Eco Material Technologies Acquired Boral Resources and Green Cement
Eco Material Technologies, a leading manufacturer of sustainable cementitious materials, announced the completion of the acquisitions of Boral Resources, Boral Limited’s North American fly ash business, and Green Cement Inc., a manufacturer of near-zero carbon cement alternatives.
Well-being of the Company Innovative Technology Positioned to Decarbonize the Materials Sector.
Eco Material is a new firm committed to decarbonizing the materials market using scalable and proven technology solutions.
Eco Material acquired significant investments from One Equity Partners, a middle-market private equity firm, Warburg Pincus LLC, a leading global growth investor, and historical Green Cement owners as part of the combination.
To enable the combined transaction, the Company priced and closed $525 million of Green Bonds in addition to these investments.
Eco Material repurposes industrial waste to provide ecologically friendly alternatives to daily products.
The Company is the only national marketer and distributor of fly ash, a byproduct of thermal power generation used as an alternative to traditional cement, and it has patented technologies for converting fly ash and other natural materials into value-added manufactured products such as its proprietary Pozzoslag.
Pozzoslag outperforms ordinary cement in terms of strength, durability, and performance while emitting 99 percent less CO2. Eco Material also offers key utility services such as operational assistance, trash disposal, and environmental cleanup.
“Eco Material is truly the best of both worlds, combining the largest network of cement alternatives in the U.S. with an innovative, proven technology that increases their environmental and economic value,” Grant Quasha, CEO of Eco Material said.
“The Company is excited to partner with OEP, Warburg Pincus, our Green Bondholders and our 1,100 new team members on its journey towards decarbonizing the materials industry, starting with the cement sector, which generates approximately 8% of global CO2 emissions.”
“We’re very proud to make this investment and form Eco Material,” Matt Hughes, Managing Director at OEP stated.
“Bringing together Green Cement and Boral creates immediate synergies, positions the Company to take advantage of new growth opportunities, and will enable it to have an even greater positive environmental impact by repurposing harmful waste into carbon-reducing products.”
“Fly ash represents one of the largest streams of industrial waste in the country, creating the unique opportunity for Eco Material to simultaneously solve a serious environmental challenge for utilities while lowering the carbon footprint of high-emitting industries like cement,” explained Roy Ben-Dor, Managing Director, Warburg Pincus.
“We look forward to leveraging our deep industry knowledge and experience in low-carbon investing to help achieve the Company’s vision,” Yoan Dipita N’Komba, Vice President, Warburg Pincus added.
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