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Katerra receives $865 million to fund
massive cross-laminated timber plant
Katerra, a high-tech construction firm, has secured $865
million in funding from SoftBank Vision Fund. That
money will go toward ongoing projects in the U.S., like the
company’s planned cross-laminated timber plant in Washington, as well as research & development activities.
Katerra says its upcoming 250,000-square-foot Washington plant will help scale up U.S. production of CLT so
that the material can be more broadly adopted across the
construction industry. Katerra’s manufacturing presence
in the region will provide hundreds of jobs and stimulate
additional jobs through the larger supply chain and associated industries, including design, engineering, and
construction. More than 150 construction-specific jobs will
be created to build the CLT factory.
Cross-laminated timber, or CLT, is a key ingredient in
the so-called timber towers - multi-story high rises built
of wood, some reaching 18 stories or higher. Katerra says
CLT is valued due to its low carbon footprint and strength.
Katerra is already applying its high-tech construction
techniques to manufacture building sections in an existing Phoenix factory. – R.D.