Nexiite is a concrete-like material that is made without Portland cement or lime, but contains water, sand and a mix of materials.
Nexii, a Canada-based construction technology startup, has just raised $ 33 million in its fourth round of funding to accelerate the production of its sustainable building materials. The company produces prefabricated, environmentally friendly building panels.
Nexiite, the material the company makes is more thermally efficient and less carbon-intensive than concrete, says Nexii. When assembled, the panels form an airtight building envelope that minimizes thermal bridges and has less impact on the environment. This combination aims improve the energy efficiency of a building, Reducing greenhouse gas emissions.
Nexii in action
Watch the video from Nexii Helping Build a Sustainable Starbucks in Canada in Six Days:
What is inside?
Nexiite is a concrete-like material made without portland cement or lime, but containing water, sand and a mix of materials, said Stephen Sidwell, the company’s CEO, in a recent interview. The material consists of sealed layers of cement and insulation material. The panels are water, fire and disaster resistant and contain no dangerous building materials. The finer details and specifications remain a company secret.
According to reports, the panels can be used for walls, floors, roofs and foundations with an energy efficiency class of R-40. The panels are light, 10 inches thick, and can be used in residential and commercial applications. The panels can be packed flat, transported to construction sites, brought into position and screwed together.
The material was invented by the brothers Ben Dombowsky and Michael Dombowsky who have a background in construction, design and research.
Manufacturing facility in the USA
Nexii announced in July that it plans to open three manufacturing facilities in North America: one in Alberta, one in Toronto, Ontario in Canada, and one in Pennsylvania. The company has factories in Moose Jaw, Saskatchewan and Squamish, British Columbia, Canada, which expanded around this time last year. The new facilities will help meet growing customer demand, the company said.
The Pennsylvania facility in Hazleton will serve northeastern markets, including New York City, Philadelphia and Washington DC. Wolfington, a real estate developer, will invest up to $ 30 million in developing a manufacturing facility that will produce environmentally friendly construction and retrofit products and create over 180 full-time, highly skilled jobs in the area.
Nexii’s Pennsylvania plant development began in September 2020 with a plan to begin operations in the first quarter of 2021. The Pennsylvania facility is expected to produce over 8 million square feet of construction panels each year.
Who is investing?
Nexii’s recent cash infusion brings in a grand total of more than $ 52 million (Canadian dollars) and a valuation of $ 484 million (Canadian dollars). Investors include Fulmer & Company, Omicron Canada and Beedie Group; These are Canadian companies in the investment, construction and real estate sectors.
Nexii announced that F. William McNabb, former chairman and CEO of investment advisor Vanguard, has joined the board of directors as vice chairman to help scale the company.
“Nexii’s approach to tackling the climate crisis and revitalizing economies with green technology is right where we need to be now,” says McNabb. “With a global pandemic, devastating hurricanes, fires and floods amid a real estate crisis with tens of thousands of buildings in dire need of upgrading, we need innovative companies like Nexii to pave the way for the future.”
In addition, Ronald Sugar, chairman of Uber Technologies and a board member at Apple, joins Nexii’s board of directors. Sugar has been a member of the company’s advisory board since June 2020.