September 7, 2011 source: Project Frog
GE Leads $22 Million Investment in Energy Efficient Building Maker Project Frog; Installing Sustainable Building at GE Learning Center
Providing both capital and collaboration, GE led a $22 million investment round in San Francisco-based Project Frog and began construction of one of its prefabricated environmentally sustainable buildings at GE's renowned Learning Center in Ossining, NY.
Led by GE (NYSE: GE) unit GE Energy Financial Services and joined by other investors including Claremont Creek Ventures, Greener Capital Partners and RockPort Capital Partners, the $22 million investment will help Project Frog expand its sales pipeline and execute on orders. The investment amount for each firm participating was not disclosed.
“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.
Project Frog's technology improves traditional building construction methods by combining semi- custom designs with a pre-engineered kit of energy-efficient building components. This enables higher quality, more environmentally sustainable, faster and cheaper construction. Through advanced performance modeling, Project Frog analyzes how its buildings will perform in each location, allowing owners to optimize a building kit to match their desired performance. The kits are delivered to project sites ready for assembly, and typically take one to six months to construct — less than half the time required for traditional construction. Project Frog's buildings use at least 25 percent less energy than the strictest building codes in the United States, and as much as 80 percent less energy in certain parts of the country. Project Frog manufactures its commercial building systems for educational and government organizations, healthcare offices and retail spaces…
Read the full press release at Project Frog