CEMATRIX purchases stake in Glavel

CALGARY — CEMATRIX Corporation a North American manufacturer and supplier of cellular concrete products announces that it has entered into a Letter Agreement with Glavel Inc. that will provide for up to a USD $4 million phased strategic investment in Glavel.

Glavel, a foam glass aggregate producer based in Burlington, Vermont, is a company that has electrified its production process. The result is a low embodied carbon building material ideal for the infrastructure, residential and commercial construction markets. Glavel’s product is derived entirely from recycled glass which would otherwise be sent to landfill. These products have a wide range of applications and complement the cellular concrete market due to their lightweight and insulating properties. Current applications include but are not limited to infrastructure applications such as the replacement of EPS Blocks (large blocks of rigid insulation) in overpass, bridge and retaining wall backfill projects and as an insulating sub-base for use over weak or unstable soils and for building applications including lightweight roof systems, under-slab insulation systems and building components.

“Our Investment in Glavel is a strategic and complimentary investment for a number of reasons. The Glavel foamed glass products are mainly used in lightweight fill and/or insulating applications as a replacement for other lightweight aggregates, rigid insulations, and EPS block in infrastructure applications and in many building systems including roofs, walls and flooring systems in building component applications. Foamed glass is used where our cellular concrete is not applicable or doesn’t fit the required solution and thus, this investment provides CEMATRIX with a growing stake in a Company that manufactures and sells environmentally friendly construction material products, mainly into new markets, but many of which are complimentary as well. Secondly, this Investment will enable CEMATRIX to service an ever-growing green construction market requirement throughout North America,” stated Jeff Kendrick, CEO at CEMATRIX. “Much of the new replacement infrastructure spending in the U.S. and in Canada will focus on environmentally friendly options and as such, CEMATRIX will be well positioned to capitalize on those opportunities. There are also a tremendous number of synergies between the two companies. Our CEMATRIX sales team can and is already marketing Glavel products into the infrastructure market that it currently services and our technical team will be supporting the infrastructure portion of their markets as well. In addition, like CEMATRIX’s current products, the opportunity to grow Glavel’s sale of its foamed glass into numerous markets throughout North America, some of which are complimentary to CEMATRIX applications, is significant.”