Mineral-based insulation grout

I have been offered a grout which when applied to a wall in a 1cm coat, is equivalent to 3cm of foam insulaton. (Used to insulate houses.)
Does anyone have any experience with such a material? is it worth using? or is it a waste of money?
I don't know what the brand name in the UK is, here (Turkey) they sell it as "izofull". It comes in different grades, 1-3, 3-6 and 6-8mm. Lambda value 0.031w/m2K.
TIA for your help
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Abdullah Eyles wrote:

sounds like a vermiculite (sp?) loaded cement.
If conductivity is as you say, that equivalent to rockwool or polystyrene, of similar thickness, and not quite as good as polyisocyanurate.
It wont be as good at 1/3rd the thickness...HOWEVER it WILL have tha advantage over e.g. a rockwool filled stud wall that it covers the WHOLE area. There is significant heat loss via the timber studs which span the insulation in a stud wall, and likewise via other ties that span a cavity block wall.
I'd say it was well worth a go, but on the limited info you have, its hard to make a decent cost benefit analysis. Knowing Turkey's intimate ties with Germany, and their penchant for house insulation, my other guess is its a German product and probably does more or less what it says on the tin...

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