Through an extensive RFP process, Plugzio was selected for investment by RET on behalf of its group of over 40 multifamily owners and operators

RICHMOND, British Columbia–(BUSINESS WIRE)–Plugzio, the premier end-to-end technology for scaling electric vehicle (EV) charging at multifamily properties, announced the close of its seed round led by RET Ventures (‘RET’) — a leading, industry-backed venture fund focused on single family rental and multifamily real estate technologies.

This investment in Plugzio is the culmination of RET’s comprehensive evaluation of the EV charging space. In December 2021, RET launched a working group including over a dozen multifamily experts to explore EV charging technologies for multifamily properties. The group determined a focus on Level 1 (L1) charging with Level 2 (L2) support was the most suitable pathway to wide EV adoption for the multifamily industry, based on convenience, reliability, and affordability for both landlords and residents.

“Compared to L2 products that typically burden users with limited charger availability, peak charging rates, and idle fees for prolonged use, L1 and 1B (240V/20A) charging is the most suitable solution for owners,” said LCOR Chief Technology Officer Brian Bozeman, who participated in the working group.

With the goal of finding an L1 provider, RET’s working group launched an RFP to identify the best solution. After assessing more than 20 platforms, the working group decided on Plugzio, an ideal end-to-end solution that provides both L1 and L2 hardware options with a hardware-agnostic, cloud-based charger management system that integrates with established L2 providers.

“With Plugzio, residents can take advantage of off-peak rates with a guaranteed overnight charge in their dedicated spot, all while they sleep,” said RET Vice President Jameson Hartman, who led the working group. “If they need more power, Plugzio can provide L2 options or integrate with L2 chargers already at multifamily properties.”

Mohammad Akhlaghi, founder and CEO of Plugzio, added: “In today’s world, landlords must look at EV charging less as a luxury offering and more as a baseline amenity that residents will increasingly come to expect. Despite the development of more high-powered chargers, studies have shown that using an affordable L1/1B charger overnight is more than adequate for end-users and is more convenient and cost-friendly.”

Co-founded by Akhlaghi in 2018, Plugzio was created with the vision to simplify EV charging for every stakeholder and developed with an eye toward scalability, superior economics, and operational ease. Landlords can centrally manage all of their chargers with custom charging plans and access rights for residents and non-residents. All of this charging data is aggregated under a central dashboard for easy monitoring and analysis. The platform is also configured to streamline EV charging regardless of property type or charger type— while Plugzio offers an ideal solution for L1-focused multifamily properties, it also supports L2-heavy commercial and retail deployments with its best-in-class software and integrations.

Notably, lifetime costs for Plugzio’s L1/1B chargers are 80% lower than other EV charging options — a Plugzio device can be installed for under $500 and maintained by onsite staff without the need for a certified technician — which enables property owners to quickly and easily scale this solution. Plugzio also provides owners with a project management portal that gives real-time visibility into the entire process from site analysis through installation.

“EV charging today is similar to laundry decades ago,” said Shawn Mahoney, Senior Advisor at RET Ventures. “Residents do not want to pay more for a shared EV charger, just like they do not want to go to a laundromat, and Plugzio solves this issue.”

Since its launch four years ago, Plugzio has rapidly established itself as one of the leading EV solutions for the multifamily space, with more than 1,000 units deployed throughout North America.

About Plugzio

Plugzio is a charging platform that helps customers monitor, manage and monetize power at a micro-level. The Plugzio platform can be used to recoup the electricity cost consumed by EVs in shared spaces with benefits including scalability due to a small electrical footprint, extremely low upfront, and operational costs, and flexibility of the installations and use cases. Plugzio has installations in more than 20 cities around the world.

About RET Ventures

A leading real estate technology investment firm, RET Ventures is the first industry-backed, early-stage venture fund strategically focused on building cutting-edge “rent tech” — technology for multifamily and single-family rental real estate. RET invests out of core venture funds and a Housing Impact Fund, backing companies that address a range of pain points for real estate operators.

