Listen to this article
Seurat Technologies has raised $99 million in a Series C funding round to advance its 3D metal printing technology for sustainable manufacturing. Powered by green energy, Seurat’s Area Printing technology aims to significantly reduce greenhouse gas emissions in the manufacturing sector. The company plans to establish local printing factories worldwide, bringing manufacturing closer to demand and further reducing carbon footprints.
Investment Boost for Green Manufacturing
Seurat Technologies, a leader in 3D metal printing, has successfully raised $99 million in a Series C funding round. This round was spearheaded by NVentures, NVIDIA’s venture capital division, and Capricorn’s Technology Impact Fund, which emphasizes climate solutions. Notably, new investors like Honda Motor and Cubit Capital have joined the round, alongside returning investors such as True Ventures, SIP Global Partners, and General Motors Ventures.
Addressing the Manufacturing Emission Challenge
Manufacturing is a significant contributor to greenhouse gas emissions, accounting for 31% of emissions in the US. Traditional manufacturing processes have been criticized for their lengthy durations, hindrance to innovation, contribution to climate change, and offshoring of jobs. However, with the Biden Administration’s commitment to green manufacturing and a $6 billion pledge to reduce industrial emissions, the focus on sustainable manufacturing has intensified.
Seurat’s Vision for Decarbonized Manufacturing
Seurat’s Area Printing technology, which originated from Lawrence Livermore National Laboratory, is powered entirely by green energy. This 3D metal printing innovation offers high-precision, high-volume, and decarbonized manufacturing. Seurat projects that by 2030, their technology could potentially offset up to 100 million tons of CO2. James DeMuth, Seurat’s Co-Founder and CEO, expressed the company’s ambition to establish a green manufacturing industry. He emphasized that their additive manufacturing technology would offer clean manufacturing that can rival traditional methods in terms of volume, quality, and cost.
Global Deployment and Reshoring
Seurat aims to set up its printing factories close to customer locations worldwide. This strategy will not only bring manufacturing closer to where products are needed but also reduce emissions associated with transportation and global logistics.
Impressive Business Growth and Future Prospects
Seurat’s pilot factory, located in the Greater Boston area, boasts the capacity to produce over 25 tons of metal parts annually. The company has also secured commitments to produce 59 tons of metal components for Siemens Energy turbines over the next six years. With Letters of Intent from six customers, Seurat anticipates a projected revenue of over $750 million in the coming years, highlighting the growing demand for a shift in manufacturing paradigms.
Seurat Technologies is at the forefront of transforming the manufacturing landscape. With its innovative 3D metal printing technology and a strong emphasis on sustainability, the company is poised to make significant strides in decarbonizing the manufacturing industry.
Please email us your feedback and news tips at hello(at)techcompanynews.com
