Jane Larson
The Arizona Republic
Jul. 25, 2007 09:37 AM
All Las Vegas architect Andrew Dennis wanted was a strong, lightweight material to build a home in the Caribbean.
After years of experimenting, what he got is GigaCrete Inc., a company whose “greener” version of concrete is poised to grab its share of the growing market for environmentally friendly building materials.
GigaCrete last month landed $3.5 million in venture capital from Craton Equity Partners, a Los Angeles-based investment firm that specializes in clean-technology growth companies. Craton will add another $1.5 million if GigaCrete meets its goals.
As part of the deal, chief executive officer Erik Hanson is moving GigaCrete’s headquarters from Las Vegas to his home base in the Northeast Valley. The funding also will move GigaCrete out of the research-and-development stage and into manufacturing, Hanson said.
“I just really believe in what we’re doing in terms of creating a new line of products in the market,” Hanson said. “I think the timing of the markets from a regulatory perspective, the consumer perspective, builders, architects and even developers are really pushing and moving in this direction.”