Through its deep expertise and connections, RET provides solutions to issues ranging from housing affordability and sustainability to risk management and operational efficiency.

The firm’s Strategic Investors include some of the largest REITs and private real estate owner-operators and managers, who control over 2.5 million rental units worth over $600bn dollars.

For more information, please visit www.ret.vc

Contacts

Isabella Sarlo

Antenna | Spaces

isabella.sarlo@antennagroup.com
551-287-2989

This press release contains forward-looking information that is based upon assumptions and is subject to risks and uncertainties as indicated in the cautionary note contained within this press release. All dollar amounts in our tables are presented in thousands of Canadian dollars, except unit and per unit amounts, unless otherwise stated.

TORONTO–(BUSINESS WIRE)–DREAM IMPACT TRUST (TSX: MPCT.UN) (“Dream Impact”, “we”, “our” or the “Trust”) today reported its financial results for the three and nine months ended September 30, 2022 (“third quarter”).

For the second consecutive year, the Trust is pleased to achieve a five-star rating from GRESB, the Global Real Estate Sustainability Benchmark, which is recognition of its placement in the top 20% global benchmark with an overall score of 88/100. The Trust’s score can be attributed to excellent performance in Leadership, Policies, Reporting, Targets and, Data Monitoring and Review. Annual participation in the GRESB assessment provides the Trust with the opportunity for a third-party assessment of our continued progress towards achieving the Trust’s impact/ESG related goals. Further details on specific ESG metrics will be disclosed as part of our 2021 Sustainability Update report, which will be published in November.

“We are pleased with the Trust’s steady progress to create a more resilient portfolio,” said Michael Cooper, Portfolio Manager. “As we add an additional 210 multi-family units to our recurring income segment in the quarter, and construction continues on our 1,863-unit rental buildings in the West Don Lands, we believe we are well positioned to weather ongoing market disruptions by investing in high-quality assets, and contributing meaningfully to important societal issues. While our pace of external acquisitions may slow in the near term, with the largest portfolio of net-zero development and our extensive residential pipeline, we have tremendous internal growth.”

Selected financial and operating metrics for the three and nine months ended September 30, 2022, are summarized below:

		Three months ended September 30,						Nine months ended September 30,
			2022			2021			2022			2021
Condensed consolidated results of operations
Net income (loss)		$	337		$	2,154		$	1,309		$	(5,509)
Net income (loss) per unit(1)			0.01			0.03			0.02			(0.08)
Distributions declared and paid per unit			0.10			0.10			0.30			0.30
Units outstanding – end of period			66,094,687			64,939,362			66,094,687			64,939,362
Units outstanding – weighted average			65,982,734			65,066,259			65,637,245			64,934,850

During the three months ended September 30, 2022, the Trust reported net income of $0.3 million compared to net income of $2.2 million in the prior year. The change in earnings was primarily driven by timing of fair value adjustments on our income properties and developments, upon milestone achievements, as well as higher interest expense. This was partially offset by the impact of foreign exchange fluctuations on the Trust’s investment in the U.S. hotel.

As at September 30, 2022, the Trust had $9.0 million of cash-on-hand, which included unused proceeds from the Trust’s convertible debenture issuance. The Trust’s debt-to-asset value⁽¹⁾ as at September 30, 2022 was 27.3%, an increase relative to 25.7% as of June 30, 2022, primarily due to draws on the credit facility. For similar reasons, the Trust’s debt-to-total asset value, inclusive of project-level debt⁽¹⁾ and assets within our development segment, including equity accounted investments, was 60.0% as at September 30, 2022, compared to 57.4% as at June 30, 2022. This includes long-term government debt at low interest rates and high leverage, providing financial benefits that help us pay for the social benefits we provide, including our affordable housing and sustainability programs within our communities. As at September 30, 2022, the Trust had drawn $24.8 million on its $50.0 million credit facility.

