Latest fundraising round will accelerate production of Nexii's sustainable construction solutions
VANCOUVER,BC , July 12, 2022 /PRNewswire/ -- Unceded Territories of the Musqueam, Squamish and Tsleil-Waututh Nations) – Green construction company Nexii Building Solutions today announced an additional C$45 million (US$35M) fundraise led by Horizon Technology Finance Corporation (NASDAQ: HRZN) and Trinity Capital Inc. (NASDAQ: TRIN). The funds will help accelerate Nexii's continued growth and manufacturing capacity in order to meet surging demand for sustainable construction solutions. This round of funding raises Nexii's current valuation to C$2.05 billion (last year, Nexii became the fastest Canadian company to ever reach unicorn status).
"Since our original commitment last year, Nexii has made significant strides within the construction industry through its innovative, efficient and environmentally conscious building solutions, positioning it well to further expand its operations," said Gerald A. Michaud, President of Horizon. "We are excited to add to our support of Nexii as it continues its strong growth trajectory."
Nexii is growing rapidly as it aims to revolutionize the construction industry. The company's breakthrough building system and material Nexiite, a sustainable alternative to conventional concrete, cuts construction waste to near-zero, slashes build times and significantly lowers both the embodied and operational carbon of buildings. Nexii building products have been used in projects for clients including Starbucks, Popeyes and Marriott; earlier this year, Nexii opened its first manufacturing plant in the United States. Nexii also this year announced a partnership with Siemens: together, the companies created and patented an industry-first electric-vehicle charger prototype that will make installing EV chargers faster, more cost-effective and with reduced environmental impacts.
"The Nexii team continues to make significant progress with their planet-friendly building solutions, and we are excited to increase our commitment to this rapidly growing company," said Ron Kundich, Chief Credit Officer of Trinity Capital.
"We are very thankful for Horizon and Trinity's continued partnership with Nexii," said Stephen Sidwell, Co-founder and Chief Executive Officer of Nexii. "Our revolutionary green building solutions are enabling us to win new projects with some of the largest global brands, and with Horizon and Trinity's expanded support, we are well situated for continued growth and to deliver our sustainable construction technology worldwide."
The construction industry is the world's largest contributor to solid waste, and buildings are the No. 1 source of climate pollution, accounting for 37% of emissions globally.[1] Nexii buildings have ~ 31% less embodied carbon than conventional construction materials[2] and are fire, flood, hurricane and earthquake resilient. Nexii's building process also accelerates standard build times by up to 75% and eliminates nearly all onsite construction waste.[3]
About Nexii
Nexii Building Solutions Inc. (Nexii) designs and manufactures low carbon buildings and products to address the climate impact of our built environment. With buildings and construction responsible for 36% of global energy consumption and 37% of greenhouse gas emissions annually, sustainable and scalable solutions are urgently needed for net zero carbon buildings. With Nexii's breakthrough material Nexiite, Nexii enables the rapid assembly of high-quality buildings and infrastructure with reduced end-to-end carbon emissions, near zero waste and less disruption to the community. Sustainability is core to Nexii's mission to build a vibrant future for people and planet.
For more information, visit www.nexii.com, or connect with us on Instagram (@NexiiBuilds), Twitter (@NexiiBuilds) or on LinkedIn (Nexii Building Solutions).
About Horizon Technology Finance
Horizon Technology Finance Corporation (NASDAQ: HRZN) is a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and sustainability industries. The investment objective of Horizon is to maximize its investment portfolio's return by generating current income from the debt investments it makes and capital appreciation from the warrants it receives when making such debt investments. Headquartered in Farmington, Connecticut, Horizon also has regional offices in Pleasanton, California and Reston, Virginia. To learn more, please visit horizontechfinance.com.
About Trinity Capital
Trinity Capital Inc. (Nasdaq: TRIN), an internally managed specialty lending company that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended, is a leading provider of debt, including loans and equipment financing, to growth stage companies, including venture-backed companies and companies with institutional equity investors. Trinity's investment objective is to generate current income and, to a lesser extent, capital appreciation through investments consisting primarily of term loans and equipment financings and, to a lesser extent, working capital loans, equity and equity-related investments. Trinity believes it is one of only a select group of specialty lenders that has the depth of knowledge, experience, and track record in lending to growth stage companies. Learn more at trincapinvestment.com.
[1] https://www.iea.org/reports/tracking-buildings-2021
[2] Determined through third-party Life Cycle Assessment (LCA), versus conventional construction baseline such as steel stud and high performance tilt-up concrete and averaged across projects modelled to date.
[3] Based on on-site assembly of Nexii commercial retail unit envelope vs. conventional envelope. Nexii's whole building solution reduces on-site construction waste to near zero through a combination of precision manufacturing, flat-pack transportation, and on-site assembly.
SOURCE Nexii
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