Cox Enterprises announced a $20 million investment in Carbon Lighthouse, a company that helps commercial building owners reduce their energy expenses and environmental footprint through innovative technology.
The investment is part of Cox’s Cleantech strategy to build a line of businesses in technologies that address sustainability challenges. It also aligns with the company’s Purpose to Build a Better Future for the Next Generation.
“Our investment in Carbon Lighthouse aligns perfectly with our mission to be a force for good in the world,” said Alex Taylor, president and CEO of Cox Enterprises. “At Cox, we strive to build great businesses that also have a positive impact on both our people and our planet.”
Carbon Lighthouse uses its proprietary technology to uncover hidden energy inefficiencies and deliver profitable solutions for each unique building it analyzes. Since 2010, the company has served hundreds of buildings across the country and doubled revenue and impact every year for the last nine years.
“Cleantech is the perfect space to help diversify and grow our business,” said Evelyn Bolden, senior director of cleantech strategy and investments at Cox Enterprises. “We’ve made great progress in meeting our sustainability goals and investing in cutting-edge cleantech companies like Carbon Lighthouse will help us make an even bigger impact.”
The technology and expertise offered by Carbon Lighthouse also helps building owners contribute to global efforts to reduce carbon emissions. The U.S. Green Building Council has estimated that buildings account for 39% of carbon dioxide emissions in the United States. Since 2010, Carbon Lighthouse’s technology has enabled a reduction in carbon emissions that is equivalent to taking eight power plants offline.
“We need to do work that is highly profitable for clients and ourselves, otherwise there is no way to scale large enough and quickly enough to stop climate change,” said Brenden Millstein, CEO and co-founder of Carbon Lighthouse. “As we continue to double year-over-year for the next many decades, we are grateful for existing investors and new partners like Cox Enterprises who are committed to growing companies for long-term impact.”
Since 2007, Cox Enterprises has invested more than $350 million in sustainable businesses and technologies.