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Alternative Energy - Monday, February 4, 2008

Goldman Sachs Finances Green Credits' Exchange APX

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Founded well ahead of its time in 1996, APX has announced that it has both raised a round of funding from Goldman Sachs and hired a new CEO and Chairman - Brian Storms. Goldman joins previous investors, including Bechtel Enterprises Holdings, Kinetic Ventures, ONSET Ventures, Technology Partners and Woodside Fund. Storms was CEO of enviro firm of Marsh Inc.

APX serves as a banker for environmental commodities. It allows industrial companies that have been mandated by courts or legislatures to clamp down on their output of pollution to to create, track, manage, and retire renewable energy certificates, energy efficiency and conservation certificates, carbon offset credits, and greenhouse gas emission allowances.

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