As the world becomes increasingly aware of the need for sustainability and environmental protection, proptech companies are playing a crucial role in finding innovative solutions to these pressing issues. Proptech, which stands for “property technology,” refers to the use of technology to transform the real estate industry, and many proptech companies are taking a leading role in addressing sustainability and environmental concerns.
According to a recent survey by the National Association of Realtors (NAR), 72% of real estate professionals believe that proptech will have a significant impact on the industry in the next five years, and sustainability is a key focus for many proptech companies. In fact, a study by the European Proptech Association found that over 50% of proptech startups are focused on sustainability and environmental issues, with a particular emphasis on reducing energy consumption and improving indoor air quality.
Improving Indoor Air Quality with Innovative Technology
One proptech company that is making a positive impact on indoor air quality and the environment is Clairco. Founded in 2018 by Aayush Jha, Clairco was created in response to the negative effects of indoor air pollution. Jha experienced these effects firsthand when he moved from Bhilai, Chhattisgarh to Delhi and his father suffered chest pain due to polluted air during Diwali. Initially, Jha tried to solve the problem by purchasing an air purifier, but he quickly realized that this was not a practical solution for a middle-class family, as a purifier only works in one room and can be expensive.
In response to the negative effects of indoor air pollution, Jha founded Clairco and developed a solution that converts existing HVACs into air purification systems using a proprietary blend of materials to effectively filter out pollutants such as particulate matter, volatile organic compounds (VOCs), and allergens. However, Clairco recognized that improving indoor air quality was not the only way to address environmental concerns within the real estate industry. In their most recent trials, the company has also focused on improving HVAC (heating, ventilation, and air conditioning) efficiency.
By optimizing the performance of HVAC systems, Clairco has been able to significantly reduce the costs of air conditioning in facilities by 30%. This not only yields ongoing cost savings for building owners but also ensures a rapid return on investment. According to Jha, the key to this success is the company’s pay-as-you-save model, which operates on an OpEx (Operational Expenditure) basis, enabling customers to finance the system based on the savings generated, rather than through a significant upfront investment. This provides a flexible and cost-effective solution for improving indoor air quality and energy efficiency. In addition to the financial benefits, improving HVAC efficiency also helps reduce the carbon footprint of buildings and contributes to a more sustainable real estate sector. Clairco’s efforts to improve indoor air quality and HVAC efficiency demonstrate the company’s commitment to finding innovative and comprehensive solutions to environmental concerns within the real estate industry.
But Clairco’s commitment to sustainability doesn’t stop there. The company has implemented a recycling program for its air filter, allowing customers to return their used units and have them repurposed into new products. In addition, Clairco has developed technology that can extract polluted waste from HVAC systems and use it to create roof tiles, drink coasters, and materials for new roadways. Currently, this waste is typically sent to landfills.
Clairco is also committed to reducing its own carbon footprint through the use of renewable energy. The company’s manufacturing facilities and offices are powered by 100% renewable energy, and it has set a goal of becoming carbon neutral by 2024.
In a world where indoor air pollution is a major contributor to the global burden of disease, with 3.8 million deaths per year attributed to it according to the World Health Organization, companies like Clairco are making a real difference. By improving indoor air quality and finding innovative ways to reduce their environmental impact, Clairco is setting an example for other proptech companies to follow.
REACHing New Heights in Sustainability
Recently, Clairco participated in the REACH Australia Growth Accelerator Program, a prestigious program designed to help innovative companies in the real estate industry accelerate their growth and achieve success. As a member of the REACH Australia Class of 2022, Clairco had the opportunity to receive mentorship and guidance from experienced industry leaders, as well as access to a network of investors and potential partners. The program also provided Clairco with the resources and support needed to scale up its operations and bring its innovative air purification systems to a wider market.
At REACH Australia, we are committed to staying up-to-date on the latest property technology trends and innovations whether it’s through our comprehensive research efforts or by attending industry events.
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