San Francisco, Sept. 06, 2018 (GLOBE NEWSWIRE) —
Xpansiv, a collaboration of industry leaders and experts focused on improving the way commodities are produced, managed, and traded, today announced Series A investments from BP Ventures, Reflective Ventures, and S&P Global (NYSE: SPGI), strategic investors focused on developing a revolutionary platform for attaching value to commodities based on source data.
Xpansiv transforms energy-production information into Digital Feedstock™, a new, standardized format that combines data science, cryptography, and distributed-ledger technology to securely track vital source data. For the first time, the way energy is produced and shipped will directly influence its value in the marketplace, enabling unprecedented transparency and accountability.
“Early on, we realized our platform for differentiating commodities is just one piece of the puzzle,” said Joe Madden, Xpansiv Co-Founder and CEO. “To ensure the momentum necessary to transform global commodities markets, we needed the support of influential partners at the forefront of digital transformation—like the ones we announced today.”
Xpansiv’s investors include: BP Ventures, one of the world’s leading energy producers and traders; Reflective Ventures, a venture fund focused on the development of scalable, efficient blockchain applications; and S&P Global, a leading provider of transparent and independent ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide.
“Our strategic investors provide the foundation of the digital commodity ecosystem which will integrate new forms of information to drive market efficiency across the board,” Madden added.
The announcement follows Xpansiv’s recent partnership with CBL Markets, the leading global spot exchange operator for environmental commodities. The company is also working with BP to convert its sea of production data into Digital Feedstock, enabling BP to be first to market with differentiated products in oil and gas.
“Markets will be increasingly digitized and data driven,” said Andy Bose, Head of Market Structure and Innovation at S&P Global Platts. “We’re excited to be working with Xpansiv to enable a global marketplace that assigns real value to the way commodities are produced to deliver the energy that powers our world.”
Xpansiv is a technology company dedicated to transforming the business of commodities for an abundant and profitable future. By extracting and refining real-time production data, Xpansiv is revolutionizing the ecosystem, differentiating commodities based on their carbon impact and unlocking liquidity to deliver extraordinary new insights and opportunities. For information about Xpansiv, please visit www.xpansiv.com.