Climate Fund – €6 million capital loan to Infrakit for the development and commercialisation of sustainability functionalities for boosting emissions reductions in infrastructure building
The Finnish Climate Fund has decided on a capital loan of up to 6 million euros to Infrakit Group Oy for the development of sustainability functionalities in their data management service, as well as for boosting the software’s international deployment. Improving the efficiency of transport and the utilisation of machines and materials can reduce the emissions of infrastructure construction sites by an estimated 5%.
Infrastructure building refers to the construction of, for example, transport routes, logistics centres, energy infrastructure or industrial structures. The sector’s annual emissions in Finland are approximately 1.4 Mt CO2eq, of which roughly 55% is generated by the fuel consumption of machinery and vehicles.
Infrakit offers data management services for infrastructure projects, particularly for reducing the duration and costs of construction. ”Until now, we have been able to promise our customers savings of approximately 20% in overall infrastructure building costs by improving the efficiency of operations with our service. Many projects have also been completed ahead of schedule, like the 70-million-euro project on Highway 3. Now we want to bring the same benefits to sustainability”, says Infrakit’s CEO, Teemu Kivimäki.
Infrakit’s sustainability function will offer more precise information and tools for boosting emissions reductions to construction companies and infrastructure managers in Finland and abroad. The service lets its users leverage climate and environmental data as well as measure and anticipate the emissions generated by their operations.
”Infrakit’s comprehensive data management service is one way of boosting the sustainability perspective in the construction sector. For example, cities and municipalities could use the service to set requirements and goals for builders regarding their emissions. Our investment accelerates the growth of an emissions-reducing solution and enables the development of new sustainability functionalities”, says CEO Paula Laine of the Climate Fund, shedding light on the reasons behind the investment decision.
Infrakit’s solution
Infrakit Group Oy is a company established in 2010 that offers cloud-based data management services to infrastructure construction sites. Infrakit’s solution has already been used in over 3,000 Finnish and international projects worth more than 30 billion euros in total.
The emissions reductions achieved by Infrakit are indirect: its technology enables the recognition of emissions but the ultimate emissions reductions depend on the corrective action taken by the company’s customers instead of directly from the technology or product of the company being financed. Infrakit’s _builder_version=”4.16″ _module_preset=”default” custom_padding=”20px|20px|20px|20px|false|false” global_colors_info=”{}”][et_pb_column type=”1_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.16″ _module_preset=”default” background_color=”#ffffff” custom_padding=”20px|20px|20px|20px|false|false” global_colors_info=”{}”]
