Buildings account for a large share of global energy consumption and the world’s greenhouse gas emissions – as much as 40 per cent according to the United Nations Energy Programme (UNEP). At the same time, a full 75 per cent of buildings in Europe are classified as inefficient, with large potential for energy savings. Energy efficiency is also a key parameter in the EU Taxonomy.
“We are interested in acquiring stakes in companies that can make a difference, and given that buildings account for a large share of all energy consumption and CO2 emissions, we believe that Metry is needed to facilitate and help property owners and others make the right investment decisions,” says Kristina Söderberg, Investment Manager at SEB Greentech VC.
She goes on to say that the need of reliable building data has increased significantly also for banks due to new EU regulations and reporting requirements.
“So when a building owner applies for financing for an investment, from a bank’s perspective they want to be able to gain access to a data package that supports their case,” Kristina explains.
Magnus Hornef, CEO and co-founder of Metry, stresses that the more sustainability becomes a financial issue, the more important it is that the data that is used in the sustainability assessment is reliable. Metry digitises access to energy data, and from its start, part of its platform has been dedicated to validation and traceability of collected data.
“Reliable data is needed to allow banks and property companies alike to make good decisions, whether it pertains to improvement measures or assessments. So we are happy to get this type of expertise from SEB and together to be able to develop Metry’s offering in ESG and real estate,” says Magnus Hornef.
According to Kristina Söderberg, what makes Metry so interesting and scalable is that the company is fully focused on making data collection on point and efficient.
“We have watched the company a long time and are interested in the internationalisation journey they have ahead of them, where they can use their depth of expertise in this area to help accelerate activities in Europe,” she says.
Invests in green technology
SEB Greentech VC invests in green technology, focusing on transformative ideas that promise substantial impact in reducing greenhouse gas emissions or in preventing transgression of the planetary boundaries.
This is SEB Greentech VC’s fifth investment. Previous investments have been made in EnginZyme, which works with sustainable chemical production; CorPower Ocean, which develops wave energy technology; C-Green Technology, which converts wet biosludge into environment-friendly biocoal; and ClimateView, which has developed a dynamic planning and visualisation tool that helps cities reduce their carbon footprint.