The MF-RETROFIT project aims to deal with the numerous requirements of facade panel retrofitting by developing a light-weight, durable, cost effective and high performance panel. Its layered structure allows for separate but also synergistic function regarding high thermal and acoustic insulation, excellent mechanical properties, up to standards flame retardancy and photocatalytic activity. Employing nanofillers such as CNTs, TiO2 and perlite nanoparticles and cellular nanofibers, will lead to reduction of facade panel weight and thickness by at least 40%. Furthermore, individual components have a definite environmental orientation, taking advantage of recycled materials and biomass foams, low energy and low toxicity processes. Finally, project viability and sustainability will be ensured by performing a Life Cycle Analysis in order to optimize individual processes. Hygrothermal behaviour and thermodynamics will also be simulated and modelled to ensure the high performance of the panel.