SAGLE, Idaho — A relatively new and innovative North Idaho company has landed a large work order that could equate to millions of dollars in revenue.
On Thursday, Sagle-based Rhino Hide announced that it had received a letter of intent to purchase from Texas-based Advanced Building Technologies. The agreement, Rhino Hide CEO Jason Giddings said, was valued at upwards of $7 million.
Rhino Hide, which was invented by Giddings, is a mixture that's pumped into the interior of wall sections where it hardens and become bulletproof. Giddings has so far marketed his product towards schools, dubbing it "bulletproof wall filler." The mixture is an easier and quicker way to retrofit existing walls, Giddings said.
Advanced Building Technologies, or ABT, creates and markets small portable and convertible structures that can be used for a variety of purposes. "Made in the USA, we specialize in the design and sales of custom, multi-purpose, factory built, structures," a statement on the company's website reads.
According to Giddings, ABT is contracting with the U.S. Department of Homeland Security to provide between 2,000-3,000 mobile structures for border patrol agents working on the Southern U.S. border. The structures would be used for border patrol to operate drones out of or possibly sleep in, Giddings said.
If all goes according to plan, Rhino Hide would provide around 200 gallons of mixture per each ABT structure. "That equates to about 400,000 to 600,000 gallons of Rhino Hide," he said. "It also puts our products in front of the folks at the Pentagon." Giddings noted that he had created Rhino Hide with protecting schools in mind, but he was nonetheless excited about the ABT purchase.
"All the sudden it is real," he said. "Now we have real proof. We have a real customer that is intending to purchase a product." Giddings noted that other companies had expressed interest in Rhino Hide, but ABT was the first to put "pen to paper."
Giddings says he'll start fulfilling orders within the next six months. He'll first conduct additional testing before shipping Rhino Hide. "We can feel pretty confident that the business is going to take off," he said.
When contacted for this story, an ABT spokesman declined to comment on the work order.