As part of the Trust’s ongoing risk management practices, the Trust monitors the impact of macroeconomic factors on the business. This includes assessing the impact of cost escalations on operations and construction projects, and the impact of rising interest rates on our portfolio. We continue to monitor our capital allocation on an ongoing basis, pursue refinancing opportunities which mitigate interest rate risk, and tender a significant portion of development costs prior to construction commencement which helps contain inflationary risk.

Recurring Income

In the third quarter, the Trust’s recurring income segment generated net income of $1.2 million, consistent with prior year, although the composition of earnings differed in each period due to transaction costs, fair value adjustments and occupancy rates across the portfolio.

Throughout the period, we have continued to see strong leasing momentum across our multi-family rental buildings, ending the quarter with in-place and committed residential occupancy at 93.5% as of September 30, 2022, up from 82.5% as of June 30, 2022. Notably, Aalto Suites, a 162-unit multi-family rental building at Zibi, ended the quarter with in-place and committed occupancy at 74.7%, up from 34.6% at June 30, 2022. Aalto Suites has 95% of its units designated as affordable and we anticipate achieving stabilization for the asset in early 2023.

In the third quarter, the Trust acquired a 50% interest in 70 Park, a 210-unit multi-family rental building adjacent to the Port Credit GO station and in close proximity to the Trust’s Brightwater development. The gross purchase price for the site was $105.5 million (at 100%), of which approximately $25 million was allocated to land slated for redevelopment on the site. Inclusive of 70 Park, the Trust’s multi-family rental portfolio is comprised of nearly 1,600 units of which 25% are considered affordable.

Based on the Trust’s current development pipeline, we have an additional 2,826 residential units and 153,000 square feet (“sf”) of commercial and retail (at 100%) with an estimated value on completion of $508.5 million that will be completed and contribute to recurring income over the next three years. For further details, refer to the “Three-Year Recurring Income” table in Section 2.1, “Recurring Income”, in the Trust’s MD&A for the three and nine months ended September 30, 2022.

Development

In the third quarter, the development segment generated net income of $2.9 million compared to $4.2 million in the prior period. The decrease relative to prior year was driven by fair value gains recognized in 2021 within the Trust’s equity accounted investments, partially offset by higher foreign exchange gains on the Trust’s investment in the U.S. hotel this year.

In the period, we completed the acquisition of the Berkeley land assembly, which comprises five income properties adjacent to the Trust’s commercial asset, 49 Ontario, located in downtown Toronto. Inclusive of one property purchased in 2021, the Berkeley land assembly was purchased for $16.9 million, including transaction costs. The Trust has submitted a rezoning application for over 800,000 sf for this site and expects rezoning to be achieved by 2023. As of September 30, 2022, 49 Ontario was carried at $95.0 million per the Trust’s financial statements.

Other⁽²⁾

In the third quarter, the Other segment generated a net loss of $3.8 million compared to $3.3 million in the prior year. The increase was primarily driven by interest expense on the Trust’s convertible debentures and credit facility. Partially offsetting this was a deferred compensation recovery and decrease in the asset management fee as a result of fluctuations in the Trust’s share price.

Cash Generated from Operating Activities

Cash generated in operating activities for the three months ended September 30, 2022 was $1.5 million compared to cash generated of $4.3 million in the prior year, a decrease driven by proceeds received from a legacy development in the prior year and timing of deposits made on the Trust’s acquisitions.

Footnotes
(1)		For the Trust’s definition of the following specified financial measures: debt-to-asset value, debt-to-total asset value, inclusive of project-level debt, net income (loss) per unit, please refer to the cautionary statements under the heading “Specified Financial Measures and Other Measures” in this press release and the Specified Financial Measures and Other Disclosures section of the Trust’s MD&A.
(2)		Includes other Trust amounts not specifically related to the segments.

