JLL Foundation accelerates climate mitigation by investing $4.75M in loans to 18 new climate-impacting startups

CHICAGO, Feb. 25, 2025 – JLL Foundation, a non-profit founded and backed by JLL (NYSE: JLL), published its third Annual Report, detailing its continued commitment to providing catalytic capital to pre-seed and seed-stage, climate-impacting companies. In 2024, the Foundation awarded a total of $4.75 million in new, zero-interest loans to 18 companies, helping them contribute to a more sustainable future and filling a crucial gap in early-stage funding.

Circularity is key to JLL Foundation’s model, as all funds returned from loans granted are invested into new loans, creating a virtuous cycle. A record number of loans were repaid in 2024, equating to just under $1.5 million, strengthening and expanding the potential for future loan opportunities. The Foundation’s 2024 graduate companies have attracted $49.4 million in additional funding to date, a testament to the viability of their technical and business models.

“We continue to be encouraged by the success of JLL Foundation loan recipients and the meaningful impact they are driving – whether that be decarbonizing the building sector, engaging in waste reduction, reducing water consumption or driving social impact,” said JLL Foundation Chair, Trish Maxson. “It’s a privilege to play a part in the circular process that allows us to fuel the next generation of early-stage, climate impacting startups and watch them thrive.”

The 2024 JLL Foundation loan recipients join a group of 47 companies that have received $11.7 million in 49 loans over the lifetime of the Foundation. The 2024 loan recipients are building a clean economy, creating green jobs and transforming food, packaging and agricultural systems. Each company is reducing greenhouse gas emissions, 89% are directly decarbonizing the built environment, 50% are reducing waste, 28% are driving social impact and 22% are reducing water consumption. Companies receiving loans operated in 11 countries in 2024, expanding JLL Foundation’s impact into Brazil, India, Senegal and Uganda.

The impact of the Foundation's investment varies greatly based on the needs of each company. To highlight a few of the 2024 recipients, the Foundation's loans are helping:

• Mycocycle, a biotechnology startup using fungi to transform construction waste into low-carbon raw materials for the built environment, develop its next generation MYCOntainer™.
• Novoloop, an upcycler transforming hard-to-recycle plastics into useful materials with a small carbon footprint, pursue its global expansion strategy.
• Solarbox, an electric mobility and energy company, provide a sustainable transportation and energy solution for the African market with locally assembled utility electric vehicles.
• Cyanoskin, a carbon capture technology transforming buildings into CO2-absorbing structures using an algae-based coating, develop its technology for market.
• Courageous Land, an agroforester reforesting degraded landscapes, accelerate its technological development, fieldwork, pilot programs and preparation, for scale.

With the launch of the 2024 Annual Report, JLL has also named Erin Meezan as the Executive Director of the JLL Foundation, effective January 1, 2025. In this role, Meezan will work closely with Maxson and the rest of the JLL Foundation Board to advance the Foundation’s goals, lead its strategic direction, and accelerate its impact on climate change through investments in emerging sustainable technologies.

Meezan will maintain her role as Chief Sustainability Officer (CSO) of JLL. Her expertise in sustainability strategy and experience engaging with key stakeholders uniquely position her to lead the Foundation’s vision and investment decisions.

“JLL Foundation’s efforts are a natural extension of JLL’s sustainability commitments, as we strive to shape the future of real estate for a better world,” said Meezan. “I am inspired by the creative, new approaches taken by these early-stage companies focused on climate change mitigation, and the results we will be able to achieve together.”

To learn more about the JLL Foundation's impact, read the JLL Foundation 2024 Annual Report here.

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.