June 6 (Bloomberg) -- ICIS, an energy information unit of Reed Elsevier Plc, is buying carbon market analysis firm Tschach Solutions GmbH for an undisclosed sum.
Tschach, based in Karlsruhe, Germany, was founded in 2010 and provides research and price forecasts in the European Union carbon market and United Nations Clean Development Mechanism emissions-credit program, ICIS said in a statement today.
Managing directors Ingo Tschach and Jan Frommeyer will remain with ICIS, said Jacqueline Savory, senior marketing manager at ICIS in London. “The product offering remains unchanged at this stage,” she said by phone, declining to comment on the transaction’s terms.
Trading in EU carbon permits rose 5.9 percent to a record 2.1 billion metric tons in the three months through March, compared with the last quarter of 2012, according to the ICE Futures Europe exchange in London. Prices in the EU’s greenhouse-gas market, the world’s largest by traded volume, have slumped 41 percent in the past year amid a surplus of allowances that regulators are struggling to fix.
Frommeyer declined to comment when reached by phone.
To contact the reporter on this story: Mathew Carr in London at firstname.lastname@example.org
To contact the editor responsible for this story: Lars Paulsson at email@example.com