InnoVida

InnoVida was a manufacturer of building materials, founded by businessman Claudio Osorio. It entered bankruptcy in 2011, one in a string of companies taken into bankruptcy under Osorio's leadership.[1]

InnoVida
Private
IndustryConstruction Materials
Founded2005 (2005) in Miami, Florida, United States
FounderClaudio Osorio
HeadquartersMiami, Florida (North America) Dubai, UAE (Middle East)
Area served
Worldwide
Key people
Atilano de Oms Sobrinho (CEO)

Mario Sanchez (VP)

Craig Toll (CFO)
ProductsFiber Composite Panels
Number of employees
500+
Websiteinnovida.com
inepar.com.br

Law Suit

Brazil's Inepar to purchase InnoVida Holdings[2]

In investor's lawsuit, court-appointed receiver takes control of housing business InnoVida[3]

History
  • 25 April 2007, the Osorios were insolvent by this point as court papers would later reveal.
  • 16 November 2007, Jeb Bush becomes a consultant for $15000 a month.[4] Before signing up Bush conducted a background check on Osorio, which found "no red flags indicating criminal or financial wrongdoing."[5]

About Company

Inepar Inepar SA Industria e Construcoes (INEP4:BZ) Industry: Machinery-Therml Process • BM&FBOVESPA • Currency: BRL[6]

They took parts of a material and processing technology originally invented by a German company, and claimed from then on to have developed this technology calling it ¨InnoVidaPanels (Composite Structural Insulated Panels or CSIPs). Using project materials, names and products like being their own property in the beginning they presented it as an alternative to traditional construction materials, with the goal of allowing for faster and cost-effective construction. ¨InnoVida's¨ sandwich panels are similar to the materials used to make watercraft and aircraft, such as the Boeing 787 and Airbus A350. Uli Schwartau and Claudio Osorio were the founder and co-founder and CEOs of InnoVida. Uli Schwartau was inventor of the technology, Claudio Osorio was previously the CEO of CHS Electronics, Inc.[7]

While Uli Schwartau left (or had to leave) InnoVida several months ago Osorio’s legal troubles have piled up in the last year.

InnoVida's panels are becoming more accepted as an alternative to traditional construction materials. They are sold as being stronger, more flexible than cement, steel or bricks and also non-flammable, waterproof and hurricane resistant.

"InnoVida technology would have a far-reaching impact on the booming construction industry by reducing its dependence on cement, wood, steel and labor while ensuring speedy environment-friendly construction. 'We hope our building on Al Reem Island will be the first such structure to inspire other builders to adapt this technology which will go a long way in saving energy and construction time.'" - Dr. Abdallah Shaaban, Chief Executive Officer of Tameer Abu Dhabi.[8]

InnoVida had operations in USA, Germany, the Middle East, Africa, Central and South America.[9]

Past projects include: The 20,000 sft. Tameer Holdings Corporate office building, A 45-foot pyramid, made of InnoVida panels built in UK's Hyde Park and painted by the artist Romero Britto,[10] a $15M USD Factory in Tanzania, a $28M USD project in Chengdu, China for post-disaster reconstruction and new village building.

Products

InnoVida's composite building materials (CSIPS), are similar to the materials used to make watercraft and aircraft, such as the Boeing 787 and Airbus A350.

They can also be formed into any dimension, shape, which is required for the structure. CSIPs reduce building costs by almost half because cement, steel and wood would not be required.[11]

gollark: It can just call out to JS functions via interfaces you define.
gollark: Er, because WASM doesn't have IO?
gollark: Also, WASM relies on JS still.
gollark: In some way or another, almost every language compiles to JavaJSScript.
gollark: JS isn't exactly *dying*, just getting stuff shoved on top of it.

References
  1. "Osorio's InnoVida companies enter Chapter 11". bizjournals.com. Retrieved 2018-05-19.
  2. "Miami-Beach, FL". Topix. Retrieved 2018-05-19.
  3. miamiherald.com
  4. Gold, Matea (2015-01-19). "Timeline: Jeb Bush and InnoVida". Washington Post. Retrieved 2018-05-19.
  5. Frates, Chris. "Overlooked red flags thrust Jeb Bush into scandal - CNNPolitics". CNN. Retrieved 2018-05-19.
  6. "INEP4:BM&FBOVESPA Stock Quote - Inepar SA Industria e Construcoes". Bloomberg.com. Retrieved 2018-05-19.
  7. Innovida website innovida.com Archived 2010-05-05 at the Wayback Machine, "Claudio Osorio Bio"
  8. Reporter, A Staff. "Building sans steel, wood and concrete nearing completion". khaleejtimes.com. Retrieved 2018-05-19.
  9. Staff Reporter (25 November 2007). "Innovative building takes shape on Al Reem Island". Go Wealthy. Archived from the original on 1 January 2008. Retrieved 29 September 2009.
  10. "45ft 'King-Sized' Pyramid Arrives in Hyde Park to Mark the Opening of 'Tutankhamun and the Golden Age of the Pharaohs' | news.sys-con.com". sys-con.com. Retrieved 2018-05-19.
  11. Daily News Reporter (13 August 2008). "New Housing Technology Comes to Dar". Tanzania Daily News. Retrieved 29 September 2009.
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