Nexii Building Solutions announced fundraising partnerships with Horizon Technology Finance Corporation (NASDAQ:HRZN) and Trinity Capital (NASDAQ:TRIN) respectively.
The collective funds, totalling CAD$45 million, will boost Nexii’s continued growth and manufacturing capacity so it can meet demand requirements for sustainable construction solutions. This present round of funding boosts Nexii’s valuation to CAD$2.05 billion.
“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. We are excited to add to our support of Nexii as it continues its strong growth trajectory,” said Gerald A. Michaud, president of Horizon.
Horizon Technology Finance Corporation is a finance company that offers capital in the form of secured loans to venture capital backed companies in the tech, life science, healthcare information, services and sustainability sectors. Trinity Capital is also a lending company, providing loans and equipment financing to growth stage companies, including venture-backed companies and those with institutional equity investors. Both of these companies draw income and capital appreciation through investments, primarily term loans and equipment financings, as well as working capital loans, equity and equity-related investments.
Nexii Building Solutions is a builder and designer of low carbon buildings and other products intended to address the growing climate crisis. Buildings and construction are responsible for 36 per cent of global energy consumption and 37 per cent of greenhouse gas emissions annually, making sustainable and scalable solutions a distinct requirement and the answer is net zero carbon buildings. In comparison, Nexii buildings have 31 per cent less embodied carbon than conventional construction materials and are fire, flood, hurricane and earthquake resilient. Nexii’s building process also accelerates standard build times by up to 75 per cent and eliminates nearly all onsite construction waste.
The company accomplishes this through their material Nexiite, a sustainable alternative to concrete, which allows for rapid assembly of high-quality buildings and infrastructure with reduced carbon emissions, near zero waste and less disruption to the community. It also cuts build times and lowers both the embodied and operational carbon of buildings.
Nexii’s sports a partnership with Seimens for an electric-vehicle charger prototype to increase charging speeds and more cost effective, and the company has products that have been used in projects for clients including Starbucks, Popeyes and Marriott, and earlier this year the company opened its first manufacturing plant in the United States.
“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.”
Horizon shares closed at $11.89.
