NEW YORK--(BUSINESS WIRE)--Phalanx Impact Partners (“Phalanx”), a US-based impact driven private equity firm, today announced they have made an investment in ECOR Global Inc. (“ECOR” or “the Company”), an emerging leader in the manufacture of sustainable materials and circular solutions for the building products and packaging markets. This investment underscores Phalanx’s mission to support businesses that drive positive environmental and social impact.
Headquartered in San Diego with facilities in the Netherlands and Serbia, ECOR’s proprietary technology converts agricultural waste and select by-products into sustainable building and packaging materials without the use of toxic binders, such as commonly used petroleum-based glues or urea formaldehyde. As a result, all ECOR’s products are fully recyclable, and their marquee product, ECOR-Ply, is the world’s first fully recyclable plywood that meets all building industry standard specifications. ECOR-Ply panels can be used by customers across various applications including flooring, cabinetry, furniture, general construction, retail displays, store fixtures, interior architectural elements, secondary packaging and more. To expand product availability in North America, ECOR is developing a site in the Corpus Christi, Texas region for easy access to agricultural resources and their manufacturing and distributor customers and evaluating other U.S. locations.
The Phalanx funding marks an important milestone for ECOR as the company prepares for a significant increase in production capacity and distribution of its proprietary materials solutions. With the Phalanx investment, ECOR will further accelerate the pre-construction design and commercial work related to its first U.S. facility, expand its Serbian operations, and enhance its capabilities to develop cutting-edge materials and solutions that address pressing global challenges related to resource depletion and environmental degradation.
"We are thrilled to partner with Phalanx in our journey to revolutionize the way materials are produced, used, and repurposed," said Jay Potter, Co-Founder and CEO of ECOR. "This funding will allow us to scale our operations, accelerate facility development to meet contracted demand, and drive forward our mission of creating a more sustainable and circular economy for our growing customer base."
Phalanx is recognized for its strategic investments in companies that prioritize the creation of products that promote sustainability, circularity, and technological advancements. The firm's decision to invest in ECOR underscores its confidence in ECOR's innovative approach that provides healthy and sustainable material alternatives for flooring, furniture, and other interior applications, in addition to secondary packaging and exhibition solutions.
"We are proud to support ECOR as they continue to pave the way for sustainable solutions that align with our vision for a more regenerative and equitable future, and we are additionally excited by the potential for ECOR to provide a more beneficial use for the majority of agricultural mass that is not consumable and has historically been disposed of in environmentally damaging ways," stated John Pantalena, Partner at Phalanx. "ECOR's commitment to environmental stewardship and circular design perfectly aligns with our investment philosophy. We’re excited to help them grow and prepare to embark on a significant infrastructure focused capital raise in the coming year."
ECOR's unique approach revolves around transforming natural fibers and recycled materials into versatile, high-performance composites. These composites have applications in sectors ranging from substrates for flooring and furniture, to packaging and consumer goods. In addition to ECOR-Ply, the Company also offers ECOR-1 with applications including flooring, cabinetry, furniture, and retail displays, as well as has the ability to produce custom formulated materials to meet customer needs.
The funding from Phalanx will enable ECOR to accelerate its near-term development initiatives and complete the design and commercial work for its first planned U.S. facility and further expansion thereafter. Over the next year, the Company is additionally seeking to partner with one or more infrastructure capital firms to further accelerate its development and ability to meet rapidly growing customer demand for its products. The Company and Phalanx look forward to expanding market awareness of the Company’s unique products, planned facilities and commitment to building a more sustainable environment for industry and consumers.
For more information visit phalanx.partners and ecorglobal.com
About ECOR:
ECOR is a pioneering company in the sustainable materials industry, specializing in creating advanced composites from natural fibers and other recyclable materials. With a commitment to circular design principles, ECOR develops materials that are versatile, high-performance, and environmentally friendly. By reimagining the lifecycle of materials, ECOR aims to drive positive change in various industries and contribute to a more sustainable future. For more information visit ecorglobal.com
About Phalanx Impact Partners:
Phalanx Impact Partners is a New York-based private equity firm that is committed to driving positive change in sustainable industries by investing in early to growth-stage companies. The firm's portfolio includes pioneering companies leading in impact-focused fields of domestic renewable energy infrastructure, waste-to-value technologies and plant-based industrial products, among others. The firm's mission is to create lasting value for both investors and the planet. For more information, visit phalanx.partners or contact us at inquiries@phalanximpact.com.
