Tory peer Lord Fink worth 拢160m, according to this year鈥檚 rich list
Former co-treasurer of the Conservative party and hedge fund guru Lord Stanley Fink has invested 拢3m in Project Etopia, a manufacturer of modular homes and school buildings.
The Cambridge-based firm produces the buildings in four weeks, with units featuring smart technology, mechanical ventilation, heat recovery, air purification, daylight mimicry lighting and solar power.
Fink, who made his 拢160m fortune in hedge funds and hotels, became a director of Project Etopia in June and his investment will mean the business can scale up its operations over the next two years, according to Joseph Daniels, the firm鈥檚 founder and chief executive.
鈥淲e鈥檙e going to lead the way in providing state-of-the-art housing for a reasonable price tag, while continuing to develop our technology to make each project superior by design and with ever shorter build times,鈥� Daniels said.
Fink, who made this year鈥檚 Sunday Times rich list of the country鈥檚 1,000 wealthiest people, labelled Project Etopia 鈥渁 novel, credible, affordable and environmentally-friendly way to provide starter homes for young people.
鈥淪hort build times, truly desirable houses and a broken housing market are three good reasons why Project Etopia has a colossal opportunity to deliver a lasting social impact.鈥�
Project Etopia recently completed a school (pictured) with Mitie at Brightlingsea in Essex.
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