IBI Group Inc - CEO, Scott Stewart.
CEO, Scott Stewart.
Source: PlaceTech.
  • Design and technology firm, IBI Group (TSX:IBG) will lead the consultant team on a design and build contract awarded to Pomerleau Inc
  • The contract from The University of Toronto Scarborough Campus is for a 750-bed student residence
  • The residence will be a Passive House project, using energy efficiency and construction techniques in place of conventional thermal systems
  • The company has immediately started consulting work, and expects the project to be completed in December 2022
  • IBI Group (IBG) is up 0.42 per cent and is currently trading at C$4.81 per share

Design and technology firm, IBI Group (TSX:IBG) will lead the consultant team on a design and build contract awarded to Pomerleau Inc.

The contract was awarded on behalf of The University of Toronto Scarborough Campus (UTSC). It is for the design and construction of a 750-bed, Passive House student residence.

Passive House projects use advanced energy efficiency and construction techniques in place of conventional thermal systems. They attempt to reduce water consumption, and emphasise use of natural light over artificial light sources.

In summer, they use passive cooling techniques like strategic shading to cool down buildings, in place of air conditioning. In winter, the buildings efficiently use the sun and heat recovery in place of normal heating technology.

This UTSC contract will be one of the largest Passive House projects in North America. IBI Group’s CEO, Scott Stewart, commented on the company’s involvement in the eco-friendly contract.

“With more than 60 offices across the globe, IBI’s commitment to the environment, which includes our corporate footprint as well as the work we undertake with our clients, has wide-reaching impacts.

“This project adds to our growing portfolio of Passive House projects in North America. We are proud to be a leader in implementing this gold standard for energy-efficient design,” he said.

The residence will provide student housing to UTSC’s inventory, accommodating short-term and long-term campus growth projections. It will include student life spaces and a large dining hall.

IBI Group has immediately begun consulting work on the project. The company expects that the project will reach completion in December of 2022.

IBI Group (IBG) is up 0.42 per cent and is trading at C$4.81 per share, as of 9:49am EDT.

More From The Market Online
PyroGenesis - PyroGenesis' STP torch for refrigerant destruction, hydrocracking and heating.

PyroGenesis to help global mining leader lower emissions

PyroGenesis Canada (TSX:PYR) signs a contract with a global mining supplier to apply its electric plasma torches towards emissions reduction.

Hut 8 right-sizes mining capacity before Bitcoin halving

Hut 8, one of North America's largest Bitcoin miners, energizes one-third of its 63 MW Salt Creek mining site in Culberson County, Texas.

Trump’s Truth Social is releasing a streaming platform

Trump Media & Technology Group (NASDAQ:DJT) will launch a live-TV streaming platform tied to its social media network, Truth Social.