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CSI Receives Its First Increment of New Investment

  • Thursday, 23rd November 2000
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Composite Solutions, Inc. announced that it has received the first increment of a $2M US Dollars investment by Prime Industrial Co., Ltd. of Korea (“Prime”). Under an agreement reached on Oct. 25, Prime will fund CSI over a two-year period at the rate of $250,000 per quarter. Prime will make additional investments in Asia as necessary to launch and run new construction and retrofit projects in Asia that incorporate CSI’s revolutionary composite technologies. Of particular interest to Prime is CSI’s carbon shell system (CSS) for new construction applications.. CSI’s and Prime’s managements predict a multibillion-dollar market potential for new construction applications of this technology in Asia. CSI’s share of this market will be derived from licensing, material sales, and engineering service agreements with Prime. CSI provides end-to-end solutions for a variety of industries that use fiber-reinforced polymer (FRP) composites. Using technology developed by and licensed from the University of California, San Diego, CSI offers a comprehensive package from analysis through construction. Primary uses of the technology include revolutionary new construction, structural strengthening earthquake retrofitting, and blast hardening of a variety of structures. For more information, visit CSI’s website at http://www.CompositeSolutionsInc.com.


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