SEATTLE, Nov. 2, 2021 /PRNewswire/ — Green Canopy and NODE are pleased to announce they have merged to create Green Canopy NODE, SPC and have completed an initial close on a $10M round. The early-stage construction tech innovator, NODE, has come together within Green Canopy, an established, deep green, vertically integrated development, design, general contracting, and fund management company. By next year, the team should double in size to over 60 employees.
Green Canopy NODE brings together the appropriate verticals and expertise needed to make construction more sustainable, healthy, efficient, and less costly. Unleashing the talents of a new workforce will further drive down construction costs.
"There are some monumental synergies at play here, fueled by tech expertise and development know-how that can come together seamlessly to create scale," stated Peter Orser, Board Chair of Green Canopy NODE. "This is exciting because you generally don’t find this combination in the market– it’s typically either one or the other."
Green Canopy NODE will begin off-site manufacturing designed to develop a complete kit of parts for efficient, software-guided assembly by generalist construction workers. The goal is to ultimately create highly sustainable housing that is accessible to people of all income levels at scale.
"The construction industry is ripe for disruption and evolution. It’s a giant industry that has been losing productivity over decades and is not meeting our most crucial demands for housing," said Bec Chapin, NODE co-founder and co-CEO of Green Canopy NODE. "For industry transformation to occur, solutions must be able to engage with existing stakeholders, workflows, and regulation. The bigger change we’re aiming at is an evolution of the industry to build more houses, faster that create greater health, wellbeing, and resiliency for people and communities now and in the future."
"In the years to come, we expect that we will be designing, developing, and manufacturing all of our housing product offsite to help enable our partners and communities achieve their development objectives in the most cost-effective manner. By doing this, we can achieve not just better financial results, but better social and environmental results," stated Aaron Fairchild, Green Canopy cofounder and co-CEO of Green Canopy NODE.
Green Canopy NODE believes that everyone deserves a high quality, sustainable, and healthy home. The company is actively working with Habitat for Humanity Seattle – King County, on the development of a 17-unit affordable and sustainable condominium development in Capitol Hill in Seattle.
"We are excited about the prospects of Green Canopy NODE being able to dramatically reduce construction costs. With a 4,500-person waitlist for our affordable homeownership program in King County alone, it’s clear something in the construction process needs to change," said Patrick Sullivan, Habitat for Humanity King County.
About Green Canopy NODE: Green Canopy NODE is a vertically integrated construction technology firm and fund manager. The company works for its clients and investors to deliver high performing, deep green, all-electric, and healthy housing. Their mission is to build relationships, businesses, and homes that help regenerate communities and environments.
The team at Green Canopy NODE offers development, design, and general contracting services to third-party developers, property owners, Limited Partners, and sustainable real estate investors.
Green Canopy NODE is also an experienced fund manager. The firm has successfully managed four real estate funds for a total of $70+ million AUM, and over 200 investor accounts. Financial and impact returns have been aligned to investor expectations.
For more information, please contact:
Susan Fairchild, Director of Impact & Investor Relations
SOURCE Green Canopy NODE