SEATTLE--(BUSINESS WIRE)--Today Sustainable Living Innovations (SLI) announced that it has closed its Accelerated Growth fundraising round with approximately $53 million of corporate equity raised from existing and new investors. The round closed January 7, 2022.
Investors in the company include Goldman Sachs, Equity Residential, The Hunt Companies, strategic partners and developers, and many high-net-worth individuals and leading family offices.
“We are grateful for the support of our investors – both new and existing – and their commitment to what we are trying to accomplish,” said SLI CEO Arlan Collins. “This capital funds the sustained growth of the company, several important projects in our pipeline, expansion of our manufacturing facility in Tacoma, Washington, and continued product development and innovation. We continue to see significant interest in the SLI technology as we grow our pipeline.”
SLI’s patent-protected technology platform is a new way to build, using wall and floor panels that are manufactured with electrical wiring, plumbing, mechanical, fire safety and network systems equipment pre-installed. By designing and manufacturing buildings as a product similar to cars and airplanes, SLI’s high-rise buildings go up faster and meet the world’s highest standards of sustainability.
SLI and its development partner recently broke ground on a five-story, 124-unit apartment building in Seattle that will house individuals who have experienced long-term homelessness, and the company is currently building the world’s most sustainable high-rise apartment building, 303 Battery. 303 Battery will be the world’s first multifamily tower to meet the stringent net zero energy requirements set by the International Living Future Institute’s Living Building Challenge program.
About Sustainable Living Innovations
Sustainable Living Innovations (SLI) is a building technology and product development company that is disrupting the world’s largest addressable market by reimagining how buildings are designed, built, and operated. The company is revolutionizing the built environment by producing technology-enabled finished buildings that exceed the world’s most stringent sustainability standards and also help solve the affordable housing crisis. SLI designs, develops, and manufactures complete technology-enabled buildings using proprietary, high-performance building panels complete with integrated mechanical, electrical, plumbing, fire safety and network systems infrastructure. SLI’s finished buildings are more sustainable, as well as faster to design and complete versus conventional buildings. The company employs more than 80 people with offices in Seattle and Denver and operates a showroom in Seattle and a manufacturing facility in Tacoma, Washington.
303 Battery
The 15-story, 112-unit 303 Battery, located in downtown Seattle’s Belltown neighborhood, will be the world’s first multifamily tower to meet the stringent net zero energy requirements set by the International Living Future Institute’s Living Building Challenge program, the same organization that certified Seattle’s Bullitt Center. Features include solar panels on the building’s roof, exterior walls and balconies, greywater and waste heat recovery systems, ultra-efficient hydronic heating and cooling systems, regenerative elevator motors, distributed DC power systems, and SLI’s advanced network systems and data management platform to ensure optimal building operations.
303 Battery will be complete this fall and has been pre-sold to Equity Residential (NYSE: EQR). Equity Residential is an S&P 500 company focused on the acquisition, development and management of rental apartment properties located in urban and high-density suburban markets.
