The European Energy Exchange (EEX) has acquired 100 per cent of the shares in Grexel Systems Oy, a provider of energy certificate registries in Europe.
Grexel offers comprehensive services for operators of registries, ie. for guarantees of origin, and holds a market share of 42 per cent 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, four 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 (pictured), 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.
