FBR Limited, an ASX-listed robotic technology company, has signed a demonstration program agreement with CRH Ventures America to jointly construct up to 10 houses in the United States with FBR’s Hadrian X construction robot.
The demonstration program is part of a suite of agreements signed by FBR with CRH Ventures America, a subsidiary of one of the largest concrete block suppliers in the United States.
The program aims to test and evaluate the use of the Hadrian X to supply Wall as a Service in the United States.
The agreement requires the provision of one Hadrian X built to Australian specifications to complete the test builds.
An exclusive option was also awarded to CRH Ventures, allowing it to enter into an exclusive joint venture for the supply of Wall as a Service in the US following the achievement of the demonstration program’s milestones.
Following the completion of a site acceptance test on the Hadrian X unit, an affiliate of CRH Ventures and FBR subsidiary, Fastbrick Americas Engineering, will conduct a demonstration program in Florida consisting of the construction of the external walls of between five and 10 single-storey houses using concrete blocks supplied by an affiliate of CRH Ventures.
The joint venture will establish a USD 40 million (AUD 61.1 million) rolling loan facility and issue a binding but conditional purchase order for 20 Hadrian X units at USD 2 million (AUD 3.1 million) each.
The first three Hadrian X units in the order will be delivered as soon as they are available. Meanwhile, the remaining 17 units will be supplied in four instalments of three units and one instalment of two units.
“The agreements with CRH Ventures and its affiliates are another significant step in FBR’s commercialisation journey and demonstrate a clear path to scale and profitability with the commencement of the joint venture,” said Mike Pivac, managing director and CEO of FBR.
“We have set a clear strategy for the Company to enter the United States market, and we will be doing so with the assistance of one of the largest concrete block manufacturers in the country. We are excited to arrive in a new international market to showcase the capabilities of our technology and commence our scaling plan with the financial and operational support of one of the world’s leaders in building materials production.”
