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The Effects of Decarbonization on Building Profitability

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Unveiling of Générations 1,5 °C: la rentabilité du bâtiment durable, a study conducted by the Fonds immobilier de solidarité FTQ, Groupe Devimco, Hydro-Québec and Énergir

MONTRÉAL, Sept. 26, 2024 /CNW/ – The Fonds immobilier de solidarité FTQ and its partners, Groupe Devimco, Hydro-Québec and Énergir, today unveiled the findings of Générations 1,5 ̊C, an action-research project demonstrating the financial value of sustainable construction as Québec moves towards decarbonizing its built environment. The results were presented today to over 300 people from the real estate and finance industries.

Spearheaded by the Fonds immobilier and conducted by Akonovia, with the collaboration of Vertima for the life cycle assessments and BJC for the financial modelling, the study used complete data from the past year to model the financial performance of a multi-residential building in the Fonds immobilier’s portfolio built in 2018 at a cost of $60 million.

The study assessed the impact of additional investments in sustainable measures on the value of a property using, for example, a more efficient electromechanical system, a variety of energy systems and low-carbon materials.

A 45% increase in value 
The findings are conclusive: the value of a sustainably designed building can increase by as much as 45% in the 10th year following construction. For the purposes of this exercise, the construction cost of the reference building was discounted to $100 million, and its useful life was set at 60 years.

The sustainable measures chosen to improve its energy performance and reduce carbon intensity (operational and embodied carbon) entailed an additional investment of $6 million dollars (6%).

“The additional investment in optimizing the building’s environmental performance was well worth it, especially since climate change is getting worse and its impact will be felt ever more acutely in the real estate industry. We’ve shown that investing in a building’s sustainability and in both its physical and financial resilience is key to fighting climate change and to increasing its value,” said Serge Cormier, Vice-President, ESG, Value Creation and Sustainable Real Estate, at the Fonds immobilier de solidarité FTQ.

The Générations 1,5 ̊C study shows that incorporating sustainability into building design is no longer an option but an imperative, and that the time to act is now.

Quotes
“Based on the findings of the study, developers should consider making the additional upfront investment that sustainable construction may entail. It is more important than ever that operational and embodied carbon be reduced in new construction. As well, it’s worth noting that sustainable buildings can also offer additional value in terms of customer experience through the quality of spaces and indoor air.”

Caroline Girard,
Vice-President, Property Management, Groupe Devimco

“An important finding of the study is that carbon emissions associated with energy consumption are only part of the equation. A true decarbonization strategy must also take into account embodied carbon emissions, those associated, for example, with the manufacture of construction materials, which account for a large proportion of a project’s GHGs. As far as energy is concerned, the most important finding for Hydro-Québec is that by implementing measures to improve energy efficiency and manage power demand, you can have an almost zero-carbon building without increasing the energy or power demand.”

Éric Bernier,
Director, Business Customers and Energy Solutions, Hydro-Québec

“Buildings of the future will have to rely on renewable multi-energy systems, thus contributing not only to their physical and financial resilience but also helping to accelerate the decarbonization of the entire economy. System redundancy ensures the continuity of essential services such as space heating in the event of a breakdown, while the hybrid solutions proposed in the report are well suited to changing energy rates. The configurations selected for the study demonstrate the added value of complementary renewable electric and gas systems…”.

Brigitte Samson,
Senior Executive Director, Customer Energy Solutions & Customer Service, Énergir

“For a number of years now, the energy efficiency market has been looking only at the payback period for projects, targeting a five-year period. Against the backdrop of accelerating climate change, we should be looking more at the risk of not investing. If we look at the various risks, including having to reinvest in a building that will no longer meet market requirements, we are exposing ourselves to several potential risks.”

