Denver-based
Prescient, a software design and structural system manufacturing company, has secured $3 million of a $10 million funding round.
The financing enables Prescient to bring a manufacturing facility online in Houston next year to meet demand for its system. Construction is booming in the Houston area, with $5.8 billion in permits issued this year -- a 17.5 percent increase over 2012, according to the Greater Houston Partnership.
"We are seeing growing demand for our system in Colorado and across the country," says John Vanker, Prescient's CEO. "We are currently in talks with major building companies and installers and are moving ahead with a facility in Houston, which will double our annual manufacturing capacity to 10 million square feet while providing direct access to the major U.S. growth markets of Texas, Louisiana and the South Central Region."
Prescient's patented structural system can be used in buildings up to 12 stories tall and is faster, greener and cheaper than wood, concrete or other framing options. The system uses light-gauge, cold-rolled steel and provides as much as 35 percent savings over other structural engineering methods and assemblies. The system can be erected in a fraction of the time of other engineering assemblies or any type of foundation.
Prescient has more than 9 million square feet of active projects in its sales pipeline.
Contact Confluence Denver Development News Editor Margaret Jackson with tips and leads for future stories at margaret@confluence-denver.com.
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