Gestio Capital to divest stake in OTX to Xpansiv

Gestio Capital has agreed to sell its stake in OTX, an electronic platform for compulsory stockholding obligations, to Xpansiv. No financial terms were disclosed. As a result of the transaction, Xpansiv will acquire 100 percent of OTX.

PRESS RELEASE

London, 23 March 2021 – GESTIO CAPITAL, a London-based family office led by Matteo Manfredi, announces that it has entered into an agreement with the US-based Xpansiv CBL Holding Group Limited (Xpansiv), a global ESG-inclusive commodities marketplace, to divest its stake held via AitherCO2 LTD in OTX Limited (OTX), as part of the transaction that will see Xpansiv acquire 100% of OTX.

OTX, founded in 2013 by Francesco Dolci and Amedeo Giammattei, is the first telematics platform operating from London and Milan, aimed at exchanging “tickets” pertaining to the obligation to hold security stocks of oil materials (crude oil and fuels), the so-called Compulsory Stock Holding Obligations or CSOs.

With the acquisition of OTX, Xpansiv formally enters the Eurpean and UK markets, both of which are at the forefront of ESG and market innovation. The companies’ customer bases are complementary and they will benefit from access to an ESG-focused platform that will incorporate conventional and bio-based fuels.

Gestio Capital acted as OTX’s financial sponsor in this transaction, which represents a key step in Xpansiv’s strategic acquisition path to advance its market position.

Matteo Manfredi, CEO and Founder of Gestio Capital said: “We are proud of OTX, of which we have been the sole financial sponsor since its inception in 2013. With this transaction OTX will be able to expand into new geographical areas, accelerate its growth and broaden the range of products it offers. It will also further improve OTX’s ability to support its customers, with greater exposure to environmental issues, in achieving their climate impact reduction goals”.

Gestio Capital is a London based multifamily office focused on offering wealth management and family office services to high-net-worth individuals, their families, and their businesses. The company’s mission is to look after the business of private investors by overseeing, growing, and securing their financial interests.

Xpansiv is the global market for ESG-inclusive commodities. These Intelligent Commodities bring transparency and liquidity to markets, empowering participants to value energy, carbon, and water to meet the challenges of an information-rich, resource-constrained world. The company’s main business units include CBL, the leading spot exchange for ESG commodities, including carbon, renewable energy certificates, and Digital Natural Gas™; H2OX, the leading spot exchange for water in Australia; and XSignals, which provides end-of-day and historical market data. Xpansiv is the digital nexus where ESG and price signals merge.

AitherCO2, founded in 2010, AitherCO2 is a leading provider of financial services to the world’s environmental and energy markets offering consultancy and trading solutions to companies subject to regulatory obligations, as well as those operating voluntarily in the environmental markets. We provide market access for industrial, aviation, and shipping clients both on the regulated exchanges as well as through our vast counterparty network. With offices in Milan, Lugano, London, Barcelona, Athens, Dakar, and San Francisco, we are able to cover our 2000 clients’ needs wherever they are.

OTX, founded in 2013 by Francesco Dolci and Amedeo Giammattei, is the first company to introduce electronic brokerage in the market for compulsory stockholding obligations (CSO), OTX is now one of the leading market-access providers in the CSO space. Today, OTX provides voice and electronic market access to hundreds of customers in 27 countries and has established a solid dialogue with competent authorities across Europe. The company is rapidly expanding into other illiquid commodities markets, including renewable fuels and renewable fuel certificates.