Xpansiv buys Formbay, the AI platform behind 1 in 3 Australian home solar installs
What's the deal? Xpansiv, an infrastructure provider for global energy transition markets, has signed a definitive agreement to acquire FormbayDealroom has a profile for this one. Try Dealroom →, an Australian company that creates, validates, and trades renewable energy certificates for rooftop solar and home battery installations. Terms were not disclosed.
What does Formbay do? It runs Australia's AI-enabled compliance platform for renewable energy certificates, used by retailers and installers to verify installations and manage payments across solar, batteries, and efficiency programs. Its systems create nearly 100,000 certificates a day — more than 25 million a year — and supported over US$647.1M in certificate transactions in 2025.
The scale: Formbay backs about one-quarter of Australia's Small-scale Technology Certificates and works with nearly 30,000 registered retailers and installers, handling one in three home solar installations nationally.
Why now? Australia has one of the world's highest rates of rooftop solar and a fast-growing home battery market. "As a major renewable energy facilitator, we see Formbay as a natural fit within our platform," said Xpansiv chief executive officer John Melby.
What's the endgame? Xpansiv facilitates renewable energy certificates across more than 60 countries, with over 320GW of registered generation capacity. It plans to fold Formbay's AI verification and workflow tools into its own registry to speed verification, improve auditability, and cut administrative costs.
What changes for customers? Formbay founder and chief executive officer Dan Sullivan said the deal gives the company "the platform and resources to continue investing in our Australian customers" while exporting its technology to renewable energy markets worldwide.
The signal: The acquisition unites two Australian-born companies building infrastructure for the energy transition, and signals a broader push to apply AI and automation to the verification, compliance, and multi-party workflows that underpin environmental markets at scale.
Read more: en.prnasia.com
Image credit: Matt Bango
