Plant Prefab, the first Certified B Corporation building technology company dedicated to sustainable design, materials, and operations, announced on Wednesday (1-4-23) that it has secured a $42 million in Series C and other funding to support the company’s capacity expansion and increased multi-unit housing production.
In addition to completing the Arvin Hub project, funds from this financing will also be used to bolster Plant Prefab’s engineering, product management, supply chain and project management infrastructure. All parties participating in the debt and equipment financing are existing investors in Plant Prefab, and say the investment reflects their strong belief in the company’s growth and market opportunity.
Plant Prefab’s data-driven processes produce 30% less construction waste than site-based methods, and corporate responsibility initiatives spanning everything from material sourcing to component shipping efficiency have helped the company achieve carbon-neutral operations since 2020. The Arvin Hub is being constructed to Plant Prefab’s strict environmental standards for minimal resource consumption and will be fully solar powered.
Plant Prefab’s patented Plant Building System™ utilizes advanced engineering in combination with specialized Plant Panels™ and Plant Modules™ to accommodate modular, panelized, and hybrid modular/panelized building solutions. The system addresses the design and buildability problems of all-modular or all-panelized approaches as well as the unpredictable timelines and labor challenges that can lead to massive schedule and cost overruns in site-based building.
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