Conference Call

Senior management will host a conference call on Thursday November 3 at 2:00 pm (ET). To access the call, please dial 1-866-455-3403 in Canada or 647-484-8332 elsewhere and use passcode 24662328#. To access the conference call via webcast, please go to the Trust’s website at www.dreamimpacttrust.ca and click on Calendar of Events in the News and Events section. A taped replay of the conference call and the webcast will be available for 90 days.

About Dream Impact

Dream Impact is an open-ended trust dedicated to impact investing. Dream Impact’s underlying portfolio is comprised of exceptional real estate assets reported under two operating segments: development and investment holdings, and recurring income, that would not be otherwise available in a public and fully transparent vehicle, managed by an experienced team with a successful track record in these areas. The objectives of Dream Impact are to create positive and lasting impacts for our stakeholders through our three impact verticals: environmental sustainability and resilience, attainable and affordable housing, and inclusive communities; while generating attractive returns for investors. For more information, please visit: www.dreamimpacttrust.ca.

Specified Financial Measures and Other Measures

The Trust’s condensed consolidated financial statements are prepared in accordance with International Financial Reporting Standards (“IFRS”). In this press release, as a complement to results provided in accordance with IFRS, the Trust discloses and discusses certain specified financial measures, including debt-to-asset value, debt-to-total asset value inclusive of project-level debt, and net income (loss) per unit, as well as other measures discussed elsewhere in this release. These specified financial measures are not defined by IFRS, do not have a standardized meaning and may not be comparable with similar measures presented by other issuers. The Trust has presented such specified financial measures as management believes they are relevant measures of our underlying operating performance and debt management. Specified financial measures should not be considered as alternatives to unitholders’ equity, net income, total comprehensive income or cash flows generated from operating activities, or comparable metrics determined in accordance with IFRS as indicators of the Trust’s performance, liquidity, cash flow and profitability. For a full description of these measures and, where applicable, a reconciliation to the most directly comparable measure calculated in accordance with IFRS, please refer to Section 6, “Specified Financial Measures and Other Disclosures” in the Trust’s MD&A for the three and nine months ended September 30, 2022.

“Debt-to-asset value” represents the total debt payable for the Trust divided by the total asset value of the Trust as at the applicable reporting date. This non-GAAP ratio is an important measure in evaluating the amount of debt leverage; however, it is not defined by IFRS, does not have a standardized meaning, and may not be comparable with similar measures presented by other issuers.

As at		September 30, 2022				December 31, 2021
Total debt		$	203,585			$	133,150
Unamortized discount on host instrument of convertible debentures			1,152				809
Conversion feature			(345)				(357)
Unamortized balance of deferred financing costs			3,023				1,300
Total debt payable		$	207,415			$	134,902
Total assets			760,203				701,702
Debt-to-asset value			27.3%				19.2%

“Debt-to-total asset value, inclusive of project-level debt” represents the Trust’s total debt payable plus the debt payable within our development and investment holdings, and equity accounted investments, divided by the total asset value of the Trust plus the debt payable within our development and investment holdings, and equity accounted investments, as at the applicable reporting date. This specified financial measure is an important measure in evaluating the amount of debt leverage inclusive of project-level debt within our development and investment holdings, and equity accounted investments; however, it is not defined by IFRS, does not have a standardized meaning, and may not be comparable with similar measures presented by other issuers.

		September 30, 2022				December 31, 2021
Debt payable within our development and investment holdings, and equity accounted investments		$	622,683			$	493,217
Total assets			760,203				701,702
Total assets, inclusive of project-level debt		$	1,382,886			$	1,194,919
Debt payable within our development and investment holdings, and equity accounted investments		$	622,683			$	493,217
Total debt payable			207,415				134,902
Total debt, inclusive of project-level debt		$	830,098			$	628,119
Debt-to-total asset value, inclusive of project-level debt and assets within our development segment, including equity accounted investments			60.0%				52.6%

“Net income (loss) per unit” represents net income (loss) of the Trust divided by the weighted average number of units outstanding during the period.

