ImpactAlpha, February 1 – Buildings account for 40% of total global carbon emissions, because of how building materials are produced, what materials are used, and properties’ energy efficiency once they’re up and running.
A raft of recent deals show growing investor interest in greening the built environment. Michigan-based LuxWall raised $33 million in Series A financing for its energy saving windows. The company says its method of making double-paned windows can cut heating and cooling costs by up to 45% and 20% respectively.
U.K.-based urban tech VC 2150 led the round, joined by Khosla Ventures, Breakthrough Energy Ventures and Prelude Ventures.
North Carolina-based Plantd is developing a process for turning grass into a plywood-like alternative for home building. The company says using grass instead of trees ensures that carbon largely remains stored in the plants and soil. American Family Ventures led Plantd’s $10 million Series A round.
U.K.-based NeverWaste is developing a greener option for furniture and construction-grade paneling using recycled cardboard and other types of packaging. Elbow Beach Capital backed its £1.5 million ($1.9 million) seed round to help the company set up manufacturing in Northern Wales.
Austria-based housing developer Gropyus secured backing from German real estate company Vonovia to build sustainable, prefabricated housing complexes. The company uses sustainably-sourced timber, automated manufacturing to reduce material waste, and software to manage energy efficiency in the homes.