Toronto, Ontario--(Newsfile Corp. - July 27, 2021) - Universal PropTech Inc. (TSXV: UPI) (OTCQB: UPIPF) (FSE: 8LH) ("UPI" or the "Company") is pleased to announce that the Company has signed a Partnership Agreement ("Agreement") with Laken & Associates Inc. o/a Termobuild ("Termobuild") to incorporate the use of Termobuild value engineering and hollow core concrete technology to develop carbon neutral building solutions for real estate developers and builders in Canada.
"As Universal PropTech embarks on developing energy resources, it is key to incorporate carbon neutral building solutions like Termobuild and their hollow core concrete technology," stated Frank Carnevale, Chief Growth Officer, Universal PropTech Inc. "We are driving innovation and our ability to finance solutions to create a significant barrier to entry for competitors."
"UPI collaboration with Termobuild will lead to higher performance and lower costs from the start," commented Jack Laken, President of Termobuild. "If one smart building, as dispatchable asset, can impact the load on the energy grid and the lives of end users who experience life inside the building, then a block of connected smart buildings is the ultimate goal toward a more efficient, clean and mindful future of construction."
Termobuild
Termobuild has installed systems in over 2.0 million square feet, in Canada and United States. Two of Termobuild's schools were validated by NRCan (Natural Resources Canada) as best performing sustainable schools in Canada. Recently, Termobuild had a 675.000 square foot Net Positive Development in South Carolina, USA, featured in NREL Guide to Net Zero.
Partnership
As the Company and its consortium of engineering design firms approach prospects to develop alternative energy systems and grow its Energy Resources division, they will include Termobuild within its technology mix to produce carbon net zero buildings. In instances where Termobuild isn't being sold indirectly via the Company, the Agreement includes a referral fee arrangement with Termobuild for sales.
Additionally, both the Company and Termobuild are working together to integrate the Company's building automation systems with the ability for hollow core concrete technology to store thermal loads for electricity peak shaving strategies.
Connection to Forward Looking Guidance
Consistent with the corporate second half 2021 guidance reported on June 30 2021, the Agreement with Termobuild enables the Company to deliver on strategic targets:
- Round out additional capabilities to deliver healthy buildings, such as building automation, building performance, indoor air quality and energy resources;
- Expand our share of "the wallet" from existing and new clients by offering additional products and solutions; and
- Developing alternate asset class offering with financing and/or owning energy assets.
About Universal PropTech Inc.
Universal PropTech Inc. (TSXV: UPI) (OTCQB: UPIPF) (FSE: 8LH) is a leading building innovation company, selecting, integrating, deploying, and maintaining PropTech in healthy buildings. As trusted advisors, we provide holistic evidence-driven solutions and services for building developers, owners, and operators in Canada. UPI operates through its wholly owned subsidiary, VCI Controls Inc. ("VCI"), a leading supplier and integrator of PropTech healthy building solutions and services. VCI is an industry leader in the acquisition and deployment of intelligent building technology, including the integration of all building systems utilizing the latest in communications technologies and standards. VCI's business focuses on digital controls and mechanical services, performance monitoring, and energy efficiency solutions.
With headquarters in Toronto, Universal PropTech Inc. has offices across Canada including, Halifax, Montreal, and Ottawa. For more information, visit www.universalproptech.com.
Contact Information
Universal PropTech Inc.
Chris Hazelton
President and Chief Executive Officer
chazelton@universalproptech.com
(647) 300-2957
Additional Universal PropTech Statement
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Forward Looking Statements
Certain information provided in this press release constitutes forward-looking statements and information within the meaning of applicable securities laws. Forward-looking information typically contains statements with words such as "anticipate", "believe", "forecast", expect", "plan", "intend", "estimate", "propose", "project", or similar words suggesting future outcomes. The Company cautions readers and prospective investors in the Company's securities not to place undue reliance on forward-looking information as, by its nature, it is based on current expectations regarding future events that involve a number of assumptions, inherent risks and uncertainties, which could cause actual results to differ materially from those anticipated by the Company.
The forward-looking information included herein is expressly qualified in its entirety by this cautionary statement. The forward-looking information included herein is made as of the date hereof and the Company assumes no obligation to update or revise any forward-looking information to reflect new events or circumstances, except as required by law.
Neither the TSX Venture Exchange ("Exchange"), nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
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