Connecticut Innovations Makes Clean Tech Investment in Sustainable Real Estate Solutions Inc.
Sustainable Real Estate Solutions Inc.'s platform enables users to assess energy and sustainability-related risks
Connecticut Innovations (CI), the state’s quasi-public authority responsible for technology investing and innovation development, today announced that it has made a $500,000 investment in Sustainable Real Estate Solutions Inc. (SRS) of Monroe, Conn., through its Connecticut Clean Tech Fund. This investment is part of an $800,000 investment round also involving LaunchCapital and individual investors. SRS is the third company to receive assistance through this fund.
SRS’s flagship product, Sustainable Real Estate Manager™, provides a comprehensive set of energy and sustainability performance assessment and management solutions for the commercial real estate industry. SRS’s on-demand, web-based technology enables building management professionals, real estate investors, lenders, tenants and consultants to proactively assess and manage energy efficiency and sustainability-related issues to ensure optimal performance at both the individual property and overall portfolio levels. The company’s software-as-a-service (SaaS) platform is the industry’s first integrated solution for measuring and monitoring commercial real estate asset sustainability performance against several existing and emerging public and private benchmarks. The platform combines ENERGY STAR, LEED, ASTM, ASHRAE and CMP Green Value Score standards in a manner that rationalizes the relative strengths of each of these leading sustainability and energy benchmarking and rating systems. The platform also utilizes SRS proprietary indices including its energy efficiency based Local Market Benchmarking Index™ and CarbonCheck®, which determines potential carbon emission-related financial risk associated with a building’s energy consumption.
Governor M. Jodi Rell said, “Buildings account for 38 percent of our nation’s greenhouse gas emissions and 39 percent of our energy use; it is imperative that we develop tools, such as those being introduced by SRS, to help us improve these statistics and increase our sustainability.”
“SRS is delighted to be partnering with CI to launch its innovative solutions on a national and, shortly, international level,” said Brian McCarter, SRS founder and CEO. “CI’s understanding of the public policy, regulatory evolution and pure economics driving demand for SRS’s solutions make it a powerful strategic ally in building SRS’s position as a global leader in its rapidly developing industry.”
With climate change and energy efficiency emerging as a mainstream concern, sustainability is rapidly shifting from a peripheral, “feel good” issue to a central agenda item for businesses – one requiring focused action. Market forces, such as rising energy costs, combined with energy disclosure and green building regulatory requirements, are creating strong demand in the commercial real estate market for solutions that will improve sustainability. That demand, applied to a commercial real estate market consisting of over 9 billion square feet (excluding government-owned buildings), yields an enormous potential market for SRS’s tools.
“We are pleased to be supporting a company whose solutions will encourage the development of sustainable commercial buildings,” said Peter Longo, president and executive director of CI. “We are also pleased to be supporting a familiar entrepreneur. SRS founder Brian McCarter is a ‘repeat entrepreneur,’ who was part of the founding management team at Environmental Data Resources Inc., a former CI portfolio company. With Brian at the helm and a comprehensive solution in hand, SRS should be well positioned to penetrate this exploding market.”
Anil Vasagiri, CI director, investments, will represent CI on SRS’s board of directors.
About Sustainable Real Estate Solutions Inc. Sustainable Real Estate Solutions Inc. (SRS) is a market pioneer and leader in on-demand energy and sustainability performance assessment and management software solutions for the commercial real estate industry. SRS's flagship platform Sustainable Real Estate Manager™, is an Internet-based, "Software as a Service" enabling building owners, operators, investors, lenders, tenants and consultants to proactively assess, benchmark and optimize the energy and sustainability performance of individual properties and portfolios. The SRS global platform provides an industry “best practice” solution providing uniform, auditable management of both U.S. and international real estate portfolios. For more information about SRS, please visit www.SRMnetwork.com For more information about Connecticut Innovations, please visit www.ctinnovations.com