Philippe Hudon,
President, Akonovia

The modelling scenarios

Discounted construction cost in 2023 = $100 million ($60 million in 2018).Additional investment of 6% to improve energy performance and decarbonize (embedded and operational carbon) = $6 million.Energy modelling.GHG modelling, including fugitive emissions from refrigerants.Life cycle assessment of materials (embodied carbon), focusing mainly on the structure. The useful life was set at 60 years.Optimal selection of equipment and energy sources with the aim of achieving a just energy transition and improving the asset’s resilience. Two concepts were thus analyzed.Efficient use of electricity as the main source of energy;Use of renewable natural gas as a back-up or redundant power supply;Bioenergy;Thermal pump;Electromechanical equipment allowing full flexibility and the addition of future components depending on the availability of new renewable energy sources;Peak shaving (power management).Financial modelling.

Risks considered
A number of risks that could affect value over time were identified during modelling:

Decrease, limited increase or stagnation of rental income over time compared to the competition, which has evolved in line with changes to building codes and regulatory requirements;Increases in energy costs (electricity and gas);Price of carbon (embedded and operational);Bank interest rate incentives or penalties;Variation in insurance costs;Variation in exit cap rate.

Reference building (existing)

Initial cash flow = 100%Adjusted cash flow after 7 years = 85% (15% loss)Cash flow in year 10 following retrofit obligation in year 7 due to stricter regulatory requirements = 20% (80% loss)

Energy-efficient building (additional upfront investment of 6%):

Initial cash flow = 85% (due to additional investment)No retrofit requiredCash flow in year 10 due to the elimination of the main risks that could affect its value = 130% (45% gain)

Definitions

Operational carbon: The emissions associated with energy used to operate the building, including heating, cooling, lighting and other activities required for its operation.

Embodied carbon: Refers to the greenhouse gas emissions associated with materials and construction processes throughout the whole life cycle of a building, including raw material extraction, transportation, manufacturing, construction, deconstruction and disposal. (Ref. CBDCA)

About the Fonds immobilier de solidarité FTQ

The Fonds immobilier de solidarité FTQ drives economic growth and employment in Québec by strategically investing in profitable and socially responsible real estate projects in partnership with leading industry players. The Fonds immobilier supports projects across Québec in the residential, office, commercial, institutional and industrial sectors, in particular those that consider ESG (environmental, social, governance) factors with a view to developing sustainable properties.  As at June 30, 2024, the Fonds immobilier had 31 real estate projects in development or construction and 13.4 million square feet of development, for a combined value of $5.1 billion; 83 portfolio properties under management, including 5,404 residential rental units, and a cumulative total of $355 million invested in social and community projects. The Fonds immobilier is a member of the Canada Green Building Council — Québec division.

Groupe Devimco
Groupe Devimco is a Québec real estate development leader that stands out for the creation and execution of large real estate projects, in particular lifestyle and TOD complexes that blend commercial, business, leisure, and housing components. Combining innovation and creativity, Groupe Devimco participates in enhancing the environments it creates and the communities where they are located, for the benefit of its occupants and visitors. Devimco and Concordia University recently partnered to found the university’s Next-Generation Cities Institute.

Hydro-Québec
We have been generating, transmitting and distributing electricity for over 75 years. We do our utmost to provide you with a reliable supply of electricity and services tailored to your needs at competitive prices; while helping you consume energy wisely. By making use of clean, renewable energy sources, we contribute to Québec’s prosperity and play a central role in the emergence of a green, sustainable economy. But we want to do even more. That’s why we’re counting on the collective strength of Quebecers to help us build the energy future of our dreams.

Énergir
With more than $10 billion in assets, Énergir is a diversified energy business whose mission is to find increasingly sustainable ways to meet the energy needs of approximately 540,000 customers and the communities it serves in Québec and Vermont. It is the largest natural gas distribution company in Québec, where, by way of joint ventures, it also generates electricity from wind power. Through its subsidiaries and other investments, Énergir has a presence in the United States, where it generates electricity from hydraulic, wind and solar sources; it is also the largest electricity distributor and the sole natural gas distributor in the State of Vermont.  Énergir values energy efficiency and invests its resources and continues its efforts in innovative energy projects, such as renewable natural gas and liquefied and compressed natural gas. Through its subsidiaries, it also offers a variety of energy services. Énergir strives to become the partner of choice for those seeking a better energy future.

