Vancouver-based construction materials firm Nexii Building Systems boasts of expansion plans that include licensed manufacturers for its futuristic eco-friendly building components system in Pittsburgh, Dallas and southern Vancouver Island.
An attempt to crack the Ontario market, however, has ended with a purported partner, a subsidiary of Burnaby headquartered Symphony Group, suing Nexii in B.C. Supreme Court over an alleged breach of contract over negotiations Symphony thought would wind up in agreement to license production in Ontario.
Subsidiary firm Symphony Advanced Building Technologies (SABT) incorporated in Ontario and in spring 2019 started talks with Nexii aimed at reaching a licensing deal, one of two ways Nexii talked about wanting to expand beyond its Vancouver roots, according to the document.
Nexii, a startup that has become a darling of the green building sector valued at over $1 billion, attracted Symphony’s principal Gurdeep Kainth, who was an early investor for its patented system for high-tech building designs that use wall, floor and roof panels that are manufactured at central plants and assembled on construction sites.
“Ontario is one of the largest construction markets in all of North America, so it was very important for us to secure those rights in this incredibly growing market,” said Max Krangle, vice-president of corporate development for SABT.