Tectonus secures $8 million investment to accelerate global expansion of next-generation earthquake protection technology

Friday, April 8, 2022, 4:53 PM Press Release: Tektonos

Tectonus, the leading New Zealand specialist in earthquake engineering, has raised NZ$8 million in a recent funding round led by New Zealand venture capital firm Pacific Channel. Other investors who participated in the capital round included NZ Growth Capital Partners, Nelson Angels, K1W1, Angel HQ and a group of existing shareholders including current management.

Pierre Quinville, co-founder of Tectonus, says the investment provides the capital and expertise needed to accelerate the company’s global growth strategy, providing an innovative earthquake engineering solution that offers safety, sustainability and economic benefits not achieved by traditional earthquake technologies.

“Most importantly, this investment allows us to rapidly expand our plans to increase sales in Canada, where we have already successfully installed our patented earthquake protection technology in two highly engineered timber-based construction projects, and focus on other key regions including Japan. and North America, and expand the research and development team in New Zealand.

To facilitate this path and expand our global reach, we are pleased to announce the appointment of our CEO, Karl Beck, who has extensive experience in early stage growing companies and will be instrumental in driving sales to key global markets. Karl will lead the newly appointed management team and help expand the New Zealand R&D team to further develop a robust application pipeline,” Mr. Quinville said.

Tectonus CEO Karl Beck said: “Right now, Tectonus is on the edge of accelerated international growth and it’s an exciting time to join the company. Our earthquake protection technology can save communities and businesses billions of dollars in economic losses from a seismic event. We see the potential of Huge market share in North America and Japan, and the Pacific Channel investment allows us to go out and capture that market.

Kieran Gina, Pacific Channel Partner, said: “Our strategic investment represents the confidence we have in the ability of Tectonus to achieve commercial sales targets in key global markets, but also recognizes the full potential of the technology that will be expanded across a range of other applications including flexible dampers. For liquid storage tanks, flexible cross trusses for buildings and real-time building health monitoring through IoT sensors.

Mr. Quinville adds: “Tectonus has successfully validated the technology and has so far secured eighteen commercial projects, fifteen of which are now completed. In addition to work in Canada, notable local buildings include Nelson Airport, Lincoln University of Northern Sciences building and Hot Valley Health Hap.

“Designed to save buildings and lives, this is one device that automatically repositions and extinguishes a building during the earthquake and its subsequent aftershocks,” said Mr. Quinville. “It is an important solution to change the steps on existing anti-seismic technologies and what is really exciting is the unparalleled advantage that we are offering on a large scale timber-based.

“Due to its attractive environmental properties, timber is increasingly being used by the engineering and construction sectors, over traditional materials such as concrete and steel. This represents a huge opportunity for Tectonus and the global construction industry as it provides superior earthquake protection without compromising the sustainability and economic benefits that are achieved by using timber. .

“Securing this investment is not only a major milestone for Tectonus, it is a major step forward in ensuring that people, buildings and economies are protected after a seismic event. We are very proud to be at the forefront of this transformation,” Mr. Quinville said.

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