International Boat Industry: Supersede secures US$10m in seed funding

Arizona, US-based sustainable building materials manufacturer Supersede announced this week that the company has secured US$10m in funding toward a new production facility for its Supersede Marine Board composite.

The newly closed funding round delivered the firm with $5m in convertible debt and a further $5m in senior secured equipment financing, following cash injections from a major US building products distributor, circular economy-focused firm Closed Loop Partners and multiple angel groups and individual investors.

The successful close of a $10m funding round will allow panel manufacturer Supersede to triple its output with a second production plant

The new funding will back the construction of a new fabrication facility for the firm’s Supersede Marine Board, touted as a high-performance, cost-effective and recyclable replacement for marine-grade plywood. The addition of a second fabrication plant is expected to allow the firm to triple its output, while creating 50 new jobs.

“The Supersede Marine Board is the first real replacement to marine-grade plywood that meets the demands of marine and outdoor construction, and solves the core challenges faced by manufacturers today, from rot, warping, and inconsistent supply to toxic exposure risks for workers,” said Supersede co-founder and CEO, Sean Petterson. “This funding is a validation of the product-market fit and growing customer demand, and it’s enabling us to scale faster than we imagined, including building a second manufacturing facility that will triple our production capacity and add over 50 new jobs.”

Supersede introduced its product line at the 2024 IBEX in Tampa, where it won an innovation award in the Boatbuilding Methods & Materials category.

Supersede’s Marine Board product is positioned as a lighter, more sustainable alternative to traditional marine plywood

“As supply chain instability and material costs increase, particularly amid rising trade barriers, Supersede is positioned to disrupt the US market for structural wood panels, valued at over $30bn,” added Petterson. “Marine-grade plywood has long been the standard for these sectors, but the material comes with serious drawbacks: it’s reliant on volatile resource extraction, it is prone to water damage, it contains formaldehyde-based binders, and it lacks an established end-of-life pathway, often ending up in landfills.”

Supersede’s panels solve these problems, he says, with a 100% waterproof, rot-proof, and recyclable drop-in replacement for marine-grade plywood that integrates seamlessly into existing manufacturing workflows. Using recycled polypropylene, the company’s patented extrusion process yields durable, high-strength structural panels that are said to outperform traditional plywood in water resistance, fastener retention, compressive strength, and durability.

Petterson says the company expects to announce a selected site for its new production plant later this year.