Start-up loan for Affresol
31/03/10
Modular housing company, Affresol, is ready to begin production
with help from Finance Wales' investment.
The Swansea-based company has developed an
innovative method of making and selling low-cost, sustainable
housing.
High value concept
Affresol has developed a method for recycling waste
plastic into a building material, Thermo Poly Rock (TPR). TPR
can be moulded into designs for structures, including modular
houses and garages.
Affresol's process has a number of advantages over traditional
building methods. These advantages, together with changes to
housing and recycling targets, contributed to Affresol's high
growth potential.
- 25% cheaper to manufacture than timber-frame building
methods
- Houses can be manufactured in around 4 days
- TPR is stronger than cement
- TPR reduces landfill and carbon emissions
The right investment package
Affresol's directors had made a significant investment in
the company and had already secured £360,000 private sector
investment. They needed further investment to produce a prototype
and begin taking orders.
Our initial £50,000 investment enabled Affresol to leverage a
further £137,000 funding from the Welsh Assembly Government.
The investment also helped Affresol attract interest to build
50,000 homes in the UK and develop franchise interest in 30
countries.
“We’re pleased Finance Wales recognised our company’s potential.
The investment has enabled us to take orders and look towards
overseas expansion. We hope to work with Finance Wales again.” Ian
McPherson, director, Affresol.
Do you have an innovative new product?
Contact us to find out
how investment could help your business achieve its growth
potential.