Seurat Technologies – the 3D metal printing leader making manufacturing better for people and the planet – today, announced three Letters of Intent (LOI) from global manufacturers that link production volumes to revenue forecasts. Applications range from tooling, energy, transportation and more, in the industrial sector. Qualification for these programs are underway, with high-volume manufacturing targeted for next year.
These LOIs, which accumulate to 25 tons of metal parts, fill the manufacturing capacity of Seurat's pilot facility and require expansion into additional full-scale production factories. Seurat anticipates that its first production factory will be around 100,000 square feet and capable of manufacturing more than 500 tons of metal parts per year. It will also be based in the Boston area and be powered by 100% green energy. As an all-electric process, Seurat's Area Printing technology has positioned itself as a leader of green transitions in manufacturing.
"Manufacturing must be closer to the customer. Having products produced in a faraway factory has clearly failed to be the best economic and environmental approach," said James DeMuth, co-founder and CEO of Seurat. "Our novel Area Printing process can scale to outcompete traditional manufacturing in every way - cost, quality, and volume, while also reducing our dependence on dirty fossil fuels. High volume orders of this magnitude are historic for the 3D metal printing industry and a tremendous step forward for the decarbonization of manufacturing."
The historic Inflation Reduction Act and CHIPS and Science Act mark a national movement to catalyze regional and economic growth while fighting climate change. Manufacturing is one of the largest emitters of greenhouse gas emissions, contributing 22 percent of total emissions in the US, which excludes the impact of shipping parts around the world. Companies need innovative solutions that decrease their carbon footprint and create a more resilient supply chain.
"Seurat's factory deployment model enables contract manufacturing to happen closer to the customer which is highly attractive to the auto industry," said Gero Corman, head of digital innovation for group production at Volkswagen AG. "Seurat's 3D printing process has the potential to produce high volume parts at cost-parity to overseas manufacturing which will provide tremendous relief to supply chains."
While the global metal manufacturing economy is estimated at $14.2 trillion, additive manufacturing (AM) is only 0.1% of that, as reported in the 2022 Wohlers Report. Previous AM solutions have been an alternative for high-value applications in niche markets and have a limited scope of influence. Area Printing by Seurat, however, enables access to the $2.5 trillion metal parts manufacturing market.
Seurat's mission is to utilize clean energy for all its global factory deployments. Starting in 2025, Seurat sees potential to deploy factories with a renewable micro-grid to fuel its manufacturing. Seurat's Area Printing will competitively displace traditional manufacturing technologies like machining, casting, and forging, reducing GHG emissions related to waste material and related production energy requirements in addition to freight, transportation, and warehousing. Seurat has validated its carbon footprint forecast according to ISO 14064 standards.
Seurat has raised $79 million from investors such as Capricorn's Technology Impact Fund, True Ventures, and Porsche Automobil Holding SE, and has more than 155 patents granted and pending. The 3D metal printing leader has doubled its employee headcount year-over-year and expects continued growth to meet demand.