Maryland based International Green Structures, LLC (IGS) secured a partnership with a prominent Kenyan and US businessman, which provides him the opportunity acquire up to 12% of the global company.
IGS manufactures alternative building materials for the construction market and has just completed its first in country manufacturing facility in Thika, Kenya.
IGS purchases agricultural rice and wheat straw and produces durable, strong panels and attaches them to a pre- engineered steel framing system to produce international and nationally approved designed structures for houses, schools and healthcare facilities.
Discussions with the investor, who wishes to remain anonymous, started a few months back regarding IGSM-K and quickly evolved into a discussion of an investment in IGS, LLC the US based parent company.
The private investor stated, “With the demand for low cost housing throughout Africa and the emerging markets, I did not want to be limited to an investment in the IGS technology only in Kenya. I viewed the opportunity as a much greater one with their innovative technology and solution for the low cost housing market.”
According to the World Bank, by 2030, the number of people requiring access to low cost housing will balloon to 3 billion or approximately 40% of the world’s population and according to UN-Habitat, globally, some 827 million people live in urban slums. To provide homes for these groups alone would require a minimum of 167 million housing structures.
IGS understands the affordable housing market and has a 3 pronged global strategy to aggressively capture market share. “By becoming the product manufacturer, the technology provider and the solution provider in country allows us to scale the business significantly and reach our global vision; To Become the Global Leader of Sustainable Housing Solutions and have manufacturing facilities around the world by 2020” stated Richard China CEO of IGS.
IGS has manufacturing facilities in Texas and Kenya and is currently working with significant development partners in India and Colombia. “This investment lends further credence to our global strategy!” said China.