		Three months ended September 30,						Nine months ended September 30,
			2022			2021			2022			2021
Net income (loss)		$	337		$	2,154		$	1,309		$	(5,509)
Units outstanding – weighted average			65,982,734			65,066,259			65,637,245			64,934,850
Net income (loss) per unit		$	0.01		$	0.03		$	0.02		$	(0.08)

Forward-Looking Information

This press release may contain forward-looking information within the meaning of applicable securities legislation. Forward-looking information generally can be identified by the use of forward-looking terminology such as “outlook”, “objective”, “may”, “will”, “would”, “could”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “should”, “plans”, or “continue”, or similar expressions suggesting future outcomes or events. Some of the specific forward-looking information in this press release may include, among other things, statements relating to the Trust’s objectives and strategies to achieve those objectives; the publication and details of the 2021 Sustainability Update Report; the resiliency of the Trust’s portfolio; the belief that the Trust is well positioned to withstand market disruptions by investing in high-quality assets; the expectation that external acquisitions may slow in the near term; the Trust’s internal growth potential; the expectation that long-term government debt at low interest rates will provide certain financial benefits; the Trust’s ongoing monitoring of capital allocation, pursuit of refinancing opportunities to mitigate interest rate risks, and tender significant portions of development costs prior to construction commencement to contain inflationary risk; the Trust’s ability to execute on transactions and successfully navigate markets; expected growth of the Trust’s recurring income segment; our development and redevelopment pipeline; expectations regarding rezoning applications and related square footage and finalization dates, including in respect of the Berkeley land assembly; the Trust’s ability to achieve its impact and sustainability goals, and implementing other sustainability initiatives throughout its projects; and the 2,826 residential units and 153,000 sf of commercial and retail (at 100%) with an estimated value upon completion of $508.5 million which are expected to be completed and contribute to recurring income over the next three years.

Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Trust’s control, which could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to: adverse changes in general economic and market conditions; the impact of the novel coronavirus (COVID-19 and variants thereof) pandemic on the Trust; risks associated with unexpected or ongoing geopolitical events, including disputes between nations, terrorism or other acts of violence, and international sanctions; inflation; the disruption of free movement of goods and services across jurisdictions; the risk of adverse global market, economic and political conditions and health crises; risks inherent in the real estate industry; risks relating to investment in development projects; impact investing strategy risk; risks relating to geographic concentration; risks inherent in investments in real estate, mortgages and other loans and development and investment holdings; credit risk and counterparty risk; competition risks; environmental and climate change risks; risks relating to access to capital; interest rate risk; the risk of changes in governmental laws and regulations; tax risks; foreign exchange risk; acquisitions risk; and leasing risks. Our objectives and forward-looking statements are based on certain assumptions with respect to each of our markets, including that the general economy remains stable; the gradual recovery and growth of the general economy continues over 2022; that no unforeseen changes in the legislative and operating framework for our business will occur; that there will be no material change to environmental regulations that may adversely impact our business; that we will meet our future objectives, priorities and growth targets; that we receive the licenses, permits or approvals necessary in connection with our projects; that we will have access to adequate capital to fund our future projects, plans and any potential acquisitions; that we are able to identify high quality investment opportunities and find suitable partners with which to enter into joint ventures or partnerships; that we do not incur any material environmental liabilities; interest rates remain stable; inflation remains relatively low; there will not be a material change in foreign exchange rates; that the impact of the current economic climate and global financial conditions on our operations will remain consistent with our current expectations; our expectations regarding the impact of the COVID-19 pandemic and government measures to contain it; our expectation regarding ongoing remote working arrangements; and competition for and availability of acquisitions remains consistent with the current climate.

All forward-looking information in this press release speaks as of October 31, 2022. The Trust does not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise, except as required by law. Additional information about these assumptions and risks and uncertainties is disclosed in the Trust’s filings with securities regulators filed on the System for Electronic Document Analysis and Retrieval (www.sedar.com), including its latest annual information form and MD&A. These filings are also available at the Trust’s website at www.dreamimpacttrust.ca.

