National Australia Bank (NAB), Media Release, 8 August 2024
Pioneering Australian benchtop and tile manufacturer Noveco Surfaces and NAB have announced a $7.75 million partnership that will facilitate the development of an innovative new facility, which will scale its local production of crystalline silica-free tiles and benchtops, made from 80 per cent recycled materials. This significant investment plays a fundamental role in Noveco’s fundraising, with plans to augment this round with additional strategic investment partners to support their growth.
Recognising the urgency to provide crystalline silica-free products to the construction industry, and acknowledging the critical role recycling materials will play in reducing Australia’s emissions, the funding will focus on establishing a new, localised manufacturing facility, which will have the capacity to divert 5 million tonnes of construction waste from landfills per year.
Beyond landfill diversion, this manufacturing expansion will give Noveco the ability to expand its output by over 30 times, scaling from 20,000 sq m of product a year to 250,000+ sq m of product per year.
Nowra-based Noveco Surfaces, in partnership with the SMart Centre at UNSW, the inventors of Green Ceramics, uses waste to product technologies to manufacture sustainable, designer green products.
Made from varying waste glass and textile that are traditionally not subject to recycling, Noveco Surfaces is a new generation of high-performance surface products, namely tiles and benchtops, as well as furniture and for various architectural and decorative applications.
Noveco Surfaces can be used for both interior and exterior projects including wall/floor tiles, slabs for benchtops, tabletops, and other products. Noveco Surfaces are a circular product that embodies not only waste management, but reuse, recycling, and responsible manufacturing.
In turn, reducing emissions and increasing efficient use of natural resources.
Noveco Surfaces CEO Ryan Fritsch:
“NAB’s investment is a testament to the potential scalability of our solution to the crystalline silica ban, along with the industry wide challenge of waste, and 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.’’
