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Kathmandu, Nepal and Seoul, South Korea, February 21, 2024 /PRNewswire/ — InnoCSR, at the forefront of sustainable construction innovation, has secured significant investment in its technology, the Good Bricks System, through a successful Series A funding round. This new investment is supported by ADB Ventures. Singaporebased Garden Impact Fund and Clarion New Life Capital. This funding will help accelerate operations and promote widespread adoption of the Good Brick System. Nepal and the rest Asia.
The Good Bricks System is an eco-friendly brick manufacturing technology that uses the innovative Good Soil Stabilizer to produce clean unfired bricks in South Asia.
This strategic investment will revolutionize the traditional brick manufacturing industry with clean, no-fire brick manufacturing technology, significantly reducing the environmental, economic and health impacts caused by traditional fired brick manufacturing. A pivotal moment in the quest for the Good Brick System.
south asia Almost a quarter of the world’s total production of fired bricks is produced here alone.be one of Nepali Brick production, a major industry, consumes approximately 1 million tons of coal annually, accounts for 37% of the country’s total CO2 emissions, and has a significant impact on the environmental health of the Himalayas.
As InnoCSR’s flagship technology, Good Bricks System provides a comprehensive solution for developing high quality and durable unfired bricks without harming the environment. By working directly with existing and future brick kiln owners, Good Bricks System not only maintains cost competitiveness, but also significantly increases productivity. This approach tackles industry challenges head-on and demonstrates the multifaceted impact of the Good Brick system, something new investors appreciate.
“The Good Brick System is poised to be disruptive. south asian “A carbon-intensive brick manufacturing industry that relies heavily on decades-old processes and technology.” Arsalan Farooqi From ADB Ventures.
“ADB’s extensive infrastructure operations in the region create powerful synergies that can be leveraged to support the large-scale deployment of impactful technology solutions like the Good Brick System.”
This new investment from Garden Impact Fund, Clarion Newlife Capital, and ADB Ventures will help expand the reach of the Good Bricks System nationwide. Nepal and other parts Asiafacilitating the transition to greener practices within the construction sector.
InnoCSR’s Chief Executive Officer said: “We are delighted to receive this investment. It not only reaffirms the positive impact of the Good Brick System, but also transforms a brick manufacturing industry that has been lacking in innovation. This brings us even closer to our vision.” Sam Yoon Seok Lee.
We’re already making progress NepalThe Good Bricks System is scheduled to launch on . India and Pakistan In early 2024.
About InnoCSR
Since its founding in 2008, InnoCSR has worked with multinational corporations, governments, and global NGOs around the world. Asia, finding and transferring technologies that create positive social, environmental and economic impact. InnoCSR has crystallized that effort into a proprietary technology called his Good Bricks System. This provides the construction industry with an innovative way to increase productivity while reducing harmful impacts on the environment. Good Brick Systems uses specialized soil stabilizer material technology to produce strong, world-class quality bricks. The technology does not require combustion, reducing production time by up to 80% while reducing greenhouse gas emissions.
The cost, labor-intensive, and environmental benefits that InnoCSR offers are increasingly being recognized by international organizations and investors. InnoCSR’s Good Bricks system is already being used in the following areas: Nepal We aim to expand to Pakistan and India In early 2024.
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