Canoa is Featured in the Second Annual Eclipse Carbon Optimization (ECO) Report: How Tech Benefits the Environment

Canoa is thrilled to be included in the second annual Eclipse Carbon Optimization Report.

This report provides a novel framework for assessing the potential environmental value of technologies. The 13 Eclipse portfolio companies included in this year’s report, including Canoa, have the potential to reduce annual emissions by 172 MMtCO2e by 2050, or 4% of current total U.S. carbon emissions.

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About the Report

The world is grappling with the urgent need to address greenhouse gas emissions and transition towards a sustainable future. With 55 billion tons of greenhouse gases released annually, achieving a net-zero emissions target by 2050 is imperative to avert a climate disaster. Key sectors such as agriculture, industrial manufacturing, and transportation, responsible for 75% of global economic activity, are also major contributors to greenhouse gas emissions.

Eclipse, a leader in investing in the Industrial Evolution, has adopted a rigorous and quantitative methodology for impact forecasting and developed a novel reporting framework to benefit investors and founders. This approach aligns economic growth with environmental responsibility, offering a compelling combination of benefits for both business and the planet.

To bridge the gap between financial and environmental modeling, Eclipse has adopted a rigorous methodology for impact forecasting and introduced the Eclipse Carbon Optimization (ECO) Framework. The ECO Framework, applied to a portfolio of 13 companies, shows the potential to reduce annual emissions by 172 million metric tons of CO2 equivalent by 2050. This equates to approximately 4% of current total U.S. CO2 emissions or the annual emissions of 22 million households.

Eclipse is committed to making this valuable information accessible to all, encouraging companies, investors, and asset managers to embrace the ECO Framework and drive innovation toward a net-zero economy. Collaboration and transparency are key to mitigating climate change and promoting sustainability.

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What the Report Says About Canoa

"Commercial office space is renovated every five years. Over the lifetime of a building, renovations, including new furnishings, often emit 2x or more than building construction itself. This is both economically and environmentally inefficient and costly."

"Canoa allows companies to digitally render their office footprint and design new spaces with highly modular, recyclable designs/furniture, eliminating the need for full renovations. Instead, offices can be redesigned without construction, new flooring, or new furniture. This increases flexibility and saves customers money, while also reducing per unit emissions by ~27% relative to full renovations. We assume 9% market penetration in the U.S. for Canoa by 2050, which results in a 11.3 MMtCO₂e reduction annually."

"Construction is a large emissions contributor (>10%), and the industry has evolved very slowly. Canoa is creating a platform that enables one of the most historically inflexible physical industries — commercial real estate — to become modular and adaptable without the heavy economic and environmental costs of renovation."

You can read the full report HERE.