Photo by Kite Mobility Inc.
TORONTO – The Atmospheric Fund (TAF) today announced its second investment in Kite Mobility, a Canadian company growing their “mobility as an amenity” service.
TAF’s convertible loan is part of a larger round of investors in Kite, including global company Mitsui & Co., Ltd. (Mitsui) and Enlightened Building Technologies Inc. (EBT). EBT has committed to matching TAF’s $500,000 financing on a dollar-for-dollar basis.
The Mitsui investment combines their global expertise in mobility and sustainability with Kite’s innovative, community-based platform, enabling faster growth across Canada and laying the foundation for international expansion.
Kite integrates electric mobility hubs in multi-family buildings and mixed-use developments to provide residents and visitors with convenient, affordable access to electric vehicles, e-bikes and scooters, helping reduce reliance on private cars and decrease the demand for parking infrastructure.
Underground parking in multi-family residential buildings is one of the most carbon-intensive components of new construction and adds an average of $100,000 in capital costs per parking stall. With the removal of parking minimums at the municipal level, Kite’s mobility-sharing solution fills the gap, displacing up to 10 parking spots per shared electric vehicle, allowing building developers to save millions in capital costs, reduce the time to build and improve housing affordability for residents.
This round of investment will allow Kite to drive measurable ESG outcomes, including reduced greenhouse gas emissions, fewer private vehicles on the road, and decreased demand for parking infrastructure within cities.
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“TAF is supporting this innovative and proven business model for its significant potential to scale and tackle transportation emissions in cities across Canada. We’re pleased that it supports municipalities’ goal of reduced parking minimums, encouraging cleaner transportation choices, and ultimately lowering transportation and housing costs.”
– Kristian Knibutat, VP Impact Investing, The Atmospheric Fund
“We are proud to continue supporting Kite as it scales its innovative, community-based mobility model and to welcome a world-class investor like Mitsui to the partnership. Kite’s platform delivers a compelling value proposition—helping developers cut costs, meet sustainability goals, and provide residents with high value, cutting edge amenities. Together with TAF and our global partners, we’re accelerating the transition toward smarter, low-carbon communities across Canada.”
— Jack Bittan, CEO, Enlightened Building Technologies Inc.
“We are proud our first to market mobility as an amenity platform continues to experience strong demand. In partnership with market leading real estate developers and now with Mitsui’s global expertise, reach, and long-term commitment to sustainable mobility, we are excited to accelerate our vision of making shared electric mobility a standard feature of modern living in buildings, cities and communities globally.”
— Scott Macwilliam, Founder, Kite Mobility
“Kite has developed a highly innovative model that aligns with Mitsui’s global mobility strategy and our focus on sustainability. Through this investment, we are supporting Kite that not only brings environmental benefits but also reimagines how communities access transportation.”
— Mr. Kojima, General Manager of Mitsui HQ
ABOUT
The Atmospheric Fund – The Atmospheric Fund (TAF) is a regional climate agency that invests in low-carbon solutions for the Greater Toronto and Hamilton Area and helps scale them up for broad implementation. taf.ca
Kite Mobility – Kite Mobility is a Canadian technology company delivering shared electric vehicles and mobility hubs integrated with residential and mixed-use developments. By partnering with leading real estate developers, Kite reduces reliance on private car ownership, lowers greenhouse gas emissions, and provides communities with cleaner, more accessible ways to get around.. kitemobility.io
About Mitsui & Co., Ltd. – Mitsui & Co., Ltd. is a global trading and investment company with a diversified business portfolio spanning more than 60 countries. Through its Mobility Business Unit, Mitsui is actively investing in innovative technologies and business models that advance sustainable transportation and create long-term value. www.mitsui.com
About Enlightened Building Technologies Inc. – Enlightened Building Technologies delivers smart, sustainable building solutions that integrate with today’s energy systems. Through its Sustainability-as-a-Service model, Enlightened helps property owners cut costs, improve energy efficiency, and meet sustainability goals. With expertise in clean tech, smart systems, and data analytics, Enlightened is shaping the future of green buildings. www.enlightenedbuilding.com/
MEDIA CONTACT
Julie Leach, Senior Manager, Campaigns and Communications, TAF
Jleach@taf.ca | +1 416-393-6382
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