Construction grant supports low-cost home initiative
A Nottingham-based company specialising in 'innovative' building products has developed an insulated panel system for new homes after receiving a grant from the sustainable construction iNet. Banbury Innovations received more than £4,000 to fund the initial research and development of the project.
The company has developed a structural insulated panel system (SIPS) which it said could result in new homes being built at an extremely low cost. Banbury Innovations said that it plans to market it into the low-cost housing market in the UK, and intends to roll it out for export in the developing world.
The iNet, which is funded by the East Midlands Development Agency (Emda), provided £4,200 worth of innovation, advice and guidance support.
Banbury Innovations’ managing director John Banbury said: “The iNet helped us reach the next stage in the product’s development, as we are literally on the verge of producing a potential life-changing product which would impact hugely on construction not only here but in the developing world.
"Banbury Innovations is doing what it does best, creating innovative solutions for real life situations and with the new SIPS product, I believe we can make a positive impact on the low cost housing market.”