Contacts

For further information, please contact:

Meaghan Peloso
Chief Financial Officer

416 365-6322

mpeloso@dream.ca

Kimberly Lefever
Director, Investor Relations

416 365-6339

klefever@dream.ca

• GRESB Improvements Achieved, Building on Longstanding Climate Transparency and Accountability Efforts
• Scored 91/100, Ten Points above GRESB Global Development Benchmark Average
• Placed 1^st in both GRESB score and Development score within Americas, Non-listed, Core, Closed end
• Earned a 4 Green Star rating for Development

VANCOUVER, British Columbia–(BUSINESS WIRE)–Grosvenor, a privately held property owner and developer with a 70-year track record in North America, announces increased ratings in the 2022 Global Real Estate Sustainability Benchmark (GRESB®) Real Estate Assessment for both its property Development and Investment activity, exceeding benchmark averages in Leadership, Policies, Reporting and Stakeholder Engagement.

“Grosvenor has been publicly disclosing our reduction efforts for the last 15 years. 2022 marks our second GRESB reporting cycle, and we are pleased to see improved rankings across all categories,” said Steve O’Connell, CEO of Grosvenor’s North American property business. “Our history of public reporting reflects our belief in the importance of transparency and accountability; GRESB is a globally-recognized benchmarking tool that helps us focus our activities and provides clarity on our performance for our like-minded capital partners.”

In release of this year’s GRESB scores, Grosvenor has shown significant increases in its annual ratings, particularly in Development, which led the way with a score of 91, a 17-point improvement from 2021, securing four Green Stars and eleven points above industry peer average of 80. Grosvenor placed 1^st in both GRESB score and Development score within Americas, Non-listed, Core, Closed end ranking.

Additional highlights from the Development assessment include scoring top marks in the ESG Requirements, Materials, Waste, and Water Consumption categories. In the Standing Investment assessment, Grosvenor increased 7 points to 72 and earned higher than benchmark average scores in the Targets, Waste, Tenants & Community and Data Monitoring & Review categories.

According to GRESB, an independent group that measures the ESG performance of individual assets and portfolios based on self-reported data, 1,820 entities participated in the 2022 Real Estate Benchmark, covering USD 6.9 trillion of gross asset value (GAV) across 74 countries.

“Earning 4-stars for Development in our second GRESB reporting year makes a powerful statement about our commitment to managing Grosvenor’s impacts on the places in which we build and invest. Being validated by GRESB, a respected tool that has helped standardize reporting across our industry, speaks volumes,” said Tanja Milosevic, Grosvenor’s Associate Vice President of ESG in North America. “We will continue to improve our business operations to meet and exceed our sustainability, social, and governance goals.”

In 2019, Grosvenor was among the first real estate companies in North America to sign the World Green Building Council’s Net Zero Carbon Buildings Commitment. In the U.S. and Canada, Grosvenor is aiming to exceed that commitment through several reduction targets for 2030:

• Carbon neutrality: 100 per cent Scope 1 and 2 operational emissions and 40% Scope 3 embodied carbon emissions reductions.
• Energy efficiency: 20 per cent reduction in tenant spaces; continuing and expanding the ‘green’ leases that we have been pursuing for the last 12 years; and engaging with existing tenants to obtain emissions data to work toward reduction.
• Clean energy: 50 per cent​ of electricity consumption provided from renewable sources; investing in on-site renewables now and using some green tariffs, especially in California.
• Partnerships: 75 per cent ​of suppliers, tenants and investors agreeing to an internal supply chain charter.

About Grosvenor

Grosvenor has been an active property owner and developer in the U.S. and Canada for 70 years. We focus on vibrant urban locations, making positive contributions to neighborhoods and communities. As of December 31, 2021, we had assets under management of USD$3.6bn.

