Estimates suggest we need over three million additional homes by 2030 to restore some semblance of housing affordability in Canada.
However, current building rates are far behind pace, adding barely 200,000 new units nationwide per year.
Modular construction technologies may offer a possible solution.
The current modular market in Canada is valued at over $2 billion, a figure rising by 7% annually.
A Canadian startup is looking to capture some of this growing market—and has raised capital to do so.
Ontario’s CABN announced that it has secured a round of investment to support its mission of building prefabricated, energy-efficient homes to battle Canada’s housing crisis.
“We’re honoured and excited to have the support of Canadian investors who share our commitment to rapid, scalable, net-zero building solutions,” stated chief executive officer Jackson Wyatt, who founded the company in 2021.
The capital will help CABN advance production and operational capacity to deliver net-zero building solutions in residential and commercial markets, according to Wyatt.
“This alignment reflects the promise of prefab innovation and its potential to meet urgent housing needs while driving meaningful progress toward climate resilience,” the CEO stated.
A 90,000-square-foot manufacturing facility in Brockville will adopt robotics and automated systems designed to improve the speed and precision of the production of prefabricated homes.
For example, integration of 3D LiDAR scanning and mapping technologies will enable virtual simulations that optimize robotic functions and inventory management before implementation.
Once fully operational, the facility will be capable of producing 552,000 square feet worth of livable housing per year.
CABN claims its homes can be built in days and finished in weeks—at just 20% the energy cost of building traditional housing.
And as part of CABN’s commitment to affordable housing, the nonprofit CABN Foundation partners with municipalities and developers to bring sustainable housing to remote communities.
The round was led by Vancouver’s Active Impact Investments, with participation from Greensoil PropTech Ventures, Groundbreak Ventures, Toronto’s Alder Capital Sustainable Ventures, and Liberty North Capital.
“Aligning with our mission to contribute to solving the most urgent environmental issues, we’re thrilled to support the rapid scaling of CABN’s net-zero builds,” remarked Mike Winterfield, Managing Partner at Active Impact Investments.
“CABN’s optimized production of sustainable homes pushes the needle forward on both climate and housing targets, enhancing Canada’s economic resilience with durable jobs and local innovation,” he commented.