Worcester, MA – MassDevelopment has provided a $3.8 million loan from the Emerging Technology Fund to Embue, Inc. to help the company hire 38 new full-time employees in an effort to meet an expected growth in demand for its smart building platform designed for apartment building portfolios.
Based in Worcester’s WorcLab incubator and coworking space, Embue’s platform provides whole building intelligence, automation, and control for new or existing multifamily housing developments, designed to improve energy efficiency and reduce carbon emissions by 25% or more, and make the building more comfortable for residents, improve staff efficiency, and increase bottom line results.
“The Healey-Driscoll Administration is building a clean energy and climate-tech corridor in Massachusetts that will advance our state’s ambitious climate goals and drive economic competitiveness, and the Emerging Technology Fund is an important financing tool to support this effort,” said Secretary of Economic Development Yvonne Hao, who serves as chair of MassDevelopment’s board of directors. “We are excited this MassDevelopment funding will help Embue grow by creating new green-tech jobs and supporting the expansion of the company’s operations in our state.”
“Embue’s innovative platform is a ‘two-for,’ improving building conditions for residents and saving money by enabling some of the state’s largest affordable, senior, and market-rate housing owners and operators to embrace clean energy and reduce reliance on fossil fuels,” said MassDevelopment president and CEO, Dan Rivera. “Growing demand for this smart technology will create high-quality jobs in Massachusetts, and that’s why MassDevelopment is proud to help the company ramp up operations with loan financing from our Emerging Technology Fund.”
Embue’s smart building platform is installed in more than 70 buildings in the Northeast representing more than 6,000 apartment units. The company’s major Massachusetts-based clients include the WinnCompanies, The Schochet Companies, and 2Life Communities.