Hepsor | September 06, 2022
Hepsor JG SIA, a subsidiary of Hepsor AS, signed a sale-purchase agreement on 1 September 2022, for acquiring a property in Jurmala Gatve Street, Imanta district, Riga. The property will accommodate a three-storey A-energy class residential building with 40 apartments and sellable area of approximately 2,500 m2.
According to Henri Laks, member of the Management Board of Hepsor AS, the location of the property in the immediate vicinity of the Anninmuiža park, and the A-energy class of the planned building support the Group's concept of green thinking. Construction of the new development project is expected to start at the end of 2023.
About Hepsor AS:
Hepsor AS is one of the fastest growing residential and commercial real estate developers in Estonia and Latvia. Over the last ten years Hepsor has developed more than 1,400 homes and 23,000 m2 of commercial space. Hepsor has been the first real estate developer in the Baltic States to implement a number of innovative engineering solutions that make the buildings we construct more energy-efficient and thus more environmentally friendly. The company's portfolio is comprised of 25 development projects with a total sellable space of 176,000 m2.
Kojo | September 17, 2022
the construction industry's leading materials management platform – today announced the completion of its $39 million Series C funding round led by Battery Ventures with participation from new investors Schneider Electric, RXR, and Bienville Capital. Existing investors including 8VC, Suffolk Construction, Human Capital, AME, and BoxGroup also participated in the round. Additionally, Kojo shared that Michael Brown, general partner at Battery Ventures, joined its board of directors.
"Our mission is to make it faster, easier, and more sustainable to build the world around us. Supply chain disruptions and inflation have made it incredibly challenging to keep projects on-time and on-budget. With this new round of funding, we're excited to continue building best-in-class products that help contractors all over the U.S. save money, increase their productivity, and become more resilient."
-Maria Rioumine, CEO and Founder of Kojo.
The $800 billion a year commercial construction industry is facing more volatility than ever with soaring construction costs, material and labor shortages, and supply chain constraints. Too many contractors today lack control and visibility over their supply chains, and critical projects are slowed down by error-prone and manual materials ordering processes.
Kojo's software brings field, office, warehouse, and vendor teams onto a single platform, making it easy for contractors to manage their materials needs from project takeoff to closeout.
To date, Kojo has powered the construction of nearly 10,000 projects, including hospitals, schools, and multi-family housing projects, across 46 states. Despite the recent economic slowdown, Kojo has grown annual recurring revenue 3.5x year over year and expanded to serve all major construction trades. In the last 18 months, Kojo has seen a 12x increase in users and saved customers more than $19 million on their materials orders.
Alongside the new round of funding, Kojo is launching new products to further streamline payments and project spend management. Contractors will be able to reconcile their invoices and pay for materials directly on Kojo's platform, allowing them to accurately track project spend. With new distributor integrations, contractors will also be able to directly see distributor pricing and inventory to make the best buying decisions.
"At Battery, we're focused on investing in entrepreneurs building industry-transforming companies, The construction industry has been underserved by technology for far too long, and that's led to huge challenges over the past few years. We're thrilled to be partnering with Kojo to change that and bring much needed software and financial services to commercial trade contractors."
-Michael Brown, general partner at Battery Ventures.
Kojo, the construction industry's leading materials management platform, enables trade and self-perform general contractors to take control of their margins by consolidating the procurement process onto one, all-inclusive digital platform. By connecting the field, office, warehouse, accounting teams, and vendors, contractors gain visibility into real-time materials spending and usage, streamline workflows, and increase labor productivity. Contractors have access to a network of thousands of vendors to source the best prices and availability, find cost savings and reduce material waste. Kojo is trusted by hundreds of contractors and utilized by thousands of construction professionals across the country every day.
Mindtree | September 22, 2022
Mindtree, a global technology services and digital transformation company, today announced the launch of Construction 360, a comprehensive, integrated cloud-based Salesforce solution designed to enable construction companies to streamline processes and increase productivity.
Launched at Dreamforce 2022, Construction 360 combines Mindtree's extensive domain expertise, cloud capabilities, and NxT product suite with Salesforce's advanced Sales Cloud, Service Cloud, and other technologies. It provides the needed digital infrastructure for construction companies to gain real-time end-to-end visibility across the construction value chain and adopt next-generation technologies, boosting efficiencies, streamlining costs, and accelerating time-to-market.
The solution enables construction companies to maximize performance and predictability across project lifecycle through superior management of bids, clients, suppliers, and projects, enhanced resource mobilization, and improved asset operations, thus making their operations and projects more sustainable. By using sophisticated Internet of Things, building information modeling, augmented reality/virtual reality, artificial intelligence and machine learning technologies, the solution aids data-driven decision-making, automation of key tasks, and better forecasting.
With Construction 360, construction companies can improve bid cycle time from tender to execution, win ratio through past tender analytics and efficient quoting, and workforce and inventory utilization through better planning. They can also reduce supplier risks and onboarding time with greater milestone visibility, while better anticipating service needs for safety and inspection tracking.
