Currant 3D Repurchases Food 3D Printing Technology 3D Printing
Currant 3D buys back food3D printing technology
October 19, 2022, learned that von Hasseln, along with Currant 3D co-founder Meagan Bozeman, has repurchased the technology under the Currant 3D brand. This will allow the California-based company to continue 3D printing food products, as well as selling printers and supplies. The company acquired the technology from investors in May 2022 for $5 million, and Currant 3D's post-investment assessment is $16 million, with the aim of scaling the business.
Bozeman explained the investment strategy to Tech Crunch: "After Kyle developed his culinary 3D printer, it was quickly acquired by 3D Systems, where he and I teamed up to create and run the culinary technology division and build the CURRANT 3D printer from the ground up. We left 3D Systems in 2019 to start our company with the support of our investment group and quickly became the largest buyer of 3D printing technology. When the opportunity to acquire the technology presented itself this year, we returned to our investor network, which was extremely supportive, and raised the funds to fully acquire the CURRANT 3D printer platform. We are very proud and grateful to have this technology back in the hands of the original inventors and advocates. This puts us in full control of our future, and we will be able to 3D print food much faster in the future."
△Sugar Lab's 3D Printed Koreatown Series
Currant 3D's technology was originally developed by von Hasseln and his wife Liz in 2013 under the banner of Sugar Lab, a boutique food 3D printing company. A form of adhesive jetting, the process jets water onto a dehydrated food powder or powdered bed of sugar to produce a three-dimensional part. Using food-safe ingredients, these prints can be produced in a vibrant, full-color palette. In addition, a variety of flavorings can be added to create novel taste experiences.
Candy 3D printing's "road to redemption" with a twist
The company was acquired by 3D Systems after a major deal by former CEO Avi Reichental. Like many of the companies purchased at the time, it had great promise, but was not fully commercialized. That is, until 2019, when 3D Systems entered into an agreement with Brill to market the technology. As of 2020, Brill Culinary Studio is still "powered by 3D Systems," but that tagline is dropped until at least March 2021. It's unclear from the SEC filing when 3D Systems will offload the assets associated with its culinary 3D printing division. Brill continued to market the machine on its website until Feb. 27, 2022, just before the deal sold it back to its inventor.
△ Formerly the "Brill 3D Culinary Studio powered by 3D Systems," now known as the CURRANT 3D printer. Image courtesy of Currant 3D
Brill itself is going through some changes that may have led it to drop this unique technology from its portfolio. founded in 1928, Brill was acquired by CSM Ingredients in 2018, which may explain its involvement in 3D printed food next year. However, before Brill could put the technology into practice, it was acquired by Rise Baking Company, which in turn is owned by Olympus Partners.
△ A series of edible decorations 3D printed using Currant 3D's food 3D printing technology. Decorations inspired by Coming 2 America. photo courtesy of Brill and Local Three
All of this is to say that the food ingredients business may be experiencing some turbulence at the moment, possibly due to supply chain issues. We've seen the supply of products like grains negatively impacted by a variety of factors, including global warming-induced drought and the war in Ukraine. This in turn has had a ripple effect on global food and the economy.
Taking a new leap forward in confectionery 3D printing technology
Now, Currant 3D has what may be the only commercial-scale 3D printer to receive NSF certification. From the looks of the company's website, it's ready to move beyond sugar, which may be Brill's limiting factor for the technology. According to the Currant 3D website, while the technology is primarily used to showcase sugar-based products, any powdered food can be printed, including "dehydrated fruits, vegetables, mushrooms, vegetable proteins, flours or spices.
△ 3D printed deviled eggs created by Chef Melin. Photo courtesy of 3D Systems and Merlin
This opens up even greater possibilities for Currant 3D - and just in time. While powdered food 3D printing has wilted under the ownership of 3D Systems and Brill, 3D printed plant and animal proteins are starting to take off. There's no doubt that the Currant 3D team has been following these trends and developing their own products behind closed doors. It is difficult to determine how powdered plant proteins will affect the delicious final product. We know Sugar Lab offers 3D printed nuggets, but the possibilities could expand even further.
