Top Five Stories in Construction: ABB, ProcurePro, M&S

ABB Invests US$200m to Boost Grid Equipment Production

ABB has committed US$200m to expand its manufacturing operations for medium-voltage equipment across Europe over the next three years. The investment targets production of SF₆-free switchgears, vacuum interrupters and grid automation components used in construction projects ranging from hyperscale data centres to renewable energy installations.

The funds will be distributed across facilities in six European countries. Half of the total will be directed to ABB's plant in Dalmine, northern Italy, with the remainder split between sites in Bulgaria, Finland, Germany, Norway and Poland.

According to the International Energy Agency, global electricity demand is set to rise 3.5% annually until 2030. This trajectory is placing pressure on grid infrastructure and creating bottlenecks in the supply of electrical equipment for construction projects.

"This US$200m investment will strengthen ABB's medium-voltage manufacturing and technology capabilities in Europe and support customers as electricity demand increases and the grid evolves," says Morten Wierod, ABB's Chief Executive Officer.

ProcurePro Uses AI to Transform Construction Procurement

ProcurePro, a construction procurement platform, has raised US$11m in funding to expand its AI product suite and enter new markets.

The funding round was led by QIC Ventures, one of Australia's largest sovereign wealth funds, and included existing investors Airtree, Glitch Capital and Bouygues. The company's valuation now exceeds US$80m.

The construction industry operates on margins between 1% and 4%, making it one of the least profitable sectors despite being valued at US$13tn globally. In Australia, where ProcurePro is headquartered, construction accounts for approximately 7% of GDP.

According to the Australian Bureau of Statistics, the sector contributed more than AU$175bn (S$126.5bn) in gross value added annually and employed approximately 1.3 million people in 2023-24, making it one of the nation's largest industries by output.

Vancouver Megafactory to Be World's Largest Battery Site​​​​​​​

Canadian clean energy company Moment Energy will complete construction of what it calls the world's largest battery repurposing facility within six weeks. The Vancouver megafactory is scheduled to be fully operational by the end of June.

The project comes after a US$40m Series B funding round. Total capital raised for the facility now exceeds US$100m. The construction phase has involved significant infrastructure development, including specialised handling systems for battery intake, advanced testing equipment installations and integrated production lines designed specifically for second-life battery processing.

"This is about building the infrastructure needed to support the next generation of energy demand," says Edward Chiang, Co-Founder and CEO of Moment Energy.

"We are proud to establish this facility in Canada, the country where Moment Energy was founded, to foster domestic manufacturing."

US Start-up Raises US$140m for Wave-Powered Data Centres

A US start-up has raised US$140m to build floating data centres that operate in the deep ocean. The structures are 85 metres tall and powered entirely by wave energy.

Panthalassa recently closed a financing round led by Peter Thiel, the venture capitalist behind Palantir and PayPal. The company is now valued at close to US$1bn, including the new capital.

The funding round attracted support from Salesforce CEO Marc Benioff, PayPal and Affirm Co-Founder Max Levchin and investor John Doerr, who backed Google, Amazon, Uber and Netscape.

M&S Begins £340m Automated Distribution Centre Build

A steel-signing ceremony in Northamptonshire has marked the start of construction on Marks & Spencer's automated National Distribution Centre. The 1.3m sqft facility could represent the retailer's largest supply chain infrastructure project.

According to M&S, the £340m (US$460m) investment aims to modernise food distribution operations and increase capacity for more than 200 stores. The project is being developed on a site in Daventry in partnership with Prologis UK.

The NDC is designed to achieve a BREEAM Outstanding rating. Construction plans include the integration of recycled materials, rooftop solar installation, rainwater harvesting systems, EV charging infrastructure and a dedicated vehicle maintenance unit.

Michelle Elliman from M&S Rugby store joined Kevin Bennett, CEO of Gist, Stuart Andrew, MP for Daventry and Shadow Secretary of State for Health and Social Care and James Hemstock, Vice President of Capital Deployment at Prologis UK, for the ceremony.