Private equity firm Envisage Equity is to provide an equity investment in and establish strategic partnerships with Noble Environmental Technologies (NET).
Envisage's investment enables Noble Environmental Technologies to significantly expand its existing production facility in Kraljevo, Serbia, and to build a research and development production facility in San Diego, California.
Additionally, in connection with the facility expansion in Serbia, the Serbian government will provide Noble Environmental with a substantial grant and will share in the costs of the expansion. The Serbian government has committed to collect and provide the agricultural waste from local farmers.
NET's ECOR technology can readily convert this waste stream into an advanced sustainable building and design material that is 100 per cent recycled and recyclable.
"This technology represents one of the highest waste-to-resource and waste-to-product technologies in the market today," says Rene Hausler, CEO of Noble Environmental Europe.
As part of a strategic partnership, Envisage and Noble Environmental Technologies will work with public and private partners to establish up to ten additional manufacturing facilities. Envisage will also provide manufacturing, engineering and design services in connection with the expansion of the Serbian facility and the continued development of Noble Environmental Technologies' manufacturing capabilities.
"Noble Environmental is well positioned to capitalise globally on the development of ECOR in a seemingly limitless number of applications," says Jeffrey Le Sage, founder and managing director of Envisage Equity. "We are excited to partner with the visionary talent of Robert Noble, the global business experience of Rene Hausler and their very capable and committed management teams in the US and Europe. We look forward to seeing Robert's vision of ECOR Everywhere become a reality as the market and consumers realise the quality, design and health benefits of ECOR over traditional wood, plastic and chemical-based materials."
