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The interior of a Vantem modular factory. The company specializes in energy-efficient apartment and single-family residential modular units. The modules are shipped complete to the job site, including bathrooms, kitchens, windows, doors, electrical and plumbing, a company official said.
A Vantem modular project in Uruguay. The company currently has a combined six production plants in Bolivia, Brazil, Chile, Colombia and Uruguay.
The manufacturing revival in the Triad is set for another Back to the Future moment with the pending arrival of an international modular home manufacturer.
Privately held Vantem Global Inc. has chosen Greensboro as the launching pad for a U.S. rollout of up to 15 plants by 2030.
Vantem recently established an office at 806 Green Valley Road, Suite 200, with co-founder and chief executive Chris Anderson already in place.
Vantem specializes in energy-efficient apartment and single-family residential modular units. It has a combined six production plants in Bolivia, Brazil, Chile, Colombia and Uruguay.
Anderson said Vantem plans to begin moving U.S. headquarters operations into Greensboro in the fourth quarter with up to 20 employees there.
“We are also looking to build a plant in the general area that will service the Carolinas and Virginia that will employ approximately 150,” Anderson said.
“The formal hiring process will start in two months. In the meantime, interested persons may send their (information) to contact@vantem.com.”
Anderson, a previous resident of Greensboro, said the manufacturer selected the city in part because “we think it is underappreciated.”
“There is excellent talent in the city, and the quality of life is high in terms of the balance of cost and what the city has to offer, making it an attractive area to recruit into for additional talent.
“It does not hurt that it has attractive weather, easy reach to the beach and mountains. A little for everyone.”
Anderson said Vantem is reviewing its plant location options. The average plant is between 100,000 and 150,000 square feet.
Each U.S. plant is projected to produce a million square feet of home space each year.
Vantem said it “manufactures factory-built, finished, modular units using proprietary panels that are used to simplify the construction of high-quality, affordable and energy-efficient apartment buildings and single-family homes.”
The company said its Intelitec Building system was developed specifically for the global marketplace, where traditional masonry construction prevails. The system “enables the rapid delivery of large numbers of quality homes with the look and feel of traditional masonry construction,” according to the company.
“Construction in this sector has seen the least amount of innovation and productivity gains, and is one of the greatest direct and indirect sources of carbon emissions,” Anderson said.
“We manufacture our modular structures using a proprietary structural panel that simplifies construction and is more energy efficient. This allows us to reduce costs and produce very energy efficient homes, including Net Zero homes that require no net energy from the grid at costs that below other manufacturers. “
Anderson said about 80% of the construction is done in a factory environment, which also decreases project construction time by up to 50%.
“The modules are shipped complete to the job site, including bathrooms, kitchens, windows, doors, electrical and plumbing,” Anderson said.
Vantem’s U.S. plans are being fueled by private-equity investments from Breakthrough Energy Ventures, Quadrant Management and Vantem founder TEM Capital. TEM stands for “Transformative Energy & Materials” which defines the group’s focus and expertise.
Vantem disclosed in a June 14 Securities and Exchange Commission regulatory filing that it had raised $10.11 million from a stock offering in which investors were required to make a minimum $10,000 investment. The stock offering began May 31.
“We are excited to have the support of investors who share in our goal of meeting affordable housing needs while reducing energy and carbon emissions impacts,” Anderson said.
Another factor that differentiates Vantem in the modular home sector is that its manufacturing plants are established through joint ventures “with developers that seek to reduce costs, construction time and the carbon footprint of their developments, including building affordable net-zero energy structures.”
“The strength and resiliency of Vantem’s system is well-suited for a wide range of regions and climates, including extreme hot and cold, wet tropical, dry desert, high hurricane and seismic zones,” the company said.
“Made from refractory materials, the system is also fire-resistant.”
Carmichael Roberts, an official with Breakthrough Energy Ventures, said Vantem’s track record in South America and the Caribbean has given its investors the confidence that it “can scale their modular approach to ensure homes everywhere can be energy efficient.”
Greensboro has a history of being a major hub for residential modular homes.
Oakwood Homes Corp. was based in Greensboro. It was a leading U.S. manufacturer in the sector and a major publicly traded employer with more than 13,000 employees overall at its peak.
However, Oakwood Homes was an indirect victim of the residential housing boom that resulted in a modular home industry glut of retailers and oversupply of homes.
The oversupply left Oakwood Homes with large inventories and slumping sales at a time when it also was struggling with problems in its financial services division.
Oakwood filed for Chapter 11 bankruptcy protection in 2002.
It agreed in November 2003 to be bought by rival Clayton Homes Inc., a subsidiary of Warren Buffett’s Berkshire Hathaway Inc., for $373 million in cash.
Meanwhile, Champion Home Builders, a provider of manufactured and modular homes, said in May it would create 182 new jobs in Laurinburg as part of an $18.7 million manufacturing expansion.
Champion, a subsidiary of Skyline Champion Corp., specializes in a wide variety of factory-built solutions, including manufactured and modular homes, park model, and modular buildings.
Closer to the Triad, LGS Homebuilders LLC of Winston-Salem has been designing and building custom modular homes for Piedmont families for 23 years. It lists serving all 10 Triad counties along with Wilkes in Northwest N.C.
The company touts that “modular homes are built better, faster and stronger than traditional on-site construction homes; and built Energy Starr ready and to the latest Green Building standards.”
“Constructed in the controlled environment of our state-of-the-art factory, missing materials and weather delays are not a factor.
“The result? A home that is well constructed, energy efficient and ready to occupy in six to 10 weeks, as opposed to six months to a year.”
Topsider Homes, based in Clemmons, has carved a niche as a kit-home designer and manufacturer that specializes in building post-and-beam style homes.
Its homes often feature octagonal layouts, though they also work on fully custom projects, according to Prefabreview.com. One of its strengths is designing homes that can withstand tropical storms and can be easily built on pilings or stilts.
According to Topsider’s website, it has sold thousands of homes worldwide ranging in size from small prefab cabins and cottages to unique custom post and beam home designs approaching 20,000 square feet.
“We have even produced prefabricated and panelized restaurants and other commercial buildings,” the company said.
“Policymakers are gradually warming up to the idea that manufactured housing can play a key role in providing affordable home options,” said Mark Vitner, senior economist with Wells Fargo Securities.
“Greensboro appears to be good place to set up a headquarters and manufacturing facility.
“Rural areas in and the outer regions of metro areas in North Carolina and Virginia are areas most receptive to manufactured housing.”
Mike Fox, president and chief executive of Piedmont Triad Partnership, said Vantem likely was attracted by the region’s geographic location and manufacturing workforce.
“Locating its U.S. headquarters in Greensboro illustrates the quality of living and competitive business climate that creates momentum for our regional economy,” Fox said.
Michael Walden, an economics professor at N.C. State University, said adding Vantem to the Triad manufacturing mix “is a significant development.”
“Modular homes are a key partial solution to housing affordability.
“However, to make the concept really work, many local governments need to adjust their zoning regulations to allow modular housing to expand to more areas.”
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The interior of a Vantem modular factory. The company specializes in energy-efficient apartment and single-family residential modular units. The modules are shipped complete to the job site, including bathrooms, kitchens, windows, doors, electrical and plumbing, a company official said.
A Vantem modular project in Uruguay. The company currently has a combined six production plants in Bolivia, Brazil, Chile, Colombia and Uruguay.
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