NE firm go global with innovative building material

A North East company is set to take on new markets with their innovative building material after receiving a six-figure investment.

Limeco Ltd, from County Durham, will tackle domestic and overseas markets with their product, HyperLime, a sustainable, carbo dioxide-absorbing building material.

Limeco has received a new investment the Finance for Business North East Growth Fund to support their growth plans.

Developed by entrepreneur and Limeco managing director Dr Robin Gibson over a five-year period, HyperLime is a breathable material which both provides a greater degree of structural flexibility within a building and avoids problems with damp and condensation damage.

It has been produced as a low carbon alternative to cement and gypsum in mortars, plasters and renders for masonry construction.

The product is being manufactured and sold within the UK, but Limeco is also now working with and looking for licensees in markets right around the world.

Robin Gibson says: “Truthful sustainability is becoming more and more important within construction markets, and HyperLime was developed over several years with this requirement specifically in mind.

“With far lower environmental impact than traditional competitors, our products are cost competitive in use and can be utilised in a wide range and size of construction projects, combining ease of use for builders while allowing buildings to flex and breathe as conditions require.

“HyperLime products also comply with UK/EU building regulations and their use is permitted under key construction warranties such as those offered by the UK market leader, NHBC.

“The need for this sort of material is ubiquitous around the world, which is why we’re focussing on overseas markets and patents alongside domestic opportunities, and we’re confident product demand is going to be considerable.

“We wanted to find an investment partner that fully understood our ambitions and needs, and NEL’s business model matched our requirements extremely well – the investment application process was straightforward, and their support will enabling us to move forward at a far greater pace than we’d otherwise have had the resources to do.”

Sourced from abundant local raw materials wherever it is manufactured, HyperLime is a truly sustainable product which absorbs over 70% of the carbon dioxide used in its manufacture during its first year in situ, and therefore emitting over 75% less CO2 compared to cement and gypsum.

Limeco and HyperLime products have just successfully completed a thorough ISO9001:2008 and CE marking accreditation process with SGS UK, a world leading testing and certification company.

Significant changes in EU law mean that all construction products must be CE marked to remain on the market from 1st July 2013.

Limeco’s ambitious plans are supported through funding from regional fund management firm, NEL Fund Managers with an investment from the Finance For Business North East Growth Fund.

The fund is administered to support the company’s development plans, which include the granting of worldwide patents in key target markets, sales development processes and the full delivery of the product development pipeline.

Jane Siddle, investment executive at NEL Fund Managers, adds: “Limeco’s management team has very specific and detailed plans for the commercial exploitation of their forethought and innovation, and the resources provided by this Growth Fund investment will now allow these plans to be realised.”

Aimed at regional businesses which are at a development and growth stage, the Growth Fund forms part of the wider Finance for Business North East Fund.

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