Innovation in drywall isn’t necessarily something that springs to mind when you think about clean tech. But Sunnyvale, Calif. based green building material startup Serious Materials is in the process of raising a whopping $50 million series B round to deliver more earth-friendly drywall. The company’s CEO Kevin Surace confirmed the fundraising with us this morning, which was first reported by Venture Wire. Surace expects the round to close over the next 3 months.
The company founded in 2002 previously raised $5 million from Rustic Canyon Partners. Surace wouldn’t disclose a list of potential investors but said that Rustic will likely participate in the upcoming round. Surace said the new funds would go toward opening a new plant in Stockton, Calif., and to work on getting its new green dry wall product to market next year called EcoRock. The company says EcoRock can drastically reduce energy consumption and carbon emissions from drywall production.