"It is imperative for the construction industry to catch up on digital transformation and make a concerted effort to grow in value by augmenting production rates, Construction 360 is designed to help construction firms rise above disparate, obsolete, and siloed assets and practices by availing of a single system of record, engagement, and action to address the cost and time repercussions of inefficient project management and governance."
-Antonio Sciuto, SVP Global Business Development Officer of Salesforce.
We are excited to leverage Mindtree industry expertise and Salesforce technology to help construction companies worldwide increase their productivity and address the labor skill shortage, said Tyler Prince, EVP and Worldwide Alliances Leader at Salesforce.
"Construction is one of the industry sectors where digital technologies have the most potential to drive innovation and productivity, Construction 360 fulfils the need for a unified and comprehensive digital platform that can enable construction companies to make a material difference to their competitiveness by first identifying operational changes that have the potential to improve their engineering and field productivity, and then defining and executing on the most effective digital roadmaps to realize those changes across the value chain."
-Venu Lambu, Executive Director and President, Global Markets, Mindtree.
Mindtree [NSE: MINDTREE] is a global technology consulting and services company that enables enterprises across industries to drive superior competitive advantage, customer experiences and business outcomes by harnessing digital and cloud technologies. A digital transformation partner to approximately 275 of the world's most pioneering enterprises, Mindtree brings extensive domain, technology and consulting expertise to help reimagine business models, accelerate innovation and maximize growth. As a socially and environmentally responsible business, Mindtree is focused on growth as well as sustainability in building long-term stakeholder value. Powered by more than 37,400 talented and entrepreneurial professionals across 24 countries, Mindtree — a Larsen & Toubro Group company — is consistently recognized among the best places to work.
National Grid | September 20, 2022
Nexamp, together with National Grid, is addressing increased energy demand at the Coffeen substation in Watertown, New York with the construction of a new solar + storage facility that will eliminate the need for additional transmission lines or substation upgrades through a Non-Wires Alternative (NWA) approach. NWA projects are designed to reduce cost and complexity by using distributed energy resources such as solar + storage rather than relying on more traditional generation and infrastructure enhancements.
The Watertown Renewables project features more than 20,000 solar panels generating 8.4 megawatts (MW) of renewable energy and 10 Tesla Megapack systems providing 31 megawatt hours (MWh) of energy storage. Together, the solar and storage components of Watertown Renewables are engineered to give National Grid the ability to call on the system for up to 5.7 MW / 29 MWh up to 25 times per year either from the panels or the batteries.
"This project is significant because it represents a number of important firsts, It is our first NWA project and is the result of a lot of hard work and collaboration between Nexamp and National Grid. With solar + storage technology advancing so quickly, NWA projects represent new opportunities to innovate the way we solve demand issues on the grid. As we work on additional NWA solutions in other locations, we anticipate many exciting milestones ahead."
-Chris Clark, Chief Development Officer, Nexamp.
Watertown Renewables is part of Nexamp's extensive portfolio of distributed solar and storage assets and will also serve area residents through the company's popular Community Solar program, providing energy costs savings to subscribers while delivering a new source of renewable energy to the local grid. This project is capable of offsetting the energy needs of more than 1,000 local residents who get their electricity from National Grid.
"National Grid is committed to reducing greenhouse gas emissions by increasing the amount of renewable energy on the grid while improving reliability and affordability for customers, Our recently released Clean Energy Vision plan outlines a pathway to achieve a fossil-free future to our energy systems that incorporates renewable sources of energy and storage solutions such as this non-wires alternative in Watertown. Nexamp's expertise in developing and operating energy storage solutions that benefit utilities and communities made them a natural fit for this project."
-Brian Gemmell, National Grid's Chief Operating Officer for Electric in New York.
Nexamp has dozens of other solar + storage projects already in operation across the Northeast and around the country. As a provider that offers an integrated approach from design/build to owner/operator, Nexamp is a long-term partner to the communities in which it operates. The Watertown Renewables project is expected to be completed early next year.
Nexamp is leading the transformation to the new energy economy with proven solar and storage solutions that make clean energy more accessible for our customers and partners. Our comprehensive solar and energy storage capabilities—including project development and acquisition, design, construction, and operations—enable clean energy savings and benefits for more customers. Nexamp's industry-leading community solar platform makes solar an option for anyone, offering guaranteed savings on annual electricity costs. With more than 1 GW of renewable energy generating assets currently in operation or under construction, we are building a decarbonized energy future. Visit us at www.nexamp.com.
About National Grid:
National Grid ( NYSE: NGG) is an electricity, natural gas, and clean energy delivery company serving more than 20 million people through our networks in New York and Massachusetts. National Grid is transforming our electricity and natural gas networks with smarter, cleaner, and more resilient energy solutions to meet the goal of reducing greenhouse gas emissions.