Envirocare Corp. was created to offer green construction solutions. After an opportunity in Nicaragua presented itself, Envirocare sought a method to produce cement that met the green specifications of federal and international agencies.
After detailed meetings and receiving a full presentation from Green World Crete about their cement product known as Geo-Green CreteTM, Envirocare Corp. entered a non-disclosure agreement to negotiate a joint venture initially valued between US$ 5 million and US$ 12 million.
A group of 12 European and four United States-based investors will provide funds for the project pursuant to a 15 year loan at 10.5% interest.
"Envirocare received and reviewed an initial proposal from Green World Crete. Now that the financing is in place, Envirocare will move forward with negotiating the terms of the agreement for a joint venture for a plant," said Andy William, Vice President of Accredited Business Consolidators Corp.
Geo-Green CreteTM, by Green World Crete, is a zero-Portland-based cement. It is formulated using abundantly available post-industrial waste and naturally occurring aluminoscilicate materials. These materials are mixed with Green World Crete's proprietary binding agent at ambient temperature to produce a near-zero carbon dioxide emission manufacturing process and product.