Financial backing of £860K allows Propflo to advance their 'Retrofit-as-a-Service' initiative, geared towards the mortgage sector.
In a significant stride towards sustainable housing, Propflo, an AI property platform, has been awarded over £860,000 by Innovate UK for the development of a data-driven portfolio approach to net zero. This project aligns with the UK's national priority to address the £200bn retrofit challenge and improve various aspects of the housing market.
The project, which runs until March 2025, is part of a £5m two-phase programme on Net Zero Heat. It aims to make Propflo's retrofit solution the most advanced for lenders, brokers, and agents. Luke Loveridge, Founder and CEO of Propflo, stated that this collaboration will elevate Propflo's retrofit solution, making it the most sophisticated option in the market.
The project includes a diverse range of partners, including mortgage lenders, intermediaries, estate agents, improvement suppliers, and sustainability social enterprises. Habito, a mortgage intermediary, was the first to launch a retrofit tool (GreenVal) and will now be the primary partner testing the end-to-end solution. Glow Green and Aico Homelink are among the improvement suppliers involved, while Action Net Zero will ensure no vulnerable households are overlooked.
Propcert, a leader in EPC assessments, is partnering with Propflo to provide Enhanced EPCs and facilitate smart home technology installation for verification and monitoring. The primary focus of the project is to develop Propflo's portfolio AI insights and link them to its retrofit one-stop-shop (GreenVal) and its ongoing engagement platform (HomeHub).
A key part of the project will be testing a model for mortgage intermediaries, forecast to be responsible for 90% of mortgage distribution in 2024. The project includes a learning and scaling up phase for these stakeholders, ensuring they have everything they need to support their customers in retrofitting their properties in a streamlined and joined-up process.
The UK's £200bn retrofit challenge is a national priority, aiming to meet carbon targets, improve energy security, health outcomes, and affordability in the housing market. By addressing this challenge, Propflo's project aims to contribute to a more sustainable and affordable housing market for all.
Luke Loveridge established Propflo in the year 2020. With this funding, Propflo is poised to lead the way in advanced data-driven solutions for the property sector, making a significant contribution to the UK's net zero goals.
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