Factory_OS Receives Strategic Investments from Autodesk, Citi to Help Address Affordable Housing Crisis in Bay Area and Beyond

MARE ISLAND, Calif., July 10, 2019 /PRNewswire/ — Factory_OS, a groundbreaking company transforming home construction through affordable and sustainable multifamily housing solutions, has secured strategic investments from Autodesk, Inc. (NASDAQ: ADSK) and Citi (NYSE: C). This funding aims to tackle the escalating affordable housing crisis in the San Francisco Bay Area and beyond. The investment marks a significant milestone for Factory_OS, which is pioneering the use of modular construction to build homes faster, more efficiently, and at lower costs. With the support of Autodesk and Citi, the company is set to expand its operations and explore new ways to meet urgent housing needs, especially in the wake of natural disasters. Autodesk is deepening its partnership with Factory_OS by supporting the development of the Factory Floor Learning Center. This facility will serve as a hub for education and research into industrialized construction methods, as well as advocate for policy changes that can maximize the benefits of this innovative approach. The Terner Center for Housing Innovation will lead the initiative, while the collaboration will also help establish a Rapid Response Factory. This new space will focus on developing advanced manufacturing techniques and providing quick-turnaround housing solutions during emergencies. Citi’s involvement comes through its Spread Products Investment Technologies (SPRINT) initiative under the ICG division, which was launched in 2018 to engage with tech partners and invest in innovative solutions. Additionally, Citi Community Capital, the bank’s unit focused on financing affordable housing and community projects, is backing the initiative. In 2018 alone, Citi provided over $6 billion in lending for affordable rental housing, solidifying its position as the nation's top lender in this sector for nine consecutive years. Rick Holliday, CEO of Factory_OS, expressed his gratitude: “Autodesk and Citi are essential partners in our growth. We’re proud to work with companies that share our vision of transforming construction and addressing the housing crisis across the country.” Andrew Anagnost, CEO of Autodesk, added: “Factory_OS is leading the way in modular homebuilding, making affordable housing in cities a reality. We’re honored to support their mission, and we believe our collaboration will drive meaningful change nationwide.” Matt Zhang, Head of Spread Products Investment Technologies at Citi, said: “Innovation in affordable housing is crucial to solving one of the nation’s most pressing issues. We’re excited to partner with Factory_OS and help bring about real transformation in how we provide safe, high-quality housing.” For more details on today’s announcement, visit ADSK NEWS. **About Factory OS** Factory OS is a volumetric modular construction startup based in the San Francisco Bay Area. It aims to replace traditional construction methods for multi-unit residential properties, offering a sustainable and disruptive alternative to the industry. Founded by experienced professionals, the company is committed to innovation and growth. Learn more at factoryos.com. **About Autodesk, Inc.** Autodesk develops software that empowers people to create anything. From high-performance cars to skyscrapers and films, millions of users rely on Autodesk’s tools to bring their ideas to life. Discover more at autodesk.com or follow @autodesk. SOURCE: Autodesk, Inc.; Factory_OS

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