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. Lawsuit. Brazil's Inepar to purchase InnoVida Holdings In investor's lawsuit, court-appointed receiver takes control of housing business InnoVida About Company. Inepar Inepar SA Industria e Construcoes (INEP4:BZ) Industry: Machinery-Therml Process • BM&FBOVESPA • Currency: BRL 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. 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. InnoVida had operations in USA, Germany, the Middle East, Africa, Central and South America. 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, 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.