Eco Material Technologies, a producer of sustainable cementitious materials, has acquired Boral Resources, a North American fly ash business, and Green Cement, a manufacturer of near-zero carbon cement alternatives.
Eco Material is a newly-formed organization focused on decarbonizing the materials industry. As part of the deal, Eco received significant investments from One Equity Partners and Warburg Pincus LLC. The firm works to transform industrial waste into environmentally-friendly substitutes for everyday products.
“Eco Material is truly the best of both worlds, combining the largest network of cement alternatives in the U.S. with an innovative, proven technology that increases their environmental and economic value,” said Grant Quasha, CEO of Eco Material. “The Company is excited to partner with OEP, Warburg Pincus, our Green Bond holders and our 1,100 new team members on its journey towards decarbonizing the materials industry, starting with the cement sector, which generates approximately 8% of global CO2 emissions.”
“We’re very proud to make this investment and form Eco Material,” said Matt Hughes, managing director at OEP. “Bringing together Green Cement and Boral creates immediate synergies, positions the Company to take advantage of new growth opportunities, and will enable it to have an even greater positive environmental impact by repurposing harmful waste into carbon-reducing products.”