Business
Starfleet Innotech partners with startup Luyten to enter $19-M global 3D printing construction market
Starfleet Innotech partners with startup Luyten to enter $19-M global 3D printing construction market.
About this update from Starfleet Innotech Inc.
[{"type":"text","content":"\n NEW YORK, March 25, 2022 (GLOBE NEWSWIRE) -- Starfleet Innotech, Inc. (OTC Pink: SFIO) announced today a new strategic partnership with Australia-based 3D concrete printing startup Luyten. The exclusive agreement will see Luyten’s revolutionary construction technologies utilized across SFIO’s real estate projects in the Philippines, towards the conglomerate’s goal of building a more sustainable, equitable future for community living. As SFIO continues growing its portfolio of development projects through its real estate division, led by premiere wellness tourism brand Moraya, Luyten will play a pivotal role in championing Moraya’s mission of wellness through purposeful innovations. According to Grand View Research, the global 3D printing construction market is estimated at roughly $19 million and is expected to reach almost $5 billion by 2030. Using their own 3D printing devices and proprietary mixtures, Luyten is able to complete construction projects with 60% less waste, 70% less production time, and at only 20% of the labor costs of traditional means. According to the startup, walls for a two-bedroom home can be printed in as little as two days. Optimized for quick deployment, Luyten’s devices can be mobilized and operational in hours, as opposed to the multiple days it takes to set up traditional machinery. Through their robotic systems, Luyten can remotely control their machinery from anywhere in the world. These innovations translate to more productive, and therefore more cost-effective, construction periods. Over the next few years, Luyten will be providing the machinery and materials needed to augment SFIO’s real estate developments—an exclusive arrangement in the Philippines, where a majority of the Moraya developments will be placed. Under this agreement, SFIO will have exclusive distribution rights to Luyten’s devices in the Philippines and projects to sell at least fifty units of 3D concrete printing machinery to other developers and organizations over the next 12 months, following regulatory approvals. “Our partnership with Luyten stems from our commitment to invest in the futures of the industries we operate in,” said Starfleet Innotech CEO Jeths Lacson. “Joining Moraya’s divisional ecosystem, Luyten will play a key role as an enabler for ou...