QuickBlock has received more than £250,000 in seed funding that will also help create a number of skilled jobs.
The investment from Equity Gap and Scottish Enterprise comes as the venture sets its sights on global market opportunities within agriculture, humanitarian aid and disaster relief.
Similar in concept to children’s building blocks, the flat-pack building material is said to require no tools, additional materials or construction experience. Its compact design also makes it easy to transport to remote or hard-to-reach locations.
Chairman Tom Thomson said: ”Our investors’ commitment validates and supports our ambition to make QuickBlock one of Scotland’s major business successes. We are now recruiting for a further three new members of staff and ramping up output as the product gains appeal in diverse markets.”
The backing has also helped the business secure the long-term appointment of its interim chief executive, Andrew Vincent.
He said: “We have an innovative, sustainable, market ready product and, despite a challenging year with Covid-19, we’ve gained traction across a number of sectors.
“This investment will allow us to respond to this growing demand, build our sales team and scale-up at pace over the next year. Longer term, we have a bold and ambitious vision to enable people all over the world to build a greener future with QuickBlock.”
The product was conceived by architect Hugh Fisher whose vision was to build refugee housing in the Middle East by recycling the plastic that litters parts of the region’s landscape.
The company – a finalist at this year’s Scottish Edge contest – has recently worked with students from Oxford University as part of an industry skills programme to develop the block’s deployment within the humanitarian market.
Caitlyn Hughes, relationship manager at Equity Gap, said: “This innovative new building technology will help meet the challenges faced by a variety of sectors where speed, reusability and sustainability are priorities.
“Products like QuickBlock can enable a greener future and put Scotland at the forefront of the technologies that will support the country’s drive to net zero.”