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Ørsted and IncubEx LLC in Cooperation After Investment

Apr 30, 2018 | Press Release

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.”

About IncubEx

IncubEx is an incubator for products, services and technology solutions in environmental markets with partners and stakeholders to design and develop new financial markets, technologies and trading solutions in global environmental, climate risk, and related commodity markets. IncubEx serves as the operator of The Voluntary Climate Marketplace (TVCM). The company also works in conjunction with its global exchange partner, European Energy Exchange (EEX) and its U.S. subsidiary, Nodal Exchange. The IncubEx team is led by former key executives from Climate Exchange, which pioneered exchange listed environmental futures and options contracts and CCX, the world’s first and only voluntary, but legally binding greenhouse gas emission reduction and trading program. IncubEx, a privately held company founded in 2016 with offices in Chicago and London, is uniquely positioned to capture these opportunities globally with its partners. For more information, please visit https://theincubex.com/.

About Ørsted

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. 

 

Contact Details

Ørsted

Morten Kidal, Head of Media Relations                          +45 99 55 95 83

IncubEx

Neil Eckert, Chairman                                                        +44 207 382 7801

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