Integrity Block Receives $2.7 Million in Funding to Manufacture Green Building Materials

Integrity Block Receives $2.7 Million in Funding to Manufacture Green Building
Materials
Company introduces the first green replacement for concrete block

LOS ALTOS, Calif., June 30 /PRNewswire/ -- Integrity Block, a manufacturer
of sustainable building materials, today announced that it has closed $2.7
million in equity & debt financing, led by Navitas Capital, including a
secured lease line from Western Technology Investment (WTI) for capital
expenditures related to manufacturing operations.
Integrity Block has emerged from 2 years of research & development to
deliver the first green replacement for concrete block (concrete masonry
unit/CMU), designed for structural, architectural, and landscape applications.
In addition, use of Integrity Block products can generate valuable LEED
credits.
Although transportation is commonly thought to be the primary contributor
to climate change, it is eclipsed by residential and commercial buildings,
which are responsible for 38% of all CO2 emissions. Manufacturing, including
building materials, generates an additional 28% (source EIA).
Integrity Block impacts manufacturing, residential and commercial building
emissions by focusing on the complete life cycle assessment of building
material products. From substantial reduction of embodied energy required to
manufacture, to inclusion of pre-consumer recycled material, Integrity Block
will produce green product alternatives that meet the same exacting testing
and performance standards as existing CMU. The products are made from an
engineered soil composite using a proprietary manufacturing process. Designed
to the same standard dimensions and common form factors as existing CMU,
developers, builders, architects, masons and engineers benefit, as there are
no changes required to the building process.
"Our philosophy is to invest in emerging companies delivering innovative
solutions for the built environment that meet performance standards, price
competitively, and deliver significant energy savings and environmental
benefits," said Travis Putnam, Managing Partner at Navitas Capital. "Integrity
Block is a great fit within our investment strategy."
"The adoption of green building materials will have an immediate and
dramatic effect on emissions related to climate change," added Trevor Stout,
CEO of Integrity Block. "Replacing existing CMU block with Integrity Block in
the U.S. alone would remove 4 billion pounds of CO2 from the atmosphere in a
single year."
Integrity Block anticipates products will begin shipping in the fourth
quarter of 2008.
About Navitas Capital
Navitas Capital provides strategic venture capital for early-stage
companies providing green technology solutions for the built environment. By
focusing on green building technology solutions with the broader cleantech
market, Navitas is uniquely positioned to help entrepreneurs build leading
companies in this large sector.
About WTI
Western Technology Investment (WTI) is a leading provider of debt
financing to start-up and emerging growth companies. WTI's strong customer
orientation is made possible by the extensive background of our officers and
directors in banking, finance, as well as start-up and large company
management. Their broad experience is a valuable resource that is frequently
utilized by customers. For more information, visit http://www.westerntech.com
About Integrity Block
Integrity Block, a manufacturer of sustainable building materials,
provides the first green replacement for concrete block. The company's mission
and values are aligned to deliver products that are environmentally friendly
yet meet the same performance standards as existing materials. Integrity Block
products offer a seamless concrete block replacement for structural,
architectural, and landscape applications that can generate valuable LEED
credits. For more information, visit the web site at
http://www.integrityblock.com.
Contact: Shawn Cunningham, shawn@integrityblock.com, 415-637-0800
SOURCE Integrity Block

Shawn Cunningham, +1-415-637-0800, shawn@integrityblock.com