These 3D-printed houses can be reportedly built within 24 hours and will cost less than $4,000 (roughly Rs. 2.6 lakh).
With this, the companies aim is to help solve the housing problem in developing nations.
3D-printed homes will be single-storey, 600-800 square feet in size
Currently a prototype, the envisioned 3D-printed end-product is a single-storey, 600-800 square feet home that is built out of cement using Icon's Vulcan 3D printer.
The company assured that the low-cost home is built using "cutting-edge materials tested to the most recognized standards of safety, comfort, and resiliency."
It is currently in the process of completing its design and material testing.
First 3D-printed homes to be built in El Salvador
Further, the 3D-printed home can reportedly be built under "unpredictable constraints" like limited water, power, and labor infrastructure.
The company will also use "nearly zero" waste production methods and take feedback from people to customize the product.
According to reports, the first project to be undertaken will be to build a community of 100 homes in El Salvador in 2019.
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1.2 billion people don't have adequate housing: Report
According to a 2017 report by the World Resources Institute's Ross Center for Sustainable Cities, 1.2 billion city-dwellers across the world don't have access to affordable and secure housing.
Notably, New Story is backed by start-up accelerator Y Combinator. Its primary goal is to build sustainable communities that offer education, basic infrastructure, and income opportunities.
Local labor to be employed during construction
The two companies will also collaborate in terms of how the 3D-printed homes will be designed. According to Icon, it will also employ local labor to operate the machines during the construction of the houses.