SOURCE Le Fonds de Solidarité des Travailleurs du Québec (FTQ)

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BOLLINGER MOTORS PARTNERS WITH NATIONAL AUTO FLEET GROUP FOR GOVERNMENT FLEET VEHICLE SALES

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November 15, 2024

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Bollinger B4 Class 4 Electric Trucks Provide Electrification Solution Through NAFG Sourcewell Contract Agreement

OAK PARK, Mich., Nov. 15, 2024 /PRNewswire/ — Bollinger Motors, Inc., a commercial electric vehicle (“EV”) manufacturer, today announced it has partnered with National Auto Fleet Group (NAFG) to sell its all-electric Class 4 Bollinger B4 commercial trucks to government agencies through NAFG’s Sourcewell-awarded contract #032824-NAF.

“Bollinger Motors is excited to work with National Auto Fleet Group to bring the Bollinger B4 to one of our most important customer groups, government entities at all levels,” said Jim Connelly, chief revenue officer of Bollinger Motors. “Government agencies and municipalities are often early adopters for electrification and electric vehicle fleets. We look forward to partnering with NAFG, and their history of bringing innovative products and solutions to this important segment.”

The Bollinger B4 Chassis Cab is an all-new, all-electric Class 4 commercial truck designed from the ground up with extensive fleet and upfitter input. The vehicle has a range of 185 miles and a payload of 7,394 lbs. Bollinger’s unique chassis design protects the 158-kwh battery pack and components to offer unparalleled capability, performance and safety in the commercial market. The Bollinger B4 is an excellent fit for commercial and government/municipal fleets looking for a world-class truck, capable of performing a variety of job functions.

“At National Auto Fleet Group, we take pride in helping municipalities find and manage their fleet vehicles,” said Ben Rodriguez, HD Manager of National Auto Fleet Group. “The Bollinger B4 is an excellent addition to our vehicle portfolio and will help fill a key product need for multiple government organizations developing electrification strategies.”

Sourcewell is a self-sustaining government organization, with more than 40 years of dedicated service helping government, education, and nonprofit agencies operate more efficiently through a variety of solutions. NAFG is a vehicle vendor catering to government agencies and municipalities across the country. The agreement with NAFG provides Bollinger Motors a conduit to winning more government contracts.

Bollinger Motors has passed numerous milestones in the past several months, including:

Its production launch on Sept. 16;Regulatory achievements including FMVSS compliance, receiving the Certificate of Conformity from the Environmental Protection Agency, and CARB certification;A 145-vehicle agreement with Momentum Group;A 70-vehicle agreement with Doering Fleet Management;A 50-vehicle agreement with EnviroCharge;The addition of Anderson Motors, TEC Equipment, Affinity Truck Center, Nacarato Truck Centers, Nuss Truck & Equipment, and LaFontaine Automotive Group as dealers and service centers;Working with Our Next Energy in Novi, Michigan, to supply battery packs;Providing a full warranty coverage of the B4 chassis cab; and,Announcing Syncron as its warranty administration partner and Amerit Fleet Solutions as its mobile service provider.

ABOUT BOLLINGER MOTORS

Founded in 2015 by Robert Bollinger, Bollinger Motors, Inc. is a U.S.-based company headquartered in Oak Park, Mich. Bollinger Motors is developing all-electric commercial chassis cab trucks, Classes 4-6. In September of 2022, Bollinger Motors became a majority owned company of Mullen Automotive, Inc. (NASDAQ: MULN). Learn more at www.BollingerMotors.com and www.MullenUSA.com.

