Ørsted and IncubEx LLC in Cooperation After Investment
CHICAGO & SKÆRBÆK
Ørsted and IncubEx LLC are pleased to announce Ørsted’s recent investment in IncubEx.
In IncubEx’s recent $5 million fund raise, Ørsted has taken a $1.65m stake thus becoming a major shareholder as well as a significant stakeholder in IncubEx’s future. IncubEx’s Directors are delighted to welcome Søren Scherfig, Head of Markets and Senior Vice President at Ørsted, to the Board of the Company. Existing IncubEx shareholders further supported the Company by making up the remainder of the fund raise.
IncubEx works in conjunction with its global exchange partner, European Energy Exchange and other leading service providers and stakeholders to design and develop new financial products in global environmental, reinsurance, and related commodity markets. The company has a specific focus on innovation and continuous improvement of products and services, including technology, trading solutions, and operational efficiencies.
Søren Scherfig, said: “Our vision is a world that runs entirely on green energy and I look forward to working with IncubEx. We know the company as an innovative frontrunner, building and aligning commodity products to meet the market demand. Our cooperation represents an opportunity for us to accelerate the maturity of these global markets and ultimately the green transition.”
Neil Eckert, Chairman of IncubEx, said: “This is a significant development for us. Ørsted are trailblazers in the environmental space. Our business is growing quickly and this raise gives us the working capital and balance sheet to pursue our goals. Most importantly, we welcome Ørsted as a strategic partner and are proud to have Søren on our Board.”
IncubEx is a product and business development company as well as an incubator for exchange traded products, services, and technology solutions and is positioned as a pure play environmental company, helping to promote liquidity and growth in financially-traded environmental asset classes. These asset classes are developing and expanding at an increasing rate, in contrast to a number of other asset classes in the energy exchange sector. This growth has already become apparent in European, North American and Asian markets.
Ørsted is one of Northern Europe’s leading energy groups headquartered in Denmark. Its business is based on producing and trading energy and related products in Northern Europe. Ørsted’s stated vision is to be part of a world that runs entirely on green energy and with that aim in mind, Ørsted has, since 2006, reduced its coal consumption by 73% and aims to fully phase out coal by 2023.
Morten Kidal, Head of Media Relations +45 99 55 95 83
Neil Eckert, Chairman +44 207 382 7801