Apex Group & EDB show support for energy transition with i(x) Net Zero financing


European Depositary Bank SA (“EDB”), the Luxembourgheadquartered provider of banking, depositary and custody solutions and subsidiary of Apex Group, today announces the financing of a revolving credit facility for i(x) Net Zero PLC.

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31/08/2023 |
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i(x) Net Zero is a publicly listed investment company which focuses on investment in the energy transition and sustainability in the built environment. Founded in 2015 by Pär Lindström, Trevor Neilson and Howard W. Buffett, it provides its shareholders with the opportunity to create long-term capital growth with positive, scalable, measurable and sustainable impact on the environment and on the communities it serves.

EDB has provided i(x) Net Zero with financing for a $7.5m revolving credit facility. As part of Apex Group, EDB is supported by a strong global network and is one of the largest providers of depositary services in Europe for regulated UCITS and alternative funds with €177bn Assets under Depositary and €26bn Assets under Custody (as of July 31, 2023).

Apex Group has also provided Facility and Security Agent services to the loan facility. In Apex Group’s role as a leading provider of services to capital markets, as well as for a wide variety of fund structures and asset classes, it is committed to enabling flows of capital to ESG compliant investments.

In addition to offsetting its lifetime of carbon emissions, Apex Group is also a market leader in the provision of innovative, data enabled ESG Reporting, Advisory and Consulting services and has recently acquired Retransform, a provider of technology platforms for the collection and analysis of environmental factors across built assets to help support the real estate sector in reducing energy usage and achieving a sustainable transition to net zero across property portfolios.

Martin Thoelen, Global Head of Strategic Development – Financial Services at Apex Group comments:“We are pleased to be supporting i(x) Net Zero through both EDB’s financing capabilities as well as Apex Group’s loan agency services. We share i(X) Net Zero’s beliefthat the biggest challenges facing the world today, can also represent the most significant opportunities to drive positive and sustainable change for both people and planet.”

Pär Lindström, Chief Executive Officer, i(x) Net Zero adds: “We are proud to be supported by EDB which as part of Apex Group has a demonstrated a clear commitment to ESG values which are wellaligned with our core business focus of investing in energy transition and sustainability in the built environment. We look forward to continuing to work with the experienced Apex Group and EDB teams as we seek to accelerate the growth of our partner companies through the investment of capital and proactive engagement.” 

International law firm McDermott Will & Emery represented EDB with a team led by partner Aymen Mahmoud and supported by senior associate Nicholas Jupp and associate Bethany Drayton.

i(x) Net Zero was advised by a Qbera Capital team led by Amitji Odedra with Reed Smith providing legal counsel

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