LONDON, July 16, 2024 /PRNewswire/ — Quantum Commodity Intelligence (QCI), the world’s leading independent price reporting agency for international oil, carbon, biofuels and ammonia markets, has raised £12.5 million in growth capital. The investment from US-based VC firm Elephant represents a minority stake in the business.
Co-CEO of QCI Andy Allan said, “As a boot-strapped, employee-owned, commodity intelligence business, we are proud of the platform and brand we have created in just three years. This funding from Elephant will help scale our business faster while better serving our clients, who are faced with the task of managing risk while addressing the complex challenges of helping the world reach net zero emissions.”
QCI will use the capital to broaden its existing services, expand its global presence and launch additional commodity verticals associated with the energy transition.
“Through the company’s deep expertise in multiple commodity markets, QCI is providing essential commodity intelligence to some of the world’s biggest companies that are most exposed to the energy transition. The commodity intelligence and benchmark space is changing and QCI is best placed to gain market share from incumbents and take a key position in nascent sectors,” said Christopher De Souza, Partner at Elephant.
About QCI
Quantum Commodity Intelligence is the world’s first price reporting agency dedicated to providing commodity market intelligence for energy transition and carbon markets. London-headquartered, the company provides commodity benchmarks for carbon offsets, crude and oil products, biofuels and environmental certificates as well as ammonia. In addition to its benchmark pricing, QCI offers clients access to real-time, market-moving news and data. Founded by industry experts in 2021, it has registered offices in London, Dubai and Singapore. Its clients include energy majors, law firms, consultants, governments as well as suppliers and buyers of low-carbon commodities who use QCI proprietary price assessments and intelligence to manage risk. Nearly 40,000 industry professionals have accessed QCI services since October 2021 and the company has clients in more than 100 countries.
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