In North America, we signed the World Green Building Council’s Net Zero Carbon Buildings Commitment in 2019 and have been publicly reporting our annual consumption and reduction values for 15 years. We are guided by industry leading ESG business principles and we report to the Global Real Estate Sustainability Benchmark (GRESB).

Part of an international property company with a track record of over 340 years, we develop, manage, and invest to improve property and places across many of the world’s leading cities, promoting sustainability within the built environment, and enhancing the wellbeing of our customers and communities.

We are a values-led organization which represents the Grosvenor family. Our work in property, alongside Grosvenor’s other activities in food & agtech, rural estate management and support for charitable initiatives, shares a common purpose – to deliver lasting commercial, social and environmental benefit –​​​​​​​ addressing today’s needs while taking responsibility for those of future generations. www.grosvenor.com

Follow us on

Twitter: @GrosvenorGRP | LinkedIn: Grosvenor| Instagram: ThisisGrosvenor

Copyright © Grosvenor ALL RIGHTS RESERVED

Contacts

For more information:
Great Ink Communications
Roxanne Donovan, Tom Nolan, Rick Van Warner, Eric Waters

+1 212-741-2977

Grosvenor@GreatInk.com

Free, Open-Access Tool for Built Environment Sector to Support Carbon-Smart Procurement Decisions

SEATTLE–(BUSINESS WIRE)–Building Transparency, a nonprofit organization that provides open-access data and tools to foster a better building future, today announces the launch of the beta version of its latest tool, Tally Climate Action Tool (tallyCAT), which is keenly focused on carbon reductions. Developed in collaboration with Perkins&Will and C-Change Labs and funded by the Province of British Columbia, this free and open-access tool provides the data necessary to prioritize low-carbon products and make environmentally responsible decisions early, swiftly, and confidently – all while working within Revit, a building information modeling (BIM) software.

tallyCAT beta marks an important milestone for the building and construction industry as it is being launched at a time when attention to embodied carbon reduction is a growing priority. The tool provides designers with real-time information on material performance and carbon impacts via direct access to the Embodied Carbon in Construction Calculator’s (EC3’s) global database of Environmental Product Declarations (EPDs) – the primary pathway for manufacturers to communicate the environmental impacts of their products. It will also integrate directly into Revit, saving designers time and allowing them to scale up.

“Our team at Building Transparency is hyper-focused on providing the tools and resources needed to help the built environment industry understand, measure, and reduce its embodied carbon emissions,” said Stacy Smedley, Executive Director at Building Transparency. “The tallyCAT beta tool is another step for us in providing a robust ecosystem of tools to enable action and the prioritization of low-carbon design and procurement decisions. With this new tool, we’re able to meet designers where they are in Revit and provide the data necessary to drive green specification and procurement.”

Development & Support of tallyCAT

The development of tallyCAT beta is made possible through a partnership between Building Transparency Canada, Perkins&Will, and C-Change Labs, who are focused on driving carbon reductions in the industry. This group of innovators was awarded a $460,000 grant from the Province of British Columbia’s 2021 CleanBC Building Innovation Fund to bolster development of this project.

The tallyCAT team aims to ignite widespread change in the building, design, and construction sectors. “We are co-developing tallyCAT with the aspiration of bringing low-carbon product selection into the design process, developing data-informed workflows that can become integral to every project,” said Jesce Walz, a designer and carbon leader at Perkins&Will. “Our team is focused on leveraging the power of open access tools and collaborative partnerships to improve our industry’s environmental impacts.”

Also in 2021, world-renowned architecture firm, KieranTimberlake, gifted Tally, the life cycle assessment (LCA) tool to Building Transparency for its continued management, hosting, and development. The tallyCAT design team is leveraging the capabilities of Tally LCA and EC3 to develop tallyCAT into a free and open-access next-generation climate action tool. The early-access beta version of tallyCAT is the initial socialization of a Revit-based carbon reduction tool that integrates with EC3 and is a significant milestone on the journey to make low-carbon product decisions earlier in the design lifecycle.

