APX Announces an Agreement Regarding an Investment By Goldman Sachs
Posted on: Saturday, 22 December 2007, 00:00 CST
APX, Inc., a leading infrastructure provider for environmental and cap-and-trade markets, is pleased to announce the signing of an agreement in which Goldman Sachs will become a new investor in the company. The consummation of the transaction is subject to regulatory approvals and other conditions.
John Melby, CEO of APX, Inc., commented: "We expect the investment by Goldman Sachs will enable our continued expansion and leadership as the trusted choice for creating and managing environmental commodities, and as a platform for future cap-and-trade markets."
Mr. Melby emphasized the importance of APX's independence as a technology and service provider for environmental markets, including renewable energy, energy efficiency, and carbon emissions.
APX is policy-neutral, does not take positions in the markets, and its revenues are unrelated to the market prices for the environmental and cap-and-trade market certificates that its systems create, register, manage, track, transfer, and retire. This neutrality has made APX, Mr. Melby noted, one of the most trusted names in the environmental commodities arena with both the regulatory community and environmental market participants.
This release does not constitute an offer to sell or a solicitation of an offer to sell any securities of APX.
About APX
APX is a leading infrastructure provider for environmental and energy markets, including renewable energy, greenhouse gas and carbon commodities. Providing a bank and mint for environmental commodities, the APX Environmental Market Depository™ is trusted to create, track, manage, and retire renewable energy certificates (RECs), energy efficiency and conservation certificates, carbon offset credits such as verified emissions reductions (VERs), and greenhouse gas emission allowances. The company is the system of choice for every major renewable energy market in North America and greenhouse gas markets worldwide. A privately held company, APX is headquartered in Santa Clara, CA. www.apx.com.
Source: Business Wire
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