Grexel Joins EEX Group!
Grexel and European Energy Exchange (EEX) have reached an agreement under which Grexel becomes fully owned subsidiary of the European Energy Exchange (EEX). Grexel will continue to operate as an independent entity with existing brand, clients and personnel.
Grexel offers comprehensive services for operators of registries, i.e. for guarantees of origin, and holds a market share of 42% of new certificates issued within the European Energy Certification Scheme (EECS). The company currently operates 15 energy certificate registries in Europe, of which 10 are for electricity guarantees of origin, 4 for biomethane and one for hydrogen certificates. Over 10.000 account holders, including major energy producers and end users, use Grexel System’s registries.
“The registry services of Grexel are closely linked to the renewable energy market which complements EEX Group’s core business”, says Peter Reitz, Chief Executive Officer of EEX. “The acquisition of Grexel Systems in combination with Powernext’s existing registry business will enable us to actively develop the future market of certifying the origin of renewable and other forms of energy.”
“Our technology is already used by numerous public European institutions such as transmission system operators, regulatory bodies, and market operators, mandated to establish markets for energy certificates in their country”, says Marko Lehtovaara, Chief Executive Officer and founder of Grexel. “Through joining EEX Group we aim at further strengthening our market position and expanding our registry as a service business in Europe and beyond.”
By joining forces, the companies aim to support the advancement of renewable energy solutions in Europe and worldwide. The closing of the agreement is subject to certain approvals and notifications as well as other customary closing conditions and is therefore expected for the first quarter of 2019.
The European Energy Exchange (EEX) is the leading energy exchange in Europe which develops, operates and connects secure, liquid and transparent markets for energy and related products. As part of EEX Group, a group of companies serving international commodity markets, EEX offers contracts on Power, Emission Allowances as well as Freight and Agricultural Products. EEX is part of Deutsche Börse Group.
Grexel, based in Helsinki, is Europe’s leading energy certificate registry provider, with an annual transaction volume of over one billion MWhs by over ten thousand active account holders in 15 countries. In addition to central registry service provision, Grexel also helps its customers to design new certification schemes, coping with the changing requirements set by international legislation and standards, and to understand the market better.
