STX, a trading firm in environmental commodities like renewable energy, biofuels, energy efficiency and CO2-emissions allowances, (www.stxgroup.com) announces that it has reached an agreement to acquire a majority stake in Vertis (www.vertis.com). The combined business of STX and Vertis will offer clients full-service access to the widest range of traded environmental commodities and provide comprehensive support to clients on their journeys to Net Zero emissions and beyond, to climate positive.
Vertis was founded in 1998 and its headquarters are in Budapest, with offices in Brussels, Madrid and Warsaw. It trades environmental commodities with over 2,000 industrial and aviation clients in over 50 countries. It also helps companies across the world navigate their path to Net-Zero.
This joining of forces will allow STX to broaden and expand its product offering in CO2-emissions trading while Vertis, its employees and its clients will benefit from being part of a well-capitalized group with access to a broad and complementary range of products.
Following its addition to the STX Group, Vertis will continue to focus on trading environmental commodities, supporting corporates in undertaking Climate Action, and to play a leading role in the connection of carbon markets globally. STX is pleased to announce that both management and (non-)executive board members have committed to remaining in their respective roles thereby ensuring continuity.
Marc Falguera, CEO of Vertis, says: “There are tremendous and growing opportunities to help industrial companies cut their environmental impact and reduce environmental risk. To be able to best help our clients and provide challenging opportunities for our employees, we believe that becoming part of the STX Group is an excellent step for Vertis.”
Tim van der Noordt, founder and CEO of STX, says: “Having originally started STX as a company in the EU ETS space, I have known Vertis and its founders for more than a decade and I am proud and excited to be incorporating this very strong enterprise into the STX family, and to work together with Vertis’ management on positioning the combined group for a preeminent position in trading carbon and carbon-related markets globally.