FBR prepares to deliver a quantum leap for the construction industry
Robotic technology company FBR Limited (ASX: FBR) is potentially on the verge of delivering a “quantum leap” for the construction industry, after successfully proving the capability of its “game-changing” Hadrian X construction robot – a fully autonomous machine that can build an entire house in under 3 days.
This morning, FBR announced that it had successfully demonstrated its robotic home building technology by building a 180 square metre house, consisting of 3 bedrooms and 2 bathrooms in less than three days – a technical milestone set by FBR back in 2015.
FBR has also passed what’s known as Factory Acceptance Testing (FAT), another milestone which validates the technology as being able to complete structures in accordance with strict Australian building standards which were verified by an independent civil and structural engineering consultancy group.
“We now have the world’s only fully automated, end-to-end bricklaying solution, with a massive market waiting for it,” said Mike Pivac, CEO of FBR.
Mr Pivac also confirmed that with the company’s key production milestones having been met, its “disruptive and game-changing technology” is on the cusp of being commercialised.
“We now begin the next exciting phase for the company, as we execute our global commercialisation strategy to capitalise on the significant demand for our technology,” he said.
The Hadrian X has demonstrated that it can construct three key structures with a full combination of brick sizes, cuts and laying configurations.
More specifically, factory acceptance testing proved that Hadrian X is capable of building a 2-course structure, an 11-course pillar structure to demonstrate the Hadrian X’s ability to build from slab to cap height, and, a 2-room structure that definitively demonstrates Hadrian X’s ability to build a larger structure on a slab from a 3D CAD model with the required accuracy, as stipulated by building standards.
“We are excited by the performance and results, given this work was completed in test speed and for the very first time. This points to the massive potential for the technology and FBR’s ability to shape the way the construction industry operates in the future,” said Mr Pivac.
The latest news also means that FBR will now pull the trigger on its previously-announced share issuance to internal staff and key stakeholders.
FBR has confirmed that after obtaining independent legal advice, its Board has decided that reaching its latest milestones warrants the issuance of 6,600,000 shares in accordance with the company’s performance rights plan first approved by shareholders back in October 2015.
Additionally, FBR also plans to issue a further 166.6 million Class A performance shares relating to the acquisition of Fastbrick Robotics under its prospectus at the time of its listing – as approved by shareholders on 6 October 2015.
“In determining whether the performance condition for the conversion of the performance shares to ordinary shares has been met, the independent members of the Board are satisfied that the team has achieved what it set out to do, meeting all the necessary criteria. As such, I am pleased to be awarding the performance shares to both staff members and the founders of the company in recognition of all their hard work bringing the Hadrian X to life,” said Mr Richard Grellman, chairman of FBR.