U.S.-based Seurat Technologies, specializing in high-volume metal 3D printing and carbon-neutral industrial manufacturing, has raised $99 million in a Series C funding round. The round was led by NVentures, the venture capital arm of NVIDIA, and Capricorn’s Technology Impact Fund. Other new investors include Honda Motor and Cubit Capital. Previous investors such as Porsche and General Motors also participated again.
According to Seurat, manufacturing is one of the largest contributors to greenhouse gases, responsible for 31% of U.S. emissions. With his Area Printing technology, developed at Lawrence Livermore National Laboratory, Seurat aims to radically transform manufacturing and bring it back to the US. Powered entirely by green power, additive manufacturing of metal parts promises precise high-volume production with a greatly reduced carbon footprint. It could directly save up to 100 million tons of CO2 by 2030.
Seurat plans to build 3D printing factories directly at its customers’ sites around the world. This will allow parts to be produced where they are needed. This shortens supply chains and transport routes and reduces emissions. According to Mohamed Siddeek from main investor NVIDIA, accelerated data processing will open up completely new manufacturing possibilities while at the same time making production more sustainable.
Seurat’s first pilot plant near Boston is expected to produce over 25 tons of metal parts annually. The capacity is already fully booked. There are also contracts with Siemens Energy for 59 tons of turbine components over six years. In total, Seurat has letters of intent for 4000 tons of material and $750 million in sales over the next few years. This demonstrates the high demand for alternative manufacturing processes.
Seurat holds over 275 patents and trademark rights. The new funding will help to further scale the technology and build additional printing capacity.