A Florida-based venture capital group is promoting a little-known Asian tree species with a reputation for rot- and insect-resistance to the forestry industry.
Energy and Asset Technology says the fast-growing Paulownia tree is used in Japan, where demand exceeds supply, but is only recently discovering acceptance in the west.
The company, which has 27 varieties of the hardwood species, says the Paulownia tree can grow 10ft in its first year and is lightweight and strong.
It says the species’ rot- and termite-resistant properties make it ideal for use in construction, especially in regions where humidity and termites are an issue. Outdoor furniture is another suggested market, with the blond-coloured wood a cheaper alternative to teak and western red cedar.
Energy and Asset Technology, which seeks to combine environmentally-responsible business practices and products with profitable ventures, has interests in forests, furniture production and developments funds.
