HOUSTON, March 01, 2022 (GLOBE NEWSWIRE) -- INOVUES, the provider of the only technology that enables existing building facades to be retrofitted with the latest energy-saving and smart glass innovations without replacement or disruption, has signed a contract to install its technology at a property owned by Ascendas Reit1 (AREIT) as part of a CapitaLand Investment Limited (CLI)2 demonstration of the technology. CLI, the sponsor of AREIT, is a leading global real estate investment manager and one of the world's most sustainable companies.
As the High Impact Award winner of CapitaLand's inaugural Sustainability X Challenge (CSXC), INOVUES was selected out of over 270 entries received from more than 25 countries, to demonstrate its patented window retrofit technology at CapitaLand's Creekside 5, a three-story building in Creekside Corporate Park in Portland, Oregon.
Ms. Lynette Leong, Chief Sustainability Officer, CLI, said: "We look forward to having INOVUES on board as our sustainability partner. With properties in over 250 cities and 30 countries, CapitaLand integrates environmental, social and governance considerations into everything we do, and it is critical to the future success of our business. Through CSXC, we can source for the world's best innovations to meet our 2030 Sustainability Master Plan targets and provide companies like INOVUES with access to a range of real estate classes globally and typologies in varying climatic conditions to apply their solutions. This accelerates our efforts to reduce our carbon footprint for the built environment. We welcome more companies to join our CSXC 2022 and collaborate with us to build a sustainable planet for future generations. Registration closes on March 11, 2022."
INOVUES will install its non-invasive insulating glass retrofits (IGRs) to transform existing windows into high-performing triple-glazed windows. The overglaze IGRs will be installed from the exterior without removing, replacing, or drilling any existing building components. The retrofit will provide the same benefits of window replacement but at a fraction of the cost and without disruption to the building or occupants. Global property management company Cushman & Wakefield, the building's manager, will administer the contract and oversee the work.
"We are thrilled to be working with two of the world's leading real estate companies to help decarbonize existing buildings and accelerate the transformation into a sustainable future," said Anas Al Kassas, INOVUES Founder and CEO. "We are excited to be moving ahead with this first project and looking forward to seeing our technology contributing to saving energy and cutting carbon emissions across CapitaLand's portfolio worldwide."
INOVUES' retrofit project at Creekside 5 received cash incentives, and it is supported by NEEA who will provide third-party measurement and verification (M&V) of the energy savings. Although the building has a below-average energy use intensity and the windows are double-glazed, a calibrated energy model indicated that transforming the existing windows into high-performing triple-glazed windows using INOVUES' IGRs will significantly reduce the building's energy consumption and GHG emissions. The project will be installed in Q2 this year and will be monitored for 9 to 12 months—NEEA's M&V report is expected to be published early next year. For information on available incentives for IGRs, contact INOVUES at info@inovues.com.
About INOVUES:
INOVUES makes existing buildings more energy-efficient and sustainable by retrofitting their facades and windows with the latest energy-saving and smart glass innovations without removal, replacement, or disruption. Through its non-invasive insulating glass retrofits, INOVUES offers building owners a high-ROI low-carbon solution to save up to 40% on energy consumption, improve occupants' thermal and acoustic comfort, and increase the value and sustainability of the building.
Press Contact:
pr@inovues.com
[1] Ascendas Reit is Singapore's first and largest listed business space and industrial real estate investment trust. It was listed on the Singapore Exchange Securities Trading Limit on Nov. 19, 2002.
[2] CapitaLand Investment Limited, the real estate investment management business of CapitaLand Group, was listed on Singapore Exchange Securities Trading Limited on 20 September 2021.
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