Project Frog, a start-up that designs and builds prefabricated sustainable buildings, recently announced a $22 million investment round led by GE, signaling the multinational company is bullish on not just environmental responsibility but innovative construction methods, too. As part of the relationship, GE will complete a Project Frog building at GE’s Crotonville Learning Center in Ossining, New York by the end of 2011.
Project Frog uses advanced performance modeling and a pre-engineered kit of energy-efficient building components (e.g., K-tect panels) to deliver higher quality, more environmentally sustainable, faster and cheaper construction. The buildings take one to six months to construct and use anywhere from 25-80% less energy than standard construction, depending on the area.
“Project Frog fills a market need for high-quality, energy-efficient buildings at a lower cost and less time to completion, which our investment and collaboration will help demonstrate,” said Ricardo Angel, senior vice president of venture capital at GE Energy Financial Services.
GE’s invested in Project Frog through a second phase of its ecomagination Challenge, which was launched in January as part of GE’s commitment to improve building energy efficiency through new technologies.
Credit: Project Frog.
Article tags: GE, Project Frog