PanXchange

Founded in 2011 by a veteran Cargill commodities trader and backed by a highly influential roster of trading and market data executives, PanXchange is a mission-driven company working to combat climate change. We are leveraging the latest developments in technology and markets to incentivize nature-based carbon removal at scale.

PanXchange’s core technology is its trading platform for carbon credits that allows for instant market access, price discovery, and negotiation between buyers and sellers on quantity, quality (methodology), delivery and price. PanXchange recently launched a global, vertically integrated nature-based carbon program focused on project management for highly scalable agriculture and other land use projects to originate carbon credit supply to its platform. Through the PanXchange platform, responsible companies and individuals can connect with carbon credits from projects developed by PanXchange and other entities that are protecting and restoring nature worldwide. The PanXchange trade platform and benchmark pricing service began with over 30 agricultural commodities in East Africa. Today, we are the leading benchmark price provider in the US hemp market and the only institutional grade trade platform for physical hemp deal flow.

As of May 2023, PanXchange is part of Hedera’s blockchain carbon solutions ecosystem, owned and managed by governing entities including Google, Dell, IBM, and DLA Piper. PanXchange has received the first tranche of a $1.3M grant from Hedera to implement their blockchain solution to the PanXchange platform to bring unparalleled transparency to and confidence in carbon markets by publicly and immutably recording all transactions.

PanXchange has three core elements to its business model, (1) a web-based registry and market platform for carbon offset buyers and sellers to negotiate the terms of the trade (quality, quantity, delivery, price), (2) business intelligence and a reputation as the leading benchmark price provider in emerging commodities, and (3) providing services directly to clients such as consulting, advisory, and project support. Our product and suite of services address the lack of confidence in investing in carbon offset projects, limiting the market’s ability to counteract climate change.

Consulting

PanXchange comprises a team of physical commodity specialists. As such, we focus on true fundamental analysis, tailored advice that focuses on profitable outcomes, and deep industry experience in supply chains and deal flows. Our team has deep experience working for such companies as Cargill, Sempra Energy, StoneX, JBS, and RS Energy Group (acquired by Enverus). We have raised millions of dollars for new ventures, we have won numerous awards and pitch competitions, and we have traded millions of tons of commodity products.

Consulting topics:

    • Assistance with climate and sustainability grant applications
    • Engineering and technical questions
    • Carbon credit education, risk/ reward assessments
    • Venture Strategy and Expert witness/ testimony on prices and market movements
    • Price and Supply/Demand Forecasting- by company, region, product or industry sector, segmented Market Analysis (Raw material – Wholesale – Retail)
    • Price risk management, arbitrage opportunities and byproduct strategies
    • Logistics & Supply Chain – Analysis and Development
    • Import/Export viability
    • Commercial Product Specifications for industrial sectors
    • Competitive landscape
    • Financial modeling- costs, sales projections, build/buy/lease, and break-even analysis
    • Pitch decks and business plans- preparation and review
    • ESG Sustainability and strategy optimization

Our Team

Founder & CEO

Julie Lerner

As CEO of PanXchange, Julie Lerner leads all aspects of the firm’s operations and Strategy. Julie began her career with Cargill in Geneva, Switzerland and later became a senior trader for the firm’s Latin American sugar markets. She also brings trading experience in energy markets and weather derivatives with Sempra Energy Trading and XL Financial. Julie is a frequent contributor to the Wall Street Journal, Bloomberg (print & TV), and is the recipient of Denver Business Journal’s inaugural list of 15 Most Admired CEOs (2018) as well as a winner of their Outstanding Women in Business (2020).
Vice President

Alex Meleshko

Alex Meleshko leverages both an engineering background and capital markets experience to provide well-rounded client advice as Manager for PanXchange’s frac sand commodity exchange and industry-leading pricing platform. Alex’s previous work experience includes supporting technically-driven buy-side equity research in the energy space for a subsidiary of Warburg Pincus.
Vice President of Technology

Michael Miller

Vice President of Technology Michael Miller is responsible for creating, implementing and deploying PanXchange’s online trading platforms, maintaining the PanXchange servers as well as the public-facing websites. He has played a key role in designing and developing some of the signature features on our trading platform including adding geo-location for live mapping of orders, mobile compatibility, robust interactive reporting, and internal business management applications. Michaels prior work includes overseeing development for one of the top online promotional products websites, as well as extensive experience in freelance web development.
Vice President of Origination

