Nymex and The Green Exchange, New York energy efficiency companies, have announced plans to open a London-based office as a way to enter the European market.
This news comes after months of searching for the correct property and attempts to receive UK regulatory approval.
Initially the company looked at offices in Brent crude in Dublin, however the company has now decided that offices in the capital would be more appropriate for their plans.
Tom Lewis, chief executive officer of the Green Exchange, said, “Having an office in London and a dedicated team working with the trading community directly involved in the European Union Emissions Tracing System (EU ETS) reinforces our commitment to the European marketplace, and to building a more robust solution for managing risk in the carbon markets.”
It is thought that the company is e set to make a significant impact in Europe as they have hired two leading experts in energy efficiency.
Les Male, who has been made managing director for product development, has over 20 years of experience in the energy industry and has even worked as an advisor on the European energy exchange.
The second expert is Henrik Hasselknippe, who is also a managing director of product development. He was recently a global head of carbon analysis at Point Carbon in Oslo, Norway, and has 10 years of experience in the sector.
By infiltrating the European market the company is hoping to compete with companies such as the International Petroleum Exchange, which also have offices in London, near Tower Bridge.