Our story

For green economy since 2001

Grexel exists to enable green economy. We do this by spreading best practices and improving the market infrastructure with our registry solutions. Our team’s decades of experience have been used by several customers to create better domain protocols and disclosure regulation.

We improve the market infrastructure through our core offering, registries for Energy Certificates. Our offering has expanded from transaction processing and advisory into providing market actors places to meet in the form of Auctions. This marketplace aspect was further strengthened through Grexel joining EEX Group in the beginning of 2019.

Currently, Grexel Certificate Registries are in use in 17 countries and providing transaction engine for 22 registries including Electricity GO registries, Electricity support certificate registries, Gas GO registries, one Hydrogen registry, one CO2 Removal Certificate registry and one CO2 allowance registry. Furthermore, the Grexel Auction Platform is used by two customers. Grexel employs around 40 professionals in Helsinki, Tallinn and Chennai. It has a turnover of 2,5 million euros and has always been financially solid as well as Triple A-credit rated since 2008. Grexel is a proud Microsoft certified partner and became certified with ISO 27001, the best-known standard providing requirements for an information security management system, in 2016.

  • 2001

    Roots of Grexel

    Marko Lehtovaara, the Founder of Grexel, signed an agreement for Absolutions Ltd. to deliver a “System for Renewable Energy Certificates” to a coalition of Nordic electricity Transmission System Operators (TSOs). The goal was to find a new way to commercially track energy from production to consumption.

  • 2003

    Grexel was founded

    Grexel was founded to take over the customers and key personnel of Absolutions Ltd and continue their work on environmental registry business.

  • 2005

    Grexel joined the Association of Issuing Bodies

    Grexel joined the Association of Issuing Bodies (AIB) and became the issuing body for EECS certificates in Finland and Sweden to secure the continuity of energy certification market in the countries.

  • 2006

    The leading registry provider in Europe

    More countries start using Grexel registries. Grexel becomes the leading registry provider.

  • 2008

    CMOgrexel was published

    With the second-generation Certificate Registry technology, CMO.grexel, Grexel introduced the registry-as-a-service offering to the market.

  • 2013

    First Biogas Registry live

    The first biogas GO registry hosted in CMO.grexel went live already in 2013.

  • 2017

    First Hydrogen registry in the world

    Within the CertifHy project, a certificate registry for Green and Low-carbon hydrogen was established in late 2017

  • 2018

    Grexel auctioning platform was published

    During 2018 more-and-more EU member states began to auction the GOs related to production receiving public support.

  • 2019

    Grexel becomes part of EEX Group

    EEX Group acquired 100% of Grexel shares.

  • 2021

    G-REX goes live

    Grexel’s fastest and most functional Certificate Registry technology to date is officially deployed for its first customers.

  • 2022

    Migration to G-REX Started

    By the end of 2022 the migration from CMO.grexel to G-REX begins.

  • 2023

    Migration to G-REX completed

    The migration to G-REX was completed in May 2023 and all customers now enjoy the lighting fast solution.