FORWARD-LOOKING STATEMENT

Certain statements in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1934, as amended. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as “continue,” “will,” “may,” “could,” “should,” “expect,” “expected,” “plans,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential” and similar expressions are intended to identify such forward-looking statements. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Bollinger Motors and are difficult to predict. Examples of such risks and uncertainties include: (a) Bollinger Motors’ continued partnership with NAFG and NAFG’s ability to sell Bollinger Motors vehicles; (b) Bollinger Motors’ ability to finalize a sales agreement with Momentum Group, Doering Fleet Management, and EnviroCharge and deliver purchased vehicles on schedule; (c) Bollinger Motors’ continued partnership with Nacarato Truck Centers, TEC Equipment, Affinity Truck Center, Nuss Truck & Equipment, and LaFontaine Automotive Group; (d) Bollinger Motors’ continued partnership with Our Next Energy as a battery supplier; (e) Bollinger Motors’ continued relationship with Syncron as its warranty administration provider; and (f) Bollinger Motors’ continued relationship with Amerit Fleet Solutions as its mobile service provider.

Additional examples of such risks and uncertainties include but are not limited to: (i) Bollinger Motors’ ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Bollinger Motors’ ability to maintain existing, and secure additional, contracts with manufacturers, parts and other service providers relating to its business; (iii) Bollinger Motors’ ability to successfully expand in existing markets and enter new markets; (iv) Bollinger Motors’ ability to successfully manage and integrate any acquisitions of businesses, solutions or technologies; (v) unanticipated operating costs, transaction costs and actual or contingent liabilities; (vi) the ability to attract and retain qualified employees and key personnel; (vii) adverse effects of increased competition on Bollinger Motors’ business; (viii) changes in government licensing and regulation that may adversely affect Bollinger Motors’ business; (ix) the risk that changes in consumer behavior could adversely affect Bollinger Motors’ business; (x) Bollinger Motors’ ability to protect its intellectual property; (xi) the vehicles developed will perform as expected and (xii) local, industry and general business and economic conditions. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent annual report on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K filed by Mullen Automotive, Inc., of which Bollinger Motors is a partially owned subsidiary, with the Securities and Exchange Commission. Bollinger Motors anticipates that subsequent events and developments may cause its plans, intentions, and expectations to change. Bollinger Motors assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether because of new information, future events, or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing Bollinger Motors’ plans and expectations as of any subsequent date.

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SOURCE Bollinger Motors

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Furniture.com Launches Deal Finder to Help Shoppers Find Every Single Furniture Deal Online and In-Store this Holiday Season

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November 15, 2024

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Furniture.com’s Deal Finder will source the best deals in furniture

ATLANTA, Nov. 15, 2024 /PRNewswire/ — Furniture.com, today announced the launch of its Deal Finder, a feature designed to connect shoppers with the best furniture and home goods deals online and in their neighborhoods. Deal Finder is the first of many shopper experience tools that Furniture.com will unveil as it grows in the US market.

About the Deal Finder
The Deal Finder aggregates every furniture deal and promotion from recognizable and trusted brands so customers don’t have to worry about finding the best deals in furniture. Customers easily input their location and find the most relevant deals online and near them.

By utilizing advanced algorithms and real-time data analytics, The Deal Finder will match shoppers with furniture that feels like them, is from a brand they trust, and is nearby.  By bridging the gap between consumers and retailers, and clearing out the unnecessary pop-ups and wild goose chases, Deal Finder will empower users to discover discounts and exclusive offers all while finding incredible design.

Shoppers will find deals from brands like One Kings Lane, Rooms To Go, Lamps Plus and more. To start shopping for better deals this holiday season, check it out here.

The Deal Finder is Part of Furniture.com’s Larger Plan to Re-invigorate Furniture Buying for Everyone.
Searching for furniture can be stressful and furniture buying has long been a point of contention for shoppers: 90% of furniture buyers prefer to test out furniture in-person before making a decision while 74% of buyers start the furniture search online. Furniture.com presents buyers with the tools they need to whittle down their furniture search process so that they can make their decisions faster and more confidently.

