13
March
2023
Having recently achieved International Code Council certification for the USA, this Agreement accelerates FBR’s Wall as a Service® expansion into the market.
FBR funded to manufacture three Hadrian X robots for the USA
Big News! FBR announces strategic agreement with U.K. based shareholder M & G Investment Management to fund the manufacture and commercial deployment of three additional next-generation Hadrian X® robots designed specifically for expedited use in the USA.
The three new Hadrian X® robots will be built on USA truck bases and will then be immediately deployed to offer Wall as a Service® via the existing Fastbrick Americas LLC entity.
FBR Managing Director and Chief Executive Officer, Mike Pivac said:
"The Agreement with M & G provides FBR with the funding to manufacture another three next-generation Hadrian X® machines to bring our technology to the USA, to pursue meaningful revenue for FBR with builders who have been eagerly anticipating the arrival of the Hadrian X®.
With one Australian-spec next generation Hadrian X® unit already assembled and laying its first blocks, another mid-assembly, and these three additional USA-spec Hadrian X® units, we are building a fleet of Hadrian X® robots that will transition the construction industry toward a more sustainable footing, by providing a faster, safer, less wasteful, more accurate and, ultimately, cheaper solution.
Having recently achieved International Code Council certification for the USA, the Agreement accelerates FBR's Wall as a Service® expansion into the market. FBR sees a compelling revenue opportunity there as the developer, producer and operator of the world's most advanced and capable construction robots, and we are well positioned to begin digitalising the high volume building model in the USA.
The support of M & G will enable us to enter a major market poised to transition its reliance on human labour in the construction industry to robotic construction solutions."
Read the full ASX announcement at our Investor Centre.