Prescient Appoints Loren Bough and Tim Dunn to its Board of Directors

DURHAM, N.C., March 15, 2018 (GLOBE NEWSWIRE) -- Prescient, a fully integrated BIM design and building platform that dramatically reduces the time and cost of constructing multi-unit housing using a proprietary modular construction system, today announced the appointment of Loren Bough, a former partner at UBS Investment Bank in Moscow, and Tim Dunn, Vice Chair, Chief Investment and Treasury Officer at JE Dunn Construction, to its Board of Directors, effective immediately. These two appointments have expanded Prescient’s Board from seven to nine members.

Satyen Patel, Executive Chairman of Prescient, said, “I am excited to welcome Loren and Tim to Prescient’s Board of Directors. Their combined experience in real estate, finance and venture capital is unmatched. I have no doubt that their deep expertise, thoughtful guidance and proven leadership capabilities will provide invaluable contributions to Prescient as we continue to disrupt the construction industry. We are looking forward to working closely with them during this exciting stage of Prescient’s growth.”

Loren Bough brings a wide range of investing experience within real estate and venture capital to the Prescient Board. As a partner at UBS Investment Bank in Moscow, Mr. Bough oversaw equity trading and risk management. He subsequently started his own private investment vehicle to fund initial growth capital for Russian-based real estate ventures and Lenta, a leading Russian retailer now listed on the London Stock Exchange.

Loren Bough stated, “Prescient has created a platform to innovate and disrupt the global construction industry and I am proud to be working alongside the team as it continues to execute on its strategic objectives. I look forward to leveraging my financial background in venture capital and real estate to continue growing Prescient’s universe of customers and partners. I am honored to join my new colleagues on the Board, and look forward to working with the full Prescient team to help the Company reach its full potential.”

Tim Dunn serves as Vice Chair, Chief Investment and Treasury Officer for JE Dunn Construction. In his role, he is responsible for evaluating and overseeing investment, treasury and all real estate-related activities and new development initiatives for the family-owned company. Founded in 1924 and now in its fourth generation of family ownership, JE Dunn serves clients nationwide out of its 20 offices and brings in approximate annual revenues of $3.6 billion.

“The Prescient platform is proving to be a transformative and disruptive manufacturing and software technology for the built environment,” stated Tim Dunn. “The speed of the Prescient Digital Thread from concept to completion greatly compresses the typical timeline required for design and construction, and its Smart Plan Library continues to lead the industry in generative design. The company has assembled an elite management team with diverse backgrounds and industry expertise for the growth ahead. Prescient's vision coincides with ours at JE Dunn Construction to implement a more collaborative, innovative, and integrated approach to planning, design, manufacturing, field installation, and ultimately building occupancy.”

About Prescient

Digital Thread. The foundation for Prescient’s revolution is a standardized light gauge framing system that utilizes proprietary software applications which create a design and construction platform. Our thread connects projects from the initial architectural design through the finished building. The Prescient Digital thread is based on a model-centric design and planning platform that liberates project stakeholders to plan better and execute better. As a result, a project is no longer a series of isolated steps with familiar breakdowns and gaps. Instead, it becomes an orderly progression through a repeatable flow, connecting developer, designers, suppliers and contractors at every step. This seamless approach means higher productivity, higher quality, fewer last-minute conflicts on site, less waste, shorter schedules, and a better ROI.

Integrated Manufacturing. Prescient uses precision manufacturing technology including robotics, laser cutting systems, and state-of-the-art numerically controlled flexible manufacturing systems to deliver buildings with very tight tolerances, comparable to the automotive industry. Prescient’s digital thread integrates planning & design with manufacturing & installation.

Established in 2012, Prescient is aiming for nothing less than a revolution in the way buildings take shape through new levels of cost efficiency, environmental sustainability, and quality of outcome for all participants. Prescient’s platform ensures buildings perform better, cost less, and take less time to build by employing a digital thread for leading-edge integrated manufacturing.

We are Prescient. And we’re rebuilding construction from the ground up.

For more information, visit the company website, Twitter feed or Facebook page.

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Source:Prescient Co Inc.