Green construction technology company reaches billion-dollar valuation in under thirty-one months, and announces appointment of new board member, David Taylor, CEO of P&G
September 8th, 2021 (Vancouver/ Unceded Territories of the Musqueam, Squamish and Tsleil-Waututh Nations) – Canadian green construction technology company, Nexii Building Solutions Inc. (Nexii), today announced it has reached unicorn status[1] in under thirty-one months. This makes Nexii the fastest company to reach this milestone in Canadian history. To date, Nexii’s total equity raised is over $109M USD ($125M CAD) with post-money valuation on its last raise of $1.23B USD ($1.55B CAD).
Nexii designs and manufactures innovative high-performance buildings and green building products that are sustainable, cost-efficient, and resilient in the face of climate change. Its building solutions have a lower carbon footprint with 20-33%[2] less embodied carbon, use 33% less energy overall and 55% less heating energy.
The company’s sustainable products use a breakthrough building material, Nexiite, that has comparable properties to concrete but contains no Portland cement or lime, significantly reducing end-to-end carbon emissions. Nexiite is made up of a proprietary blend of readily available ingredients, with no ILFI Red List toxic substances, and is used to create Nexii Panels for use in commercial, industrial and residential buildings. The Nexii System significantly reduces construction timelines, allowing for rapid development of sustainable buildings across North America.
“At Nexii we are incredibly proud of how far we’ve come since launching as a small startup in Moose Jaw, Saskatchewan in 2019,” says Nexii CEO, Stephen Sidwell. “Today, we have expanded to eight manufacturing plants in operation or development across North America. We have world leaders on our Board, incredible investors, technology partners, and a team of over 300 all committed to our mission of changing the construction industry, bringing high-performance sustainable building solutions to every sector of business and every area of the world.”
Nexii’s growth plans have recently been bolstered by a number of high-profile partnerships, including naming Honeywell its exclusive buildings technologies supplier, collaborating with Trane Technologies to create sustainable commercial buildings with significantly reduced carbon footprints and most recently joining forces with Siemens to advance the rapid delivery of high-performance total building solution. Actor Michael Keaton has also partnered with Nexii to bring a Nexii manufacturing plant to Pittsburgh, PA, while Super Bowl MVP Joe Flacco is supporting the opening of a plant in Hazleton, PA. Jason F. McLennan, who was named a World Changer by GreenBiz, also serves as Nexii’s Impact Architect.
Gregor Robertson, former Mayor of Vancouver, and now Executive Vice President of Nexii, explains, “Never before has the work we’re doing at Nexii been so important. Buildings and construction account for 39% of global climate pollution[3] making the industry the number one driver of the climate crisis[4]. To help solve this, we must address the challenge of emissions from buildings and construction. That’s what we’re doing at Nexii, and that’s why such incredible partners are attracted to working with us.”
Nexii today also announces its newest board member: David S. Taylor, currently Chairman of the Board, President and Chief Executive Officer at P&G. Beginning November 1, 2021, Taylor will transition to a new role as P&G’s Executive Chairman. In joining the Nexii Board, Taylor will contribute his extensive experience to support Nexii as it scales across North America, with a view to future international expansion.
“I have always been a strong believer in the power of innovation to create meaningful change,” said Taylor. “That’s exactly what Nexii is doing today – reinventing how the world builds so we can reduce climate impacts in a meaningful way for our planet.” Taylor continued, “I’m excited to help the Nexii team scale their ground-breaking products and take sustainable construction across North America, and eventually, the world.”
As a member of Nexii’s board of directors, Taylor joins an impressive team that includes Dr. Ronald Sugar, Chairman of Uber and Board Director at Apple; Bill McNabb, former chairman and CEO of Vanguard; and Mike Taylor, former global president and COO of McDonald’s.
To date, Nexii panels have been used in industrial, commercial rental units, single-story 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 first-of-its-kind sustainably built Starbucks, constructed in six days and reducing the store’s emissions by 30%; and projects for clients including Popeyes and A&W Restaurants.
Nexii is revitalizing the construction industry with technology, innovation, and sustainable building solutions. To learn more about Nexii and their journey so far visit www.nexii.com.
About Nexii
Nexii Building Solutions Inc. (Nexii) is a green construction technology company that is committed to building a vibrant future for people and the planet. Nexii designs and manufactures high-performance buildings and green building products that are sustainable, cost-efficient and resilient in the face of climate change. The Nexii System also significantly reduces construction timelines, enabling the rapid development of green buildings across North America. Nexii is suited for industrial / commercial / institutional, mixed-use, multi-family residential and single-family homes, as well as for the green retrofit market. For more information, visit www.nexii.com, or connect with us on Instagram (@NexiiBuilds), Twitter (@NexiiBuilds) or on LinkedIn (Nexii Building Solutions).
Footnote:
[1] unicorn status is a term used to define a startup that has a valuation of $1 billion or more.
[2] Nexii walls have 20%- 33% less embodied carbon than concrete walls, 43% less embodied carbon than a steel stud wall, and ornamental panels can reach 63% reduction in embodied carbon vs precast concrete
[3]UN Environment Global Status Report 2019; EIA International Energy Outlook 2019
[4]Stewart E, Pugh G, Jordan M. Buildings Are an Ideal but Overlooked Climate Solution. World Resources Institute. https://www.wri.org/blog/2019/11/buildings-are-ideal-overlooked-climate-solution/. Published November 11, 2019. Accessed March 30, 2021
