IncubEx

About IncubEx

IncubEx, established in 2016 with offices in Chicago and London, operates as a product and business development firm focused on environmental, climate risk, and related commodity markets. The company's core mission is to design, develop, and enhance exchange-traded and over-the-counter (OTC) financial products in collaboration with its global exchange partners, primarily the European Energy Exchange (EEX) and its U.S. subsidiary, Nodal Exchange. Through these partnerships, IncubEx acts as a sales, marketing, and product development arm, interfacing with market participants to identify needs and create new financial instruments. The firm's business model is centered on this collaboration, where it works with exchanges to list and clear the products it develops, thereby expanding the suite of tools available for hedging and trading in these niche markets.

The management team comprises former key executives from Climate Exchange PLC, a venture that pioneered exchange-listed environmental futures and options. Chairman Neil Eckert co-founded Climate Exchange and served as its CEO until it was sold to Intercontinental Exchange (ICE) in 2010. Eckert's extensive background includes founding Brit Insurance Holdings PLC in 1995 and leading other ventures in renewable energy and carbon permit investment. This deep industry experience from the early days of carbon markets is a foundational element of IncubEx's strategy. The team leverages its long-standing relationships and expertise to identify market opportunities and accelerate the development of new contracts, aiming to improve capital flow and help markets achieve their environmental goals.

IncubEx has been instrumental in creating a broad array of environmental derivatives. The company has launched dozens of distinct contracts, including futures and options on California Carbon Allowances, Regional Greenhouse Gas Initiative (RGGI) Allowances, and various Renewable Energy Certificates (RECs). A significant achievement was the launch of the Voluntary Climate Marketplace (TVCM) in 2022, an OTC platform powered by Trayport's Joule software, which facilitates the trading of voluntary carbon offsets from leading registries. The firm also developed the first physically delivered California Low Carbon Fuel Standard (LCFS) futures contract. Its product suite extends to reinsurance, weather-related commodities, renewable fuels, and Guarantees of Origin (GOs) in Europe, catering to a client base that includes corporations, asset managers, and other entities seeking to manage environmental risk or gain exposure to these emerging asset classes.