GE heads a $22 million fund round in Project Frog; a construction technology company based in San Francisco and commenced building of one of its pre-assembled and eco-friendly building at its Learning Center in Ossining, NY, by offering the required capital and partnership.
Construction design kit. Credit: Project Frog
The $22 million investment fund round led by GE Energy Financial Services a unit of GE and partook by other investors such as RockPort Capital Partners, Greener Capital Partners and Claremont Creek Ventures will enable Project Frog to increase its sales pipeline and implement orders. The investment from each of the participating company is not revealed.
The technology provided by Project Frog mixes semi-custom patterns with a pre-fabricated kit of energy saving building components to better the conventional construction methods. The new method allows cost- effective, quicker and eco-friendly construction. The company utilizes an advanced performance modeling to analyze the performance of construction in each location thus enabling the owners to improve the building kit intone with their performance requirement. The ready to assemble kits are delivered to project locations and enable completion of construction within one to six months that is less than half the time taken for a normal construction.
The constructions made utilizing Project Frog’s method consume 25% less energy than the buildings that are constructed following exacting construction codes in the US and in certain parts of the country they consume 80% less energy. The company produces construction systems for the use of retail spaces, healthcare offices, government offices, and educational institutions.
Source: http://www.projectfrog.com/