Ethan White

Ethan White has been working directly with farmers on agricultural sustainability his entire career, starting with his service in the Peace Corps. He is a graduate of Western Colorado University’s Master of Environmental Management, where he was a Fellow of the UNFAO’s Mountain Resilience Coalition. The last few years, Ethan has been focused on how regenerative agriculture and carbon markets can improve an American farmer’s bottom line.
Sales Consultant

Enrique Cruz

Enrique Cruz has been working directly with farmers on the Texas Gulf coast for over twelve years. Starting with his service in RiceTec and the last five years with Indigo Ag he has been a key player in introducing new buyers and programs to help farmers improve their bottom line. With his extend background in Agriculture business and his former education in Soil Sciences, Enrique understands perfectly the challenges that farmers are facing day to day. “Programs like PanXchange where farmers have control of their carbon credits will bring a much needed easement to the market”.
Manager, Hemp Market

Rachel Berry

Rachel Berry is the founder and CEO of the Illinois Hemp Growers Association and an experienced Illinois hemp farmer. She is also an active member of the National Hemp Association’s Standing Committee of Hemp Organizations and has served as a director for the U.S. Hemp Building Association. Rachel brings a wealth of hands-on experience and industry knowledge to her work in the commodities market.
Advisor

Andy Bose

Head of Innovation & Chief Product Officer, S&P Global Platts
Member Board of Directors, Commodity Markets Council
Lead Developer, Lockheed Martin
Advisor

Matt Jansen

CEO, SALIC (Saudi Agriculture and Livestock Investment Company)
CEO, COFCO International
Senior Vice President, President of Global Oilseeds and Chief Risk Officer, Archer Daniels Midland (ADM)
Advisor

Brad Levy

CEO, MarkitSERV where he ranked No. 4 on Institutional Investor’s 2017 Trading Tech 40.
Managing Director and Global Head of (Principal Strategic Investment), Goldman Sachs.
Advisor

Chris Malo

Chief Financial Officer, Sun Trading.
Exec Vice President, Business Development, Chicago Board of Trade.
Senior Vice President, Cargill Investor Services.
Advisor

Norman Hay

CEO, Cargill International,
Head of Petroleum Trading, Cargill
Head of International Sugar and International Grains, Cargill
Advisor

Bill Templer

Managing Director, UBS (Clearing & Derivative Execution)
Managing Director and Co-Head Listed Derivatives, Morgan Stanley where he was integral to the launch of London Stock Exchange’s CurveGlobal

Our Markets

Carbon

Carbon credits are a way to connect climate-conscious companies and their emissions with companies that can successfully reduce or remove them from Earth’s atmosphere. By purchasing carbon credits, it allows a company to reduce or remove emissions they could not otherwise reduce or remove themselves and rewards market participants for regenerative practices.

Industrial Hemp

Hemp is used for a wide variety of products, including by companies in the fast-growing CBD Oil market. Cultivation and trading of hemp had operated in a legal gray area, but this is changing with the passage of the 2018 Farm Bill. In January 2019 PanXchange launched a suite of nation-wide hemp indices that have quickly become the industry’s standard reference.

Frac Sand

Analysts closely monitor quantities and prices of frac sand – which make up 25% of the total cost of extracting oil and gas in the U.S. – to gain insights into the important shale industry and the overall economy. PanXchange’s eight frac sand indices have become the industry standard since being introduced in early 2018.

East African Commodities

East African agricultural markets suffer extreme inefficiencies due to opacity, fragmentation, and lack of infrastructure. With an East African trading platform launched in 2015, PanXchange addresses these issues, serving as the vehicle that connects small farming companies to the commercial market for trading over 40 commodities.

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PanXchange is a mission-driven company working to combat climate change. We are leveraging the latest developments in technology and markets to incentivize nature-based carbon removal at scale. PanXchange’s core technology is its trading platform for carbon credits that allows for instant market access, price discovery, and negotiation between buyers and sellers on quantity, quality (methodology), delivery and price. PanXchange recently ...
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The Company PanXchange is a mission-driven company working to combat climate change. We are leveraging the latest developments in technology and markets to incentivize nature-based carbon removal at scale. PanXchange’s core technology is its market platform for carbon credits that allows for instant market access, price discovery, and negotiation between buyers and sellers on quantity, quality (methodology), delivery and price ...
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PanXchange is an award-winning OTC physical commodity trading platform that facilitates the transfer of natural resources that feed and fuel the world. Designed by a veteran Cargill trader, the software platform allows buyers and sellers to negotiate specific details of a trade, including the location and timing of delivery and the commodity’s exact quantity and quality. Based in Denver, the ...
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