Backing from the Reuben Brothers follows an earlier injection of capital from hedge fund manager Lord Stanley Fink, who is chairman of Project Etopia.
Project Etopia has a panel factory in Ellesmere Port and is building a development of 31 houses and 16 apartments on a site in Corby, Northamptonshire, using modular prefabricated components.
A spokesperson for Reuben Brothers said: “Project Etopia has set out its stall in building elegantly-designed, high quality eco homes and is already demonstrating how its vision aims to make a big impact to address the UK’s housing crisis.
“The company has enormous ambition to revolutionise the housing industry, and we are pleased to support an important pioneer in the sector. The day when offsite construction arrives as a mainstream method within house-building is drawing ever closer and our investment will provide Etopia the resource needed to deliver on its goals as soon as possible.”
Project Etopia chief executive Joseph Daniels, company founder but now a minority shareholder, said: “Reuben Brothers’ significant investment in Project Etopia is a huge endorsement by an eminent investor of what we are doing and marks an enormous milestone in the company’s history.
Got a story? Email news@theconstructionindex.co.uk
