Matterport Unveils Reporting Tool to Showcase Carbon Reduction Achieved Using Digital Twins

SUNNYVALE, Calif., May 15, 2024 (GLOBE NEWSWIRE) -- Matterport, Inc. (NASDAQ:MTTR), announced the launch of avoided emissions reporting for select enterprise customers, measuring the emissions savings associated with the use of Matterport's digital twin platform. Developed with independent carbon accounting experts, the reports enable enterprise customers to understand the impact of emissions avoided by collaborating remotely instead of traveling to inspect facilities onsite.

There has been a growing expectation from corporations to operate climate-consciously. Organizations of all sizes are making ambitious commitments to reduce their carbon footprint (GHG emissions) by pledging alignment with the United Nations' Sustainable Development Goals and setting science-based targets to limit global temperature rise to below 1.5 degrees Celsius.

Matterport's 3D digital twins are sustainability in action, providing tools to help businesses to reduce Scope 3 emissions for tasks that traditionally require travel to complete, such as tours, inspections, progress monitoring, change management, and more. The more 3D digital twins are incorporated into day-to-day operations, the greater impact they can drive towards an organization's sustainability goals. For businesses with significant property portfolios and those that are globally dispersed, this life-like virtual collaboration also offers the ability to significantly reduce costs, while freeing up team members to work more productively remotely.

"Enterprises increasingly need proof-of-value that their technology investments are both driving impact to the bottom line, and their overall carbon footprint," said Qadira Harris, Senior Director of Global Responsibility at Matterport. "These new reporting capabilities quantify the sustainable impact of digital twins, empowering enterprises to streamline their property decisions with results they can stand behind."

A Fortune 100 Matterport customer said, "As a product owner, I want to provide users with sustainability benefits of my digital twin solutions. The avoided emissions report is informative with a concise format that contextualizes our aggregated impact."

Emissions avoided are calculated based on the reduction in business travel enabled by digital twins, taking into account factors such as the number of digital spaces created, geographic location, and site visits. Customer reports are tailored to their primary use cases—like property marketing, insurance, design and construction, or facilities management. These considerations are then balanced against the estimated emissions from creating and hosting each digital twin to determine the total emissions avoided.

Matterport's avoided emissions reports, currently available to select enterprise customers, allow for a comprehensive assessment of sustainability gains. These reports will be broadly released later this year, with customer feedback informing further enhancements and scalability.

To learn more about Matterport's sustainability commitments at matterport.com/esg.

About Matterport

Matterport, Inc. (NASDAQ:MTTR) is leading the digital transformation of the built world. Our groundbreaking digital twin platform turns buildings into data to make every space more valuable and accessible. Millions of buildings in more than 177 countries have been transformed into immersive Matterport digital twins to improve every part of the building lifecycle from planning, construction, and operations to documentation, appraisal and marketing. Learn more at matterport.com and browse a gallery of digital twins.

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This document contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the benefits of the business combination, the services offered by Matterport, Inc. ("Matterport") and the markets in which Matterport operates, business strategies, debt levels, industry environment, potential growth opportunities, the effects of regulations and Matterport's projected future results. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "expected," "intend," "strategy," "future," "forecast," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions (including the negative versions of such words or expressions).

Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including the expected benefits of Matterport's avoided emissions reporting and the impacts of Matterport's sustainability efforts as described in this release, and Matterport's ability to help businesses reduce Scope 3 emissions or meet sustainability goals as well as implement business plans, forecasts, and other expectations in the industry in which Matterport competes, and identify and realize additional opportunities. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in documents filed by Matterport from time to time with the U.S. Securities and Exchange Commission (the "SEC"). These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Matterport assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Matterport does not give any assurance that it will achieve its expectations.