GE Invests $22M in Green Building Manufacturer
As part of the second round of funding for its $200 million “Ecomagination Challenge,” General Electric and venture capital partners RockPort Capital Partners, Claremont Creek Ventures and Greener Capital Partners recently invested $22 million in San Francisco-based Project Frog, a company that builds modular energy-efficient commercial buildings.
Project Frog seeks to change the conventional construction of commercial buildings by combining semi-custom designs with a pre-engineered kit of energy efficient building components. After a kit is delivered to a project site, the project typically takes one to six months to complete. ”We make the complicated and lengthy process of new construction faster and easier for our customers by providing a kit of high precision, sustainable parts that are optimized based on the structure’s size, use and location,” says Ann Hand, CEO of Project Frog.
Representative projects include a 5,000-square-foot community center built as part of the Hunter’s Point Redevelopment Plan in San Francisco and a 14,000-square-foot racing school located at Infineon Raceway in Sonoma, California. Currently in development is a 4,000-square-foot educational facility for GE located in Ossining, NY.