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APX Technology Enables Gold Standard Carbon Offsets to Trade on European Exchange

Gold Standard's First Exchange-Traded Carbon Transaction Completed on Climex

Santa Clara, CA - May 8, 2008 - APX, Inc., the leading infrastructure provider for environmental and energy markets, today announced the first Gold Standard exchange-traded carbon offset transaction was completed on Climex, a leading carbon spot and auction exchange.  In the transaction, Rabobank purchased Gold Standard Verified Emissions Reductions (VERs) from Tricorona.

APX serves as the registry provider and administrator of The Gold Standard Registry™. The APX platform allows participants to originate, track, manage and retire carbon commodities. Climex, an environmental commodities and energy contracting exchange, recently launched a continuous electronic trading platform for VERs, which is now linked to the Gold Standard Registry.  The APX registry system makes it possible to transfer VERs in a quick, transparent and reliable way from one owner to the next in a transaction.

Frank Larsgard, Senior Trader with Tricorona, a Swedish based investment and trading company in environmental instruments said, “Tricorona is very active in acquiring and selling Gold Standard CERs and VERs and the fact that we now have a VER Registry and Trading Platform to further support and standardise the market is a good step forward.”

“For Rabobank this is a very efficient way to purchase the VERs that we need”, explains Daan Dijkof with Rabobank’s Corporate Social Responsibility Department. “With the availability of both the Gold Standard Registry and the Climex Trading Platform we can assure even further reliability and transparency to the stakeholders involved.”

“We are enthusiastic about the launch of Gold Standard trading on Climex,” said Axel Posthumus, CEO of Climex.  “This is an important step in stimulating market development and helping it mature, and we anticipate the growth in volume and transactions on the Climex Voluntary Platform. We have an important role to play in making spot trading of VERs available to the marketplace.”

“The integration of the Gold Standard Registry with Climex creates an important link between voluntary programs and the financial markets, which will speed the flow of investment, provide greater price transparency, and allow for faster attainment of environmental goals,” said John Melby, President of APX. “APX’s high-quality and transparent data infrastructure plays a critical role in the management of environmental commodities and we look forward to supporting the growth of this rapidly emerging market.” 

The Gold Standard Foundation is a recognized leader in the VER arena and has established the world’s leading independent standard for the voluntary carbon market.  The Gold Standard label distinguishes renewable energy and energy efficiency projects under the Clean Development Mechanism (CDM), Joint Implementation (JI) and in the voluntary offset market.

About APX Inc.
APX is the leading infrastructure provider for environmental and energy markets in renewable energy and greenhouse gases including 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 all major renewable energy markets in North America and greenhouse gas markets worldwide. APX also provides technology, strategic consulting, and expert operational services to assist wholesale power market participants reduce costs and improve performance in power scheduling, settlement, market operations, system operations support, and demand response programs. A privately held company, APX is headquartered in Santa Clara, CA.

About Climex
Climex is a leading, Netherlands based, exchange for environmental commodities and energy contracting, owned by New Values B.V. Established in 2003, Climex provides continuous Spot Trading in EUAs and CERs for the entire market with APX Group as Central counterparty, auctioning of all carbon products (EUAs, CERs, ERUs and VERs) and Energy contracting and auctioning for Electricity, Gas and Guaranties of Origin/ Renewable Energy Certificates. Climex is unique because of its easy to use secure internet based trading platforms, with APX Group as its central counterparty. Climex, targets small & large, experienced & inexperienced traders and offers low trading fees with no annual fees and high liquidity. Climex was the first to execute a cleared CER spot trade in Europe, the first to organise online EUA, CER and VER auctions and organised all public governmental online EUA auctions so far. Over 16 TWh, worth 450 million Euros of energy contracts have been auctioned on Climex Energy Auction, with contracts ranging from 10,000 Euros to 120 million Euros. www.climex.com

Contact:

Reiner Musier
APX Inc.
Chief Marketing Officer
617.699.0929
rmusier@apx.com

Sascha Bloemhoff
Commercial Director of Climex
New Values BV
Tel: +31 (0)30 291 9940
Mob: +31 (0)6 20015064
sascha.bloemhoff@climex.com