Sustainable Building Materials Startup X-Hemp has collected $ 3.4 million from the strategic investment partner DaP.
The Central Tasmanian Construction Tech Business, based in Cressy, 30 minutes south of Launceston, was founded in 2020 by Andi Lucas and will use the cash for critical infrastructure, F&E and other employees for the existing eight -person team.
The fiber factory of X-Hemps fiber processing forms a product called hempret, made from hemp fibers, lime and water as a concrete replacement. It is used for walls and it is not combined, terminal-safe and model resistant, with the construction costs comparable to a double-brick property.
The product in an episode of the ABC Home Building Show Grand Designs-Australia, in which a Tasmanian couple built an off-grid house made from Hanferta and is rendered with a horse mash mix.
According to Lucas, in contrast to concrete and conventional building materials, Hanfcrete stores carbon instead of producing it, which is building a healthier, environmentally friendly way.
“The completion of this capital increase reflects the enthusiasm of our investors to join us while we are changing the construction industry in Australia,” she said.
“Above all, it enables us to quickly pursue our ambitious business plan in order to satisfy the growing demand for sustainable construction and industrial fiber products in the Australian markets.”
Lucas said she hoped to reproduce the success of the European and North American Hanpcrete industry, which currently have $ 3.5 billion $ 3.5 billion worldwide. After securing chains for four years and delivering both residential and important commercial projects such as the award-winning university of Tasmania's forest building in Hobart.
The Danehill Group, founded by John and Hamish Murray, will play an important role in providing a quick persecution.
“The investment of Danehill Group in X-Hemp enables us to benefit from John and Hamish's extensive industry experience and commercial connections. Your strategic investment not only underlines the potential you see in our industry, but also the confidence in the ability of our organization and my team,” she said.
“As a proud Tasmanner, I am passionate about offering both economic and employment opportunities in my home state and beyond, and we look forward to welcoming new employees and more farmers to our passionate crew very soon.”
John Murray said it was important for her family to contribute to an environmentally friendly and gender -specific future.
“While the industrial hemp industry in Australia is a lot in its formative phases, we share Andi's vision that X-Hemp can be a market leader in a rapidly growing industry,” he said.
“A solution has to be found for the Australian chronic lack of housing and the carbon-emitting construction industry. We have absolute trust that X-Hemp will be part of the solution, and we look forward to the upcoming journey.”
More about X-Hemp here.