• The $9.5 trillion market opportunity: how INOVUES is transforming energy-efficiency in real estate

  • Mar 24 2023
  • Duración: 32 m
  • Podcast

The $9.5 trillion market opportunity: how INOVUES is transforming energy-efficiency in real estate  Por  arte de portada

The $9.5 trillion market opportunity: how INOVUES is transforming energy-efficiency in real estate

  • Resumen

  • A warm welcome to the 112 new subscribers who have joined since the last edition!If you’re reading this and haven’t subscribed, sign up below to join a high-value network of 2,300 climate tech entrepreneurs, industry leaders and investors.The Green Techpreneur (GT) will provide you with the tools, resources and connections you need to make your mark on the planet with your climate tech business! Every other week, I interview extraordinary climate tech entrepreneurs, investors and sustainability experts to share practical advice on how to build, grow, and thrive. Follow the GT podcast on Apple Podcasts or Spotify.As an architect from Syria, Anas da Kassas, Founder and CEO of INOVUES, has come a long way. His journey into green techpreneurship took him from Damascus to Dubai where he worked in architectural facade engineering and manufacturing before moving to Boston to get a Master’s degree in architecture. Along the way, Anas caught the entrepreneurial bug. He wanted to create scaleable solutions for buildings that could help tackle the climate crisis: “the problem for me was that you invest several years in every project, but it's a one-off prototype. You go to the next project and you face the same challenges again.He was staring out the window of his apartment, brainstorming ideas that could have a big impact, when the window itself became his source of inspiration: “I thought, ‘what if there was a way to transform these windows into smart systems without having to remove or replace anything at all? I was thinking about ideas from my multidisciplinary experience in architecture and facade engineering.”That was the day INOVUES – innovative views – was born. Anas’ idea has since grown into a multiple-award winning startup that has already participated in several accelerators including Bill Gates’ Breakthrough Energy and is ready to take on a global $9.5 trillion market opportunity for more energy-efficient buildings. It's the only patented solution in its class that can transform building facades with the latest energy-saving and smart glass innovations without rebuilding or replacing any parts. INOVUES retrofits a second window pane to existing windows using adhesive structural material, creating a 10x cost reduction compared to existing methods, and reducing energy inefficiency of buildings by up to 40%. And with the push of the energy crisis and inflation putting pressure on energy costs and the strong pull of incentives from the US’ Inflation Reduction Act or the European Green Deal’s energy efficiency directive which requires EU countries to collectively reduce energy consumption by 9% by 2030. Anas is bringing a right place, right time, solution to conquer a real estate retrofit market that’s largely untapped.How does your solution work?We don't use mechanical fasteners in our system, we rely on structural glazing materials. The system integrates with the existing facade and does not require drilling or altering anything. It's a very clean and easy installation process, we can add a window to create double pane windows.We use 70% fewer materials compared to existing methods and prefabricate the system off-site so installation costs are cut by up to 80%, reducing the total cost of window upgrades buy up to 10 times.We’re pushing the boundaries of facade engineering on many aspects…transparent photovoltaic or dynamic tinting or vacuum insulated glass. All of these now can be available for existing buildings at a fraction of the usual cost. There’s no disruption, and no need to replace anything. How big is the market opportunity?Experts estimate that about 40% of all US buildings still have single pane windows and a lot more have low performing double pane windows, so 70% of existing building stock is in need of an upgrade. Globally, there are estimates that this is a $9.5 trillion market opportunity. The potential impact on the climate and carbon reduction is huge because windows account for up to 40% of the energy loss in buildings.Through our installations, we're reducing carbon emissions by 100 tonnes annually, and the potential impact, at scale, is close to half a giga tonne to a giga tonne of reduced emissions.These efficiencies means we can disrupt the built environment which has been painfully slow to retrofit ageing infrastructure in commercial real estate. INOVUES has already installed upgrades for leading industry players like Saint-Gobain, 3M and the University of Minnesota. 2022 was our breakout year. We finished some major pilots and got $50 million of potential projects in our pipeline. What were the make or break moments you faced in getting started?I had quite my job in Boston and moved to Houston so spend 1 year doing my architectural Master thesis on the INOVUES idea. That got me a year to devote full-time to it, but I was not making any money. We moved in with family to cut costs to almost nothing. But after a year, I told my wife: ‘if by...
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