Our first collaborative invetsment with two of our LC3 partners, Alberta EcoTrust and Greater Montreal Climate Fund, TAF completed preferred share financing in kite Mobility. This was alongside Good&Well, Enlightened Building Technologies. kite provides electric mobility (EVs, e-bikes, and scooters) to MURB residents using a proprietary app and an exclusive agreement with building owners through a Mobility as a Service (MaaS) model.
kite aligns with both our EV uptake and our net zero new construction focus areas. Their business model helps accelerate the adoption of electric mobility, which contributes to significant carbon emission reductions. Their solution can displace up to 10 parking spots per one shared EV. By reducing parking spaces developers use less concrete which reduces embodied carbon. Less concrete also reduces the total cost of construction, providing an opportunity for reduced housing costs. Shared mobility lessens the need for private vehicle ownership; reduces the amount of infrastructure dedicated to private vehicles; and makes available additional modes of transport, all contributing to increased equity. EVs also add to better air quality in parking garages, supporting better health outcomes.