Overview
Perth-based construction technology company NXT TEC. has created a revolutionary building technology that could help solve the global housing crisis.
The company has created a complete building system technology that turns traditional, time-consuming and resource-intensive construction on its head, enabling energy-efficient houses to be designed and created offsite and then assembled onsite in a matter of weeks.
Laying new foundations for construction
With Australia predicted to face a shortfall of 260,000 homes by 2029, NXT TEC.’s technology is designed to help address the problems of labour shortages and rising construction costs, as well as the need for greener, more resilient housing. NXT TEC. has a vision to take its solution to the world, with plans to license its technology to developers, advanced manufacturers and builders in overseas markets to not only provide essential, affordable houses, but also economy-boosting local jobs.
Accelerating from plans to progress
In the early days, a Federal Government grant helped NXT TEC. undertake comprehensive testing of their technology. But they needed further funding to do the intensive research and development (R&D) required to refine their components. NXT TEC. began using Radium Advances to accelerate their R&D program, on their own terms. They then built ongoing Radium Advances into their balance sheet to meet their R&D needs.
NXT TEC. Chairman and Managing Director Natasha Di Ciano says, “Regular Radium Advances enable the company to focus more effectively on our R&D, rather than diverting resources toward continual capital raising for R&D activities. Radium provides reliable funding which helps to limit potential equity dilution and allows us to maintain greater ownership alignment as we grow.”
With their licensing model already being used in Australia, NXT TEC. is currently preparing to enter the US market, where they have already identified a number of licensees.
For more information, visit NXT TEC.’s website.
