Texas startup receives $9M to build affordable 3-D printed houses
High-tech homes
In the not-too-distant future, a Texas company's 3-D printed homes will be popping up across the world for a fraction of the cost of traditional homes.
"It's our mission at ICON to reimagine the approach to homebuilding and construction and make affordable, dignified housing available to everyone throughout the world," says Jason Ballard, co-founder and CEO of Austin-based ICON LLC. "We're in the middle of a global housing crisis, and making old approaches a little better is not solving the problem."
The 3-D printed homes startup just raked in $9 million in seed funding from a host of investors, including Fort Worth-based homebuilding giant D.R. Horton; Vulcan Capital, a Seattle investment firm launched by Microsoft billionaire Paul Allen, who died October 15; Austin startup accelerator Capital Factory; Austin real estate developer Cielo Property Group; and San Francisco venture capital firm Oakhouse Partners, which is the lead investor.
At this point, ICON executives aren't sure when their homes will be popping up around town. However, Ballard tells CultureMap, "serious conversations" are underway about bringing these homes to Austin and other places around the world.
In March, ICON reaped tons of press when it unveiled a 350-square-foot 3-D home at SXSW — the first home of its kind to receive a construction permit in the U.S. At the time, ICON executives said the home — constructed of concrete and printed in less than 48 hours by 3-D printing robots — cost less than $10,000. By contrast, the median price in September 2018 of a single-family home in the Austin metro area was $302,250.
ICON's first batch of homes is planned for a project in impoverished El Salvador that's being developed in conjunction with New Story, a San Francisco nonprofit that seeks to eradicate homelessness. The first homes there are scheduled to be printed next year.
ICON is targeting a per-home cost of $4,000 in El Salvador. Relying on technology upgrades, ICON hopes to create each 3-D home in less than 24 hours.
"While prices to print homes will vary from country to country and state to state," Ballard says, "the big takeaway is that downloading and printing a home has the potential to cost half of standard construction costs."
Homes at the development in El Salvador will measure 600 to 800 square feet — around the size of a typical one-bedroom apartment. Eventually, ICON aims to print homes in the 1,500- to 2,000-square-foot range.
Among the advantages of 3-D printed homes cited by ICON are:
- Speedy construction
- No manual labor
- Little generation of leftover construction materials
- "Tremendous" design freedom
There's a positive environmental impact with this construction process as well.
"Conventional construction is slow, fragmented, wasteful, and has poor thermal properties that increase energy use, increase operating costs, and decrease comfort," Ballard says. "Also, conventional materials like drywall and particleboard are some of the least resilient materials ever invented."
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This story originally appeared on CultureMap.