Green Construction Technology Company Reaches $ 1 Billion Valuation In Less Than 31 Months; announces the appointment of a new member of the Board of Directors, David Taylor, CEO of P&G.
Canadian green building technology company, Nexii Building Solutions Inc. achieved unicorn status–a term used to define a startup that has a valuation of $ 1 billion or more–in less than 31 months.
This makes Nexii the fastest company to reach this milestone in Canadian history. To date, Nexii’s total capital raised stands at over $ 109 million (C $ 125 million) with a post-currency valuation of its latest fundraising of $ 1.23 billion ($ 1.55 billion). Canadian dollars).
Nexii designs and manufactures green buildings and construction products that are sustainable, cost effective and resilient in the face of climate change. Its construction solutions have a lower carbon footprint with 20 to 33% less carbon incorporated, overall use 33% less energy and 55% less heating energy.
The company’s sustainable products use a revolutionary building material, Nexiite, which has properties comparable to concrete but does not contain Portland cement or lime, significantly reducing end-to-end carbon emissions.
Nexiite is made from a proprietary blend of readily available ingredients, free from ILFI Red List toxicants, and is used to create Nexii panels for use in commercial, industrial and residential buildings. The Nexii system cuts construction times, enabling the rapid development of sustainable buildings across North America.
âAt Nexii, we’re incredibly proud of how far we’ve come since we launched as a small startup in Moose Jaw, Saskatchewan in 2019,â said Stephen Sidwell, CEO of Nexii. âToday, we have expanded our business to eight manufacturing plants in operation or in development across North America. We have global leaders on our board of directors, incredible investors, technology partners and a team of over 300 people, all committed to our mission to change the construction industry, by delivering sustainable building solutions from high performance in every industry and in every region of the world.
Nexii’s growth plans have recently been bolstered by a number of leading partnerships, including naming Honeywell its exclusive supplier of construction technologies, working with Trane Technologies to create sustainable commercial buildings with a reduced carbon footprint and, most recently, partnering with Siemens to advance the rapid delivery of a high-performance, comprehensive construction solution.
Actor Michael Keaton has also partnered with Nexii to bring a Nexii manufacturing facility to Pittsburgh, Penn., While Super Bowl MVP Joe Flacco supports opening a factory in Hazleton, Penn. Jason F. McLennan, who was named World Changer by GreenBiz, is also Nexii’s impact architect.
Gregor Robertson, former mayor of Vancouver and now executive vice president of Nexii, says: âNever before has the work we do at Nexii been so important. Buildings and construction account for 39% of global climate pollution, making industry the primary driver of the climate crisis. To help solve this problem, we need to address the challenge of emissions from buildings and construction. That’s what we do at Nexii, and that’s why such amazing partners are drawn to work with us.
Nexii also announced its new board member, David S. Taylor, Chairman of the Board, President and CEO of P&G. Beginning November 1, Taylor will assume the new role of Executive Chairman of P&G. By joining the Nexii Board of Directors, Taylor will bring his experience to support Nexii in its expansion across North America, with a view to future international expansion.
âI have always been a firm believer in the power of innovation to create meaningful change,â says Taylor. âThis is exactly what Nexii is doing today, reinventing the way the world is built so that we can significantly reduce climate impacts on our planet. I am excited to help the Nexii team scale their revolutionary products and develop sustainable construction in North America and eventually the world.
As a member of the Nexii board of directors, Taylor joins a team that includes Ronald Sugar, president of Uber and director of the board of Apple; Bill McNabb, former President and CEO of Vanguard and Mike Roberts, former Global President and COO of McDonald’s.
To date, Nexii panels have been used in industrial and commercial rental units, single storey commercial buildings and retrofit projects, as well as high performance envelope systems and residential buildings. Recent projects include an energy-saving exterior building envelope for a Courtyard Marriott; a one-of-a-kind, sustainably-built Starbucks built in six days and reducing store emissions by 30%; and projects for clients such as Popeyes and A&W Restaurants.