- Xpansiv has acquired certain assets of PineSpire, a provider of revenue management services in low-carbon fuels.
- The acquisition includes key staff, commercial accounts, technology, and Intellectual Property.
- This move aims to merge operators of low-carbon fuel programs to reduce market fragmentation.
- Xpansiv and PineSpire share a vision to enhance customer outcomes through collaboration.
- Key personnel from PineSpire, including co-founders Patrick Dawson and Ryan Huggins, will join Xpansiv.
- PineSpire’s team and clients will be integrated into Xpansiv’s Managed Solutions business.
- Xpansiv Managed Solutions is the largest independent technology platform for managing renewable energy and clean transportation credits in North America.
- The Managed Solutions business surpassed 100,000 customers with 1.5GW of renewable energy capability.
- Xpansiv’s Managed Solutions unit has paid out over $1 billion to customers since its establishment.
- The company believes consolidation is crucial for the solar REC and LCFS markets to accelerate the energy transition.
Xpansiv Acquires PineSpire’s LCFS and REC BusinessesPosted By: Xpansiv
Date: October 3, 2024
Xpansiv Acquires PineSpire’s LCFS and REC BusinessesAcquisition includes key staff, commercial accounts, technology, and Intellectual Property
Provides a path for LCFS, Electric Vehicle charging stations, and solar operators to achieve scale
NEW YORK, LONDON, SYDNEY — October 3, 2024 — Xpansiv, the leading market infrastructure provider for the global energy transition, today announced its acquisition of certain assets of PineSpire, a provider of revenue management services participating in California, Washington, Oregon, and Canada’s low-carbon fuels programs. The acquisition marks the latest step in Xpansiv’s strategy to merge operators of these programs to reduce market fragmentation and provide the benefits of scale to our customers.
“Xpansiv and PineSpire share a common vision, and we are eager to leverage the capabilities of both organizations to deliver optimal customer outcomes,” said Janet Mihalyfi, President, Managed Solutions, Xpansiv. “PineSpire’s management team has a proven record of excellence and innovation, which will enable us to expand our leading presence in low carbon fuels and RECs.”
The transaction will bring key members of PineSpire’s team to Xpansiv, including co-founders Patrick Dawson and Ryan Huggins.
“We are excited to join Xpansiv, the preeminent operator in our business, which will enable us to continue to provide world-class service and technology to our hundreds of clients in California, Washington, Oregon, and Canada,” said Patrick Dawson.
PineSpire’s staff and clients will be integrated with Xpansiv’s Managed Solutions business. Xpansiv Managed Solutions is the largest, independent technology platform for managing and selling solar and renewable energy and clean transportation credits in North America. In February, the Managed Solutions business surpassed 100,000 customers with a total of 1.5GW of renewable energy capability. Last month, the unit eclipsed the $1 billion total customer payout milestone since its establishment a decade ago.
“We believe consolidation is the right strategy for the solar REC and LCFS markets at this pivotal point in their development,” said Mihalyfi. “Enabling smaller operators to attain greater scale will be essential to accelerate the global energy transition.”
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