Green tech start-up, BNGx has unveiled the world’s first fully digital marketplace for Biodiversity Net Gain units.
The first-of-its-kind exchange offers an end-to-end solution for the sale and purchase of off-site BNG units using advanced coding to simplify and streamline the process, and documentation drafted by the leading global firm, DLA Piper.
For developers, BNGx’s matching algorithm finds the optimal package of off-site units for a site enabling the buyer to achieve their BNG obligations more efficiently. The developer uploads its metric file to the exchange and the platform runs the search, makes the match, and processes the transaction. Once purchased, off-site units are automatically added to a developer’s metric file ready to submit to the Local Planning Authority.
For landowners, the exchange makes their units available to a nationwide market of developers, matching units to sites where they offer the buyer an optimal outcome. Sales are documented, executed and processed automatically, and portfolio records are updated in real time.
BNG units created by Nattergal, Iford and BioGains are already available on the exchange, enabling developers to purchase units from trusted habitat bank providers.
Launching just nine months after the UK’s mandatory biodiversity laws took effect in February 2024, BNGx is aimed to revolutionise the way BNG compliance is achieved.
Andrew Hicks, CEO and co-founder of BNGx, said: “BNGx is the simple solution for buying and selling registered BNG units. We help developers quickly find and purchase the right package of units for their sites and enable landowners to make their units available to buyers across the country – and we document, execute, and process the transaction in minutes. By automating the process, we remove the hassle and complexity, freeing up developers to focus on building the homes our country needs and empowering landowners to enhance natural habitats.”
Josie Cadwallader-Hughes, sustainability director at Thakeham, said: “After the government’s clear commitment to unlocking the delivery of new homes across the country, there is an emboldened demand for housebuilders to meet their obligations without compromising on at least 10% biodiversity net gain. The efficiency of BNGx provides developers and planners with the reassurance they need to move forward confidently with applications.”
Archie Struthers, CEO of Nattergal, commented: “Nattergal is very pleased to be collaborating with BNGx who we see as bringing an innovative scalable solution that allows both large and smaller volume buyers of BNG units to contribute to our landscape scale nature restoration projects.”
