Toronto's Innovative Composites International was born in 2007 when some former Magna engineers struck out to find applications for a new type of thermoplastic material they had developed. The composite compound they developed, suitable for building things (shipping containers, houses) is lightweight, fireproof, hurricane-proof. As company spokesperson Clive Hobson says, the composite can be used to build "virtually anything" and is "virtually indestructible."
Now up to 22 staff members at the Front Street office and the Michigan manufacturing facility, the company brought its product out to market last year. Since then, it's started to see tremendous growth -- their materials have been used to construct a 125-foot pedestrian bridge in Chicago, and they just signed another contract for storage containers
last month. All the while they've continued to innovate with their product line, as evidenced by their late-January announcement of
three new patent applications.
But Hobson says the potential for growth an order of magnitude larger is on the horizon: the company is on the list of six finalists for contracts to rebuild the shattered country of Haiti in cooperation with the Clinton Foundation. While Hobson says there are a lot of "ifs and buts" remaining in the tendering process there, but the firm is optimistic that they and their partners may soon be constructing 5,000 or more homes using ICI's materials. "I'm trying not to use hyperbole, but that would be represent a 'home run' in terms of growth in revenue." Hobson says ICI would need to construct a new manufacturing facility to accommodate such an order -- and hire approximately 100 more staff (representing a sixfold increase in employees). A decision on the Haiti rebuilding contract is expected within the next 60-90 days.
Writer: Edward Keenan
Source: Clive Hobson, Innovative Composites International Inc.