Sunnyvale, Calif.-based Serious Materials is preparing to open its fifth factory next month as it continues its aggressive growth despite the economic downturn.
CEO Kevin Surace told the Cleantech Group that the company has about 200 employees but could grow to nearly 900 if it reaches full capacity at its two newest production facilities.
“You know a certain percentage of projects are going to get postponed right now, so in effect you have to sell a lot more than you think you have to sell,” he said. “But aside from that we’re having record quarters and record years.”
McGraw-Hill Construction predicts a 7 percent decline in U.S. construction starts in 2009 to $515 billion, a slight improvement over 2008’s 12 percent decline.
But green building is comprising a growing segment of the shrinking building sector. The U.S green building market in 2005 was valued at $7.8 billion, or roughly 2 percent of the commercial building sector. McGraw-Hill projects it will grow to $60 billion, or 10 percent of the market, by 2010.
Serious was one of two or three of the 20 venture-backed green building materials companies already in production when the economic downturn began, Surace said. The company is …




