The Inside Story of Why We Continue to Invest in ICON

At 1Flourish, the mission is clear: to back visionary technical founders poised to massively scale human flourishing. It's with this guiding principle that the early investment in ICON, the pioneering force in 3D home printing, becomes not just a financial decision, but a confident stride towards a future where housing is more accessible, sustainable, and resilient. The initial conviction came from David Lane, who has tracked the 3D home printing industry for over a decade. He was impressed by ICON's long-term vision, the high character of its founders, and their technical ability to solve multiple hard challenges inherent in 3D home printing.

ICON’s founders have a compelling mission to help address the critical shortage of housing, particularly homelessness. Their work building homes for social and affordable housing led to partnerships like New Story, a non-profit serving families in need of shelter, which supported the first 3D printed housing community. Partnerships with organizations like Mobile Loaves & Fishes to build homes for the chronically homeless further exemplify this dedication. The recent announcement of ICON homes coming to the Mueller community in Austin, including affordable housing options, demonstrates their continued commitment to increasing access to quality homes.

One of the hard problems ICON tackled was the material science of making printable concrete. Recognizing that conventional concrete wouldn't suffice for 3D printing, ICON's team of PhD material scientists developed a proprietary mix. This innovative blend, incorporating concrete powder, water, and other additives, is the lifeblood of their construction process, squeezed out layer by layer to form the walls of durable structures. Their commitment to innovation extends to low-carbon building materials, evidenced by their Phoenix line of multi-story 3D printers and the groundbreaking CarbonX formula. This new low-carbon printable concrete, highlighted in a white paper co-authored with MIT, showcases ICON's dedication to a more sustainable future for the built environment. The life cycle assessment results presented in this paper demonstrate the lower embodied and operational impacts of their 3D-printed homes compared to traditional stick-frame construction.

Simultaneously, ICON recognized the necessity of cutting-edge construction design software. This led to the development of sophisticated CAD home design software that seamlessly integrates with their robotic printing technology. Further solidifying their prowess in this domain, ICON unveiled CODEX™, a digital catalog of over 60 ready-to-print home designs. This initiative aims to democratize high-design and high-performance residential architecture at various price points, empowering builders, developers, and homebuyers alike. Taking this a step further, ICON introduced Vitruvius™, an AI system for designing and building homes. With the ultimate goal of transforming human and project inputs into robust architecture, permit-ready designs, budgets, and schedules, Vitruvius represents a paradigm shift in architectural design and construction planning.

The final piece of ICON's revolutionary puzzle is their advanced hardware for printing homes. The Phoenix™ multi-story robotic construction system stands as a testament to their engineering ingenuity. This advanced system can print entire building enclosures, including foundations and roof structures, with increased speed, size, and decreased setup time, significantly reducing printing costs. ICON's ambition is to place this robotic technology directly into the hands of builders, amplifying their reach and impact.

ICON's journey has been nothing short of a "rocket ship". From printing the first permitted 3D-printed home in the U.S. to securing key strategic partnerships with major players like Lennar, which plans to double its new home development with 200 additional homes. 

1Flourish's early investment in ICON reflects a profound belief in a future where technology drives human flourishing. The advancements in material science with CarbonX, the design freedom offered by CODEX and the potential of Vitruvius, and the transformative capabilities of the Phoenix printer paint an exciting picture of what's possible. We at 1Flourish are not just investing in a company; we are investing in a vision – a future where high-quality, resilient, and affordable homes are within reach for more people, built with groundbreaking technology and a deeply rooted sense of purpose. The accomplishments to date only fuel our excitement and hope for the profound impact ICON will continue to have on the world.

"To address the global housing crisis, something radical and courageous needs to happen. Construction-scale 3D printing is designed to not only deliver high-quality homes faster and more affordably, but fleets of printers can change the way entire communities are built for the better." JASON BALLARD / ICON CO-FOUNDER & CEO