JLL Foundation deploys record $5.1M to climate startups in 2025

CHICAGO, March 4, 2026 – The JLL Foundation deployed its largest loan pool to date in 2025, investing just over $5 million in innovative climate startups to accelerate solutions for a sustainable future.

The 2025 JLL Foundation Annual Report, released today, details this achievement and shares more on the 15 innovative startups that joined the portfolio last year. The report also details the cumulative impact the Foundation has had since it began operations in 2022, helping startups raise nearly $165 million in follow-on funding to scale carbon emission reduction solutions.

This year marked an important validation of the Foundation's circular funding model, which relies on repaid funds to expand annual support. The Foundation received and redistributed $1 million in returned loans from 2022, enhancing its investment capacity for 2025. Foundation-backed companies this year operated across the United States, Canada, Australia and China. Since inception, the JLL Foundation has invested more than $16.8 million in 62 companies across five continents.

“Our zero-interest loans support a range of technologies and infrastructure-ready solutions to address climate change by decarbonizing the built environment, powering renewable energy transition and advancing the circular economy,” said JLL Foundation Executive Director Erin Meezan. “Access to our patient, purpose-driven capital paired with our ‘beyond the loan’ approach - providing business and marketing mentorship - further supports founder independence and scalable, sustainable company investment.”

In 2025, all Foundation-backed investments contributed to reducing greenhouse gas emissions, 93% of supported technologies focused on decarbonizing the built environment and 37% on waste reduction. The following represent a sample of the climate-impacting startups in the 2025 cohort:

• Calcarea converts CO2 from cement kilns into stable oceanic bicarbonate using seawater and limestone, enabling permanent carbon storage without pressurized pipelines or geological injection.
• Conry Tech’s BullAnt system slashes building HVAC energy use by 60-70%, avoiding 1,500 tons of CO2 emissions per building annually.
• Calectra electrifies industrial heating up to 1800°C for steel, cement and glass production, reducing manufacturing emissions by 35-76% and tackling 20% of global CO2 emissions.
   

“It’s encouraging to see early support translate into real progress over time,” said Meezan. “For example, the Foundation’s funding supported biocarbon and carbon removal company Carba in opening its first facility. Since the initial funding, Carba closed a $6M fundraising round, reinforcing the value of providing early-stage support at a critical point in a company’s development.”

As companies move beyond early development, their progress is increasingly visible both in terms of further investments and measurable climate outcomes. In addition to Carba, early support led to further investments and funding for companies across the portfolio as they move through various stages of growth, including:

• Carbonwave (2022 cohort): Secured a $3 million partnership with The World Bank Group. Carbonwave is transforming Caribbean coastal seaweed from an environmental problem into climate solutions that cut methane emissions and replace fossil fuels.
• Mati (2023 cohort): Won the $50 million XPRIZE Carbon Removal competition and now partners with over 16,000 smallholder farmers across India and Africa, creating economic opportunities while capturing carbon at scale.
• Novoloop (2024 cohort): Closed a $21 million Series B funding round. The women-founded company transforms plastic waste into virgin-quality materials, creating a true circular solution for plastic.
   

To learn more about the JLL Foundation’s impact, visit foundation.jll.com.

JLL Foundation is dedicated to impacting climate change now and in the future. A non-profit founded and backed by JLL, one of the largest global real estate companies with a demonstrated commitment to sustainability, JLL Foundation's goal is to be a catalyst for climate-impacting startups. For further information, visit foundation.jll.com.