Ashurst advises Xpansiv on its investment in Evident Group

    Global law firm Ashurst has advised Xpansiv on its acquisition of a minority interest in Evident Group, with the goal of supporting the fast-growing I-REC market and development of clean economy certification.

    Xpansiv operates the market infrastructure to rapidly scale the world’s energy transition, running the largest spot exchange for environmental commodities, including carbon credits and renewable energy certificates. Evident is a global authority in the certification of the clean economy and is recognised for its expertise, robust standards, world class registry technology, and collaborative approach.

    The investment, which further builds on an existing partnership between the Xpansiv and Evident, will support the companies’ mutual goal of enabling the energy transition and certifying the world’s clean economy through independent certification and dynamic markets. It also allows Evident to continue its expansion into new regions and products, including Sustainable Aviation Fuel, green hydrogen, biomethane, and carbon removals.

    Lead partner on the matter, Jonathan Cohen, said: "We are delighted to have assisted Xpansiv in the completion of a complicated transaction that enables Xpansiv to gain a strategic stake in Evident. We look forward to seeing Xpansiv partner with the management team of Evident to grow the business."

    The team was led by tech M&A partner Jonathan Cohen with extensive support by senior associate Dillon Fuzi. The wider team corporate team included associates Rebecca Karpin and Shashtika Sundar. Partner David Futter assisted on commercial contracts and technology matters, Partner Tim Cant led on financial regulatory matters, Partner Eleanor Reeves assisted on real estate and environmental matters, Partner Ruth Buchanan led on employment matters, Partner Nicholas Gardner assisted on tax matters and Partner Duncan Liddell led on competition advice.