Moderne Ventures hosted a webinar on Sustainability featuring three PropTech Founders whose companies are making tangible changes to create a more sustainable future for all.
It was mentioned during the panel discussion, decarbonizing the real estate sector is crucial to achieving energy emission commitments. As it stands, 40% of global energy today is consumed by real estate and the projected increase in building CO2 emissions by 2030 is over 50%. The problem companies like Solstice, Xeal, and Kaiyo are trying to solve is to reduce the current environmental impact of real estate on a global scale. We went through specific examples of their platforms’ achievements to-date and how their innovative solutions give us hope for achieving global emission commitments.
Solstice’s mission is to make solar power more accessible for every American. They promote clean energy and reduce carbon emissions by connecting landlords, renters, and businesses to local, community-shared, and free-to-join solar gardens that ultimately cut energy costs and help support the local community. Just last year, over 62M pounds of coal were saved and thanks to Solstice’s platform 139 MegaWatts of solar demand were generated (that’s enough to power over 17,000 U.S. homes).
Xeal equips communities with electric vehicle chargers and enables property managers and owners to reduce CO2 emissions without having to upgrade electrical capacity. Currently 4.6 metric tons of CO2 are emitted by a passenger vehicle each year. Xeal’s chargers across 100 properties resulted in a reduction of 30 tons of CO2 emissions. It’s worth noting that one of the commitments to the reduction of CO2 in the U.S. is to have all vehicles be electric vehicles by 2030, yet less than 0.5% of parking spaces are equipped with electric vehicle chargers. Xeal’s solution is to provide their dynamic power optimization software that enables triple the amount of chargers to be installed without upgrading the electrical capacity available.
Last but not the least, Kaiyo’s used-furniture marketplace has helped keep 2.7M pounds of furniture out of landfills. Wood, metal, glass, fabric, leather, and foam waste all end up in landfills across the globe. 12M tons of furniture are thrown out by Americans each year. By providing a platform to explore, purchase, or sell your furniture, Kaiyo is contributing greatly to the sustainability piece of a more personal side to the industry.
It’s worth mentioning a few other sustainability-focused companies Moderne Ventures invested in recently, truly aligning themselves as a Real Estate VC firm committed to reducing environmental impacts of the industry:
I come from a generation where new technologies are introduced to society faster and more frequently than ever before. The way these technological solutions make our everyday lives easier and more efficient is fascinating (I will never be able to go back to a time without Google Maps, for example). That being said, for the generation after mine, never before has there been so much of a need to create new tech that can, if not turn back the clock on the rate the world is deteriorating, at least slow it down. Technology for sustainability even outside of the Real Estate industry is a win-win for all and it is genuinely uplifting to learn more about companies like Moderne Ventures, Solstice, Xeal, and Kaiyo doing their part to help heal and keep our planet around for generations to come.
LMRE are specialist PropTech recruiters, if you need help growing your business or making any key hires please get in touch via the form below!