Berlin-based climate technology company Purpose Green announced on Thursday that Speedinvest and Atlantic Labs had led a round of funding for it totaling €3.3 million.
The firm claims it would utilize the capital to expand its workforce by bringing in construction, climate, and ESG specialists. Additionally, it will help the business grow within Germany while continually expanding its service and support offerings.
Through comprehensive end-to-end solutions, Purpose Green focuses on assisting the building sector in lowering its carbon emissions. The company’s mission is to assist the building industry in achieving the 1.5-degree Celsius climate objective outlined in the Paris Agreement. To that end, it employs a staff of more than 35 real estate, construction, and digital industry experts.
According to Lucas Christel, co-founder and managing director of operations at Purpose Green, “financing on this scale and in such a short period of time in the current market environment confirms that we have created an offering that meets immense demand and contributes to solving current problems in the European construction industry.”
Christel continues, “We are happy to have attracted Atlantic Labs and Speedinvest, two of Europe’s most well-known early-stage investors.
The business’s mission
According to the European Commission, the construction industry is responsible for 40% of energy usage and 36% of greenhouse gas emissions in Europe. The construction industry is a significant contributor to CO2 emissions in Germany. According to the EU, 240 million European properties require refurbishment because they no longer adhere to emission regulations.
Purpose Green laments that most building owners don’t have a thorough understanding of the energy statistics for their buildings. Aside from administrative challenges, energy modernization initiatives can be expensive and time-consuming.
Because of this, both individual owners and portfolio holders find building renovation to be a challenging task. Current market solutions frequently emphasize total renovation, which is only feasible from an economic standpoint sometimes.
In this situation, Purpose Green is useful. It has created a comprehensive, hybrid end-to-end solution for managing ESG over the long term and energy retrofits. This “one-stop shop” offers a time- and money-saving method for decarbonizing the building industry.
How to use Purpose Green
The business offers various services to assist clients in decarbonizing their structures. These include initial ESG analyses, decarbonization paths based on CRREM standards, and inventory screening. Additionally, they provide energy counseling, customized renovation roadmaps for residential buildings (iSFP), simulations of energy-saving solutions, and energy consulting reports for non-residential buildings.
Additionally, they offer data collection, ACTUAL-TARGET analyses, data recording on-site, project management, on-site inspections, aid in obtaining funds from local programs and BAFA/KfW, and vigorous action plan execution. They provide a purposeful green asset service for managing inventories as a long-term support option.
Purpose The first step in Green’s method is gathering important property information and producing a digital 3D model that gives building owners a thorough understanding of its energy state. A team of energy consultants and construction specialists will use the data to plan and carry out crucial energy-related building and renovation procedures.
“As Europe works to become carbon neutral, the building sector urgently needs creative solutions. We were instantly impressed when we learned about Purpose Green’s mission and technology,” says Andreas Schwarzenbrunner, a partner at Speedinvest.
Schwarzenbrunner states, “We are convinced that their platform will play a crucial part in Europe’s energy transition and establish itself as the preferred partner of the real estate industry.”
More information on the services offered is available to new clients who sign up for a free first consultation and assessment. Purpose Green has completed more than 600 custom renovations, depending on the requirements of each property.