Lime Technology is using the investment to develop sales and marketing resources as well as fund further product development and certification of its systems in order to continue its strong growth. The investment will also help to create more jobs at its two main facilities in Oxford and Suffolk.
As firm advocates of bringing lime based building products into the 21st century, Lime Technology has pioneered the application of dry mortar technology to the long established use of lime. For the first time, this has allowed hydraulic lime mortars, renders and plasters to be considered as viable materials in both the new build and refurbishment markets.
Already close to doubling last year’s revenue, sales of the firm’s sustainable building materials have sky-rocketed, with products such as Tradical® Hemcrete® developing into mainstream building solutions. A revolutionary building material, Tradical® Hemcrete® locks away CO2 within wall construction to create better-than-zero carbon buildings that require minimal heating or cooling. This is a cost effective solution to meet the requirements of code level 4 and above of the Code for Sustainable Homes.
The growth follows on from the acquisition of Hemp Technology in 2009 to make the group the UK’s foremost renewable materials supplier for the construction industry and enable the company to fulfil its business plan of bio-composite building materials supply from seed to finished building.
Ian Pritchett, the founder has stood down as Executive Chairman and will focus on the technical development of the business. Prof Gerry Musgrave has become Non Executive Chairman to help the management team achieve cost effective solutions for the building environment.
“This investment is a great opportunity to transform the Lime Technology Group into a mainstream building materials business,” explains Mike Eberlin, Lime Technology’s Managing Director. “Investment will help the company to continue in its quest to supply sustainable, low carbon building materials for use in high code level housing and BREEAM excellent buildings at prices competitive with mainstream building materials.”
“Gerry brings a great deal of experience of nurturing high tech companies and is already active in restructuring our operations.”