The company has received a GBP19 million investment from Reuben Brothers, which specialises in private equity, real estate investment and development, and debt financing. The investment will enable Project Etopia to accelerate its growth plans, with further developments and global opportunities on the horizon.
Project Etopia, headquartered in Cambridge, was founded in 2015 and specialises in modular homes built using a panelised build system that drastically reduces time spent on site. Its homes combine energy-efficient passive design, affordability, rapid construction, renewable energy generation and storage, as well as intelligent heating and cooling systems.
Its first major development, a 47-unit residential scheme in Corby, Northamptonshire, described as one of the UK’s first modular commuter villages, is regarded as a model of how communities of the future can be developed. The development has been chosen as one of five ‘Building for 2050’ research projects funded by the UK Department for Business, Energy & Industrial Strategy.
The first home at Etopia Corby was completed in second half of calendar 2019, with the superstructures of the first three-storey townhouses finished in just 34 days.■
This story is based on an original article in UK publication, Offsite Magazine.