“Finding the best deal can be overwhelming. Our Deal Finder will help shoppers in a plethora of ways: from cutting down on hours spent online, to finding local furniture they can actually try out, to making sure they are getting the best deals,” said Alex Seaman, SVP and Co-Founder at Furniture.com “With Deal Finder, we are redefining the shopping experience by ensuring that every consumer can find the products they love without the hassle of endless searching.”

Furniture.com uses intuitive tech, AI, and location-based information to help shoppers find better deals and ultimately, the furniture they crave. The platform is set to transform the way consumers shop, making the furniture buying experience easier, more enjoyable and affordable.

“At Furniture.com, we’re focused on innovating the shopping experiences for retailers and consumers alike,” said Dan Bennett, Chief Marketing Officer at Furniture.com. “We’re committed to revolutionizing how we visualize, experience and purchase from brands in the home goods space and Deal Finder is just the beginning.”

About Furniture.com
Furniture.com is a high-growth technology business that is addressing fundamental challenges in the $200 billion U.S. furniture space. We have one mission: Make finding furniture easy and enjoyable. We have built an advanced discovery tool that facilitates, enhances, and streamlines the furniture purchase journey — both for B2C and B2B. Consumers can search across dozens of brands and thousands of products using our proprietary algorithm, AI tools, and comparison filters to find exactly what they’re looking for. For retail partners, we deliver a digital platform that’s been proven to expand their reach with a new, high-intent furniture audience.

Our team is comprised of world-class furniture experts, technologists, and brand builders. We are data-driven, solution-oriented, and general enthusiasts of beautiful designs and experiences. You can find us in one of our two offices, located in Atlanta and NYC.

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SOURCE Furniture.com

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CaloPal: The Calorie AI Assistant That Makes Weight Loss Easier

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November 15, 2024

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NEW YORK, Nov. 15, 2024 /PRNewswire/ — As the focus on healthy lifestyles grows worldwide, CaloPal introduces a groundbreaking AI-powered calorie tracking assistant, providing global users with a simple and scientific tool for weight management. Using advanced AI technology, CaloPal helps users track their daily calorie intake in real time and offers personalized dietary and health management advice, simplifying the health management process and creating a more effective weight loss solution.

Science shows that the core of weight loss lies in balancing calorie intake and expenditure. However, many people don’t fully understand the connection between food and calories, making it challenging to track food calories and plan calorie intake. Previously, people had to manually input data and perform complex operations to obtain relevant information, which made these tools cumbersome and hard to maintain over time. Additionally, earlier health tools such as calorie counter and calorie tracker couldn’t offer personalized dietary advice, making weight control a lengthy and frustrating process. Now, everything is about to change. CaloPal ensures calorie data accuracy while providing users with personalized dietary recommendations, making weight loss a much easier journey.

Nick, the founder of CaloPal, stated, “CaloPal is a revolutionary AI calorie tracking application designed for users focused on health and weight management. We’ve simplified the calorie tracking process with the latest AI technology. Users only need to take a photo of their food, and CaloPal will automatically identify the food type, analyze its components, calculate calories, and provide a nutritional breakdown. CaloPal allows users to effortlessly track their daily calorie intake without manual input, making health management much more convenient and supporting long-term calorie tracking. Additionally, CaloPal offers personalized dietary recommendations based on users’ data, helping them achieve their weight management goals more easily through balanced nutrition.”

CaloPal assists users in controlling weight through the following features:

Smart Food RecognitionReal-Time Nutritional Data AnalysisPersonalized Weight Loss RecommendationsDiet and Weight Tracking

CaloPal is now available for users to try for free through the app (App Store download link: CaloPal on App Store) and the website, Fitness Pal will be released later this month。For more information about this product and the latest updates on CaloPal, please visit our website：https://calopal.ai/

Media Contact
contact@calopal.ai

View original content:https://www.prnewswire.com/news-releases/calopal-the-calorie-ai-assistant-that-makes-weight-loss-easier-302305614.html

SOURCE CaloPal

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