Australian benchtop and tile manufacturer Noveco Surfaces has secured a $7.75 million partnership with the National Australia Bank (NAB) to expand its production of crystalline silica-free construction materials.
This investment will facilitate the development of an innovative new facility, significantly scaling Noveco’s local production capabilities.
Noveco Surfaces, in collaboration with the SMaRT Centre at UNSW, utilises waste-to-product technologies to create sustainable, designer green products.
The company’s products are made from 80 per cent recycled materials, primarily consisting of waste glass and textiles that are typically not recycled.
The product range includes:
- Tiles and benchtops
- Furniture
- Architectural and decorative applications
These versatile materials can be used for both interior and exterior projects, including wall and floor tiles, slabs for benchtops, and tabletops.
The new manufacturing facility will have a significant environmental impact:
- Capacity to divert five million tonnes of construction waste from landfills annually
- Increase production output from 20,000 sqm to over 250,000 sqm of product per year
- Reduce emissions and increase the efficient use of natural resources
This partnership addresses two critical challenges facing the construction industry:
- The need for crystalline silica-free products
- The urgency to reduce Australia’s emissions through recycling materials
Noveco Surfaces plans to augment this funding round with additional strategic investment partners to support their growth.
The company views NAB’s investment as a testament to the scalability of their solution to the crystalline silica ban and the industry-wide challenge of waste management.
Ryan Fritsch, CEO of Noveco Surfaces, stated: “NAB’s investment will enable us to scale our operations significantly. With this new site, we will enhance our capacity to transform waste into high-quality, safe and environmentally-friendly building materials.”
This partnership between Noveco Surfaces and NAB represents a significant step forward in sustainable construction practices, addressing both safety concerns and environmental challenges in the Australian building industry.