NevHouse chief vows to fight on

A GOLD Coast surfing entrepreneur says he’s not about to throw in the towel as a group of rebel shareholders make waves with claims that his latest venture has been a wipeout.

Nev Hyman, a veteran surfboard manufacturer whose business partners have included surfing superstar Kelly Slater, launched a company called NevHouse in 2013 to turn plastic waste into lowcost, cyclone-proof kit homes for developing nations, remote communities and the homeless.

The company, whose current backers include surf star Sally Fitzgibbons, won the 2017 Pitch@Palace, a global entrepreneurial award founded by since-disgraced royal Prince Andrew.

It built 15 houses in cycloneravaged Vanuatu and set up a division supplying granny flats to the public.

But a “minority” group of disgruntled investors has launched a revolt, claiming NevHouse is “dead in the water”.

Gripes include allegations of past financial mismanagement, shoddy corporate governance and a failure by the company to deliver after seven years and more than $8 million in shareholder investment.

Mr Hyman (pictured), however, claims he has majority shareholder support and is determined to realise his vision of a company that “does good for humanity while providing returns for investors”.

He said NevHouse had made some “costly mistakes” after getting “bad advice” from former executives, and said multimillion-dollar deals to build homes in Papua New Guinea and Vanuatu had fallen through.

He said he had not taken a wage for four years and the new CEO was working only for a “success fee”. “I’ve been to hell and back but NevHouse is at a turning point and I will not give up,” he said.