All around the United States, an ongoing housing shortage has already started pricing first-time homebuyers out of the market and driving up the median home price to fresh highs. Much of the problem stems from a lack of adequate new home construction throughout the country. In some states, however, the answer to that problem isn’t as simple as going on a building spree.
In Florida, for example, the need for homes to meet strict structural standards due to the area’s vulnerability to hurricanes tends to drive up costs and thwart new development. But now, one construction firm is aiming to bring a new approach to the problem in the form of next-generation building materials and a pre-engineered method that makes building safe new homes much faster and less expensive.
Naples, Florida based Galexa offers a variety of pre engineered home and building construction products made from composite materials that are the culmination of over 16 years of research and testing. Galexa Homes has spent the last three years integrating those materials into a next-generation building technology system that makes for safe, more energy-efficient structures. In fact, it is the first and only 100% composite building system to come to market to date. Galexa Homes plan to use their system to disrupt both the residential and commercial building markets.
Galexa’s efforts have already attracted plenty of attention from investors, resulting in $1 million in research and development funding to date. These funds have already borne fruit for the firm. During the last three years, Galexa has gotten its building system approved under the Florida Product Approval as a category-5 hurricane-proof structure. That rating was the result of 18 months of rigorous testing, which found the system capable of withstanding up to 250 MPH winds.
But that’s not all Galexa’s system can do. It also holds a Class A fire rating, which means it even meets California’s strict fire codes. It’s also termite-proof, mold and mildew proof, and water-resistant. It’s even bulletproof – meeting both the Underwriter’s Laboratory (UL) 752 and the National Institute of Justice (NIJ) Ballistics Specifications. Galexa’s wall systems does all of that while being a lightweight alternative that’s stronger than steel and concrete.
With all of those positive attributes on the ledger, Galexa has already seen strong interest in its products. They’ve turned that interest into the sale of 154 units without spending a single dollar on marketing. Galexa has done so largely at the expense of their main market rival, Katerra.
Katerra, for its part, has a substantial head-start in the market, despite lagging behind Galexa in terms of technology. With their superior technology Galexa intends to use this to close that gap and overtake its competition. To do this, the company admits that it’s going to need some help.
Galexa is presently in discussions with potential investors and are courting others to line up the capital that they’ll need to ramp up production of their market-leading products. The company estimates that it will need another $5 million in outside investment to move forward into the next phase of development and production.
This next phase will be a busy one, indeed. Right now, in addition to the sales the company has already booked, it’s also working on developing some additional significant opportunities. The biggest is an ongoing negotiation with the Secretary of Housing for a contract to construct 1,000 homes in hurricane-ravaged Puerto Rico. The contract, once finalized, would have an estimated value of $150 million. Galexa also is in the process of building 128 unit apartment buildings in Immokalee, Florida for migrant farm workers.
At the same time, Galexa is in negotiations with NASA, HUD, and FEMA for additional government contracts in the coming years. And they’re also working with a variety of private entities on developments and projects that would total at least an additional 700 units of sales. All told, Galexa’s in the process of lining up several years’ worth of business, which would make them an exceptional value proposition for interested investors.
Going forward, Galexa plans to work tirelessly to expand its operations and to continue to develop innovative new building products that will revolutionize the market for safe, energy-efficient buildings and homes. Part of those efforts includes the ongoing development of partnerships to expand their reach in the US and around the globe.
Right now, Galexa’s exploring expansion into New York, Chicago, Texas, and California in the domestic market. They’re also working with overseas partners to gain a foothold in Italy, Germany, Brazil, and The Bahamas. That’s quite an impressive global footprint that would signal Galexa’s arrival on the world stage. And given how far they’ve come in such a short time so far – the future looks quite bright for Galexa.
Galexa is a Naples, Florida-based building materials technology company that’s bringing revolutionary new materials to the pre engineered residential and commercial buildings market. Their goal is to change the way that buildings are constructed throughout the world as well as in hurricane-prone regions using a patented, high-performance fiber-reinforced polymer composite building system. Galexa’s products are lightweight, safe, and competitively priced, providing a best-in-class alternative to traditional home and office building materials.