Green building materials company Vecor Group has been selected as a finalist for the Asian Innovation Awards 2010.
Vecor's breakthrough recycling and manufacturing technologies stood out from nearly 300 entries to be shortlisted for the prestigious award. Vecor is also a finalist for the Credit Suisse Technopreneur Award, handed to the company that best applies a technology with the greatest potential for commercial success.
"The pace of our development has been exceptional," commented Vecor Group CEO, Alex Koszo, following an interview with the Wall Street Journal, Asia. "Our ability to produce high-performance building materials that are energy-efficient and cost-efficient is receiving a lot of positive attention from investors and industry partners as we transition into full commercialization."
Vecor Group has developed a suite of innovative processes and proprietary equipment that enable high-value recycling of fly ash -- a solid waste produced by coal power stations. Fly ash is a significant landfill liability in most industrial nations, with nearly 1 billion tons of fly ash destined for landfill in countries like the USA, China and India each year. Utilizing an exclusively licensed patent from the University of New South Wales, Vecor cleans up the fly ash, prepares and fires it to produce high-quality sintered ceramic tiles, pavers, bricks, blocks, and aggregates. Vecor's products are lighter, stronger and require less energy and water inputs to manufacture compared with standard building materials.
"The global scale of the coal ash waste problem represents an enormous opportunity for our unique recycling and manufacturing technologies," adds Mr. Koszo. "Our products address increasing market demand in developed and emerging markets for higher-quality, energy-efficient building materials that are cost-competitive. This demand will drive the Vecor Group's growth for many years."