US: HydroBlok, which produces the extruded polystyrene (XPS) foam-core HydroBlok One wallboard, has raised US$6m in an extended Series A funding round. Pier 88 Investment Partners and Andina Capital Partners led the round. MarketLine News has reported that HydroBlok will use the capital infusion to accelerate its production roll-out in the US.
HydroBlok One is lightweight, waterproof and mould-resistant that halves build times and reduces costs by 30% compared with conventional gypsum wallboard, according to the developer.
CEO and co-founder Colin House said "I've never witnessed a response quite like this. Seeing builders light up when they grasp the time and cost savings of HydroBlok One is incredibly rewarding."
