Our client Minimass has developed and patented a novel technique for making concrete beams which reduces embodied carbon by up to 70% AND cost by up to 50%. This technology is destined to take the construction industry by storm, and our client is now seeking three Non-Executive Directors / Advisors to join the company to help them on their exciting journey.
They are on the cusp of deploying their first bridge design using these beams as part of the reconstruction effort in a war zone – the potential sales in the reconstruction sector are huge and not just where there are wars, but natural disasters like earthquakes too. With the capability of manufacture either off-site or on-site, they will become the “go to solution” for access reconstruction.
The beams which are 3D printed, can also be used in the construction of buildings and their use in several projects is under consideration.
The Directors of Minimass have spent 15 years working in the engineering design consultancy industry, with one of the Directors most recently head of engineering at Bjarke Ingels Group, in Copenhagen. He has been working in the 3D printing field for a number of years and using this experience has developed a completely new geometry and method of manufacture for simple beams, which offers major improvements in sustainability as well as cost reductions. The first of two patents were granted in February 2022.
The company is headquartered in the UK, with a subsidiary Danish company carrying out initial R&D work.
The Non-Executive Directors / Advisors will be encouraged to become shareholders in the Company to align their interests with those of the existing Directors and shareholders.
Business Concept:
- The range of products, initially beams, has been named Minimass, emphasising the goal of minimizing the mass of material used. They will provide scalable solutions to meet the sustainability demands of the bridge and non-residential building market, and be based upon flexibility of design, and of production location.
- They will provide an equivalent solution to the long-established technologies of pre-cast and in-situ reinforced concrete beams, but with substantial savings in carbon and cost.
- Concrete, in its many uses is directly responsible for 6% of all global carbon emissions: thus Minimass, is uniquely positioned to help governments and businesses in their search for greener solutions.
- Immediate focus will be on the Reconstruction sector, and also the U.K. and Danish marketplaces, but the techniques will be widely applicable.
- The first patents gained in the UK will be broadened to allow economic development of other markets including the EU and USA. As well as the main Minimass set of products, the company will provide software tools for designers, to enable the rapid design and manufacture of the types and lengths of beams needed. They will partner with established high quality Construction Companies and 3D Printer manufacturers, to allow Minimass to penetrate global markets without the need to set-up its own high fixed-cost manufacturing facilities.
Market & Opportunity:
- The global precast concrete construction market is measured at £85.5 billion* in 2020, with the largest segment being beams and columns at 24%** of the total (or £20.5 billion).
- The non-residential concrete beam market (2021) is estimated to be £600 million in UK, £63 million in Denmark, £2100 million in EU exc. Denmark and £2870 million in US.
- Leading cement manufacturers are targeting c. 15% reduction in carbon intensity by 2030.
Business Proposition:
- Our client has already succeeded in raising £225k of investment. However, it will require further funding to top this up during 2023.
- EIS scheme is available.
- Main priorities for 2023: installation of first bridge for reconstruction project in major war zone (expected to lead to further sales), completion of pilot phase installing two beams in traditional architectural settings, widespread professional and regulatory approval for these novel techniques, development of partnership opportunities.
Three Non-Executive Directors' Criteria:
- Commercially oriented Director: with broad experience of Sales and Marketing. Either experience and senior contacts within the Construction industry, or experience of a licensing sales model will be a great advantage in developing viable partnerships with major international players.
- Finance oriented CFO/FD: with experience of commercial fundraising for early stage companies, including the successful pursuit of available grant funding from various sources.
- Manufacturing experience: ideally within the Construction industry, who can ensure that the company can develop partnerships for delivery of products but can also ensure effective set-up of modest in-house manufacturing capability – both for R&D purposes and for initial product delivery.Any NEDs appointed will be prepared to contribute their time and experience, until in-house full-time staff are gradually appointed.
- The NEDs can expect to take a significant advisory role in the appointment of senior Minimass staff.
- The incoming Non-Executive Directors will be encouraged to become shareholders in the Company to align their interests with those of the existing Directors and shareholders.
* Fortune Business Insights, Market Research Report, June 2021.
**Allied Market Research, Precast Construction Market – Global Opportunity Analysis and Industry Forecast, 2014-2022.
Applying for the role:
Candidates who feel they meet the above criteria are invited to apply having first registered their CV with First Flight Non-Executive Directors (if they have not already done so – there is no charge) by using our “Apply for Role” tab for role no: 1197 and completing the application form explaining how they match the key criteria we have set out for the role.
Closing date for applications: Monday, 30th June 2023
