October 29, 2014 – Envisage Equity Provides Growth Equity and Enters into a Strategic Partnership Agreement with Noble Environmental Technologies
Los Angeles, CA, October 29, 2014 – Envisage Equity, an operationally focused private equity firm, announced today that it has entered into agreements to provide an equity investment and establish strategic partnerships with Noble Environmental Technologies (NET).
Envisage’s investment enables Noble Environmental Technologies to significantly expand its existing production facility in Kraljevo, Serbia, and to build a Research & Development production facility in San Diego, California. Additionally, in connection with the facility expansion in Serbia, the Serbian government will provide Noble Environmental with a substantial grant and will share in the costs of the expansion. And, in a strong show of support, the Serbian government has committed to collect and provide the agricultural waste from local farmers. NET’s ECOR® technology can readily convert this waste stream into an advanced sustainable building and design material that is 100% recycled and recyclable. “This technology represents one of the highest waste-to-resource and waste-to-product technologies in the market today,” said Rene Häusler, CEO of Noble Environmental Europe.
As part of a strategic partnership, Envisage and Noble Environmental Technologies will work with public and private partners to establish up to ten additional manufacturing facilities. Envisage will also provide manufacturing, engineering and design services in connection with the expansion of the Serbian facility and the continued development of Noble Environmental Technologies’manufacturing capabilities.
“Noble Environmental is well positioned to capitalize globally on the development of ECOR® in a seemingly limitless number of applications,” said Jeffrey Le Sage, Founder and Managing Director of Envisage Equity. “We are excited to partner with the visionary talent of Robert Noble, the global business experience of Rene Häusler and their very capable and committed management teams in the United States and Europe. We look forward to seeing Robert’s vision of ECOR® everywhere become a reality as the market and consumers realize the quality, design and health benefits of ECOR® over traditional wood, plastic and chemical-based materials.”
“We are thrilled to have found a partner who not only understands the unique opportunity this conversion technology provides as well as the experience and know-how to rapidly accelerate the broad global adoption of ECOR,” said Robert Noble, Founder and CEO of Noble.
Envisage Advisors, LLC served as strategic advisor, and Gibson, Dunn & Crutcher LLP served as legal counsel, to Envisage Equity.