“We are grateful for the financial support from the Province of British Columbia through the Ministry of Energy, Mines and Low Carbon Innovation and to KieranTimberlake for trusting our team with Tally LCA,” said Smedley. “These organizations have made the development of tallyCAT possible as we work to drive climate action in the built environment sector.”

Today, the Tally LCA tool and now, tallyCAT, support the direct export of material quantities from Revit to EC3, streamlining the process to evaluate project material conditions. Additionally, tallyCAT allows for synchronization between Revit and EC3, making it easier to identify carbon reduction opportunities within the Revit environment. Building Transparency, Perkins&Will and C-Change Labs hope to make tallyCAT a whole-life carbon tool and plans to release an updated version in 2023.

Ongoing Management of Tally LCA

At the same time, the nonprofit will continue to maintain Tally as an LCA tool. Moving forward, this tool will be referred to as tallyLCA, reflecting its ability to help measure multiple categories of environmental impact beyond embodied carbon and support users looking to inform sustainable design from a holistic perspective of ecosystem impact reduction. Building Transparency has also kicked off a project to create a free, open-access building material LCA dataset, which will enable tallyLCA to become the nonprofit’s third free tool offering upon its completion.

“We are thrilled to continue our support of Building Transparency’s ecosystem of open-access carbon-reduction tools,” said Billie Faircloth, Partner and Research Director of KieranTimberlake. “We look forward to transitioning tallyLCA into a free and open-access tool.”

tallyCAT beta Launch at Greenbuild

tallyCAT beta will be launched at and demoed throughout the Greenbuild Conference and Expo, taking place from November 1 – 3, 2022, at the Moscone Center in San Francisco, CA. Attendees will be able to learn more about tallyCAT and other updates and initiatives from Building Transparency at Booth #1839. The team will lead demos and participate in panel discussions and sessions about embodied carbon, low-carbon procurement, and the need for material innovations within the built environment sector.

Attendees can learn more about the education sessions and other experiences at Greenbuild at: https://informaconnect.com/greenbuild/

About Building Transparency

Building Transparency is a 501(c)3 nonprofit organization that provides open-access data and tools that support broad and swift action across the building industry in addressing embodied carbon’s role in climate change. Formed in 2020, Building Transparency hosts, manages, and maintains the Embodied Carbon in Construction Calculator (EC3) tool, which provides thousands of digitized EPDs in a free, open-source database, and tallyLCA, the nonprofit’s life cycle assessment tool. Building Transparency strives to provide the resources and education necessary to shape a better building future through promoting the adoption of the EC3 tool and tallyLCA, establishing the official materialsCAN and ownersCAN programs, and working with global policymakers.

About Perkins&Will

Perkins&Will, an interdisciplinary, research-based architecture and design firm, was founded in 1935 on the belief that design has the power to transform lives. Guided by its core values—design excellence, diversity and inclusion, living design, research, resilience, social purpose, sustainability, and well-being—the firm is committed to designing a better, more beautiful world. Fast Company has named Perkins&Will one of the World’s Most Innovative Companies in Architecture three times, and in 2021, it added the firm to its list of Brands That Matter—making Perkins&Will the only architecture practice in the world to earn the distinction. With an international team of more than 2,000 professionals, the firm has over 20 studios worldwide, providing integrated services in architecture, interior design, branded environments, urban design, and landscape architecture. Industry rankings consistently place the firm among the world’s top design practices. Partners include Danish architects Schmidt Hammer Lassen; retail strategy and design consultancy Portland; sustainable transportation planning consultancy NelsonNygaard; and luxury hospitality design firm Pierre-Yves Rochon (PYR). For more information, visit www.perkinswill.com.

Contacts

Building Transparency Contact
Kelly Ronna

Trevelino/Keller

kronna@trevelinokeller.com

Perkins&Will Contact
Vicky Su

Perkins&Will

Vicky.su@perkinswill.com