Article by:
Mark Mitchell
Construction robotics is an emerging field in the construction industry that involves the use of robots and automation technologies to perform tasks traditionally carried out by human workers. These robots are designed to improve efficiency, accuracy, and safety in the construction process, while also reducing waste and increasing sustainability. The use of construction robots has been on the rise in recent years, as companies seek to address labor shortages and improve productivity. In this context, robotic tech company FBR (formerly Fastbrick Robotics) has made significant strides with its bricklaying robots, and is now deploying its latest creation, the Hadrian X, to offer Wall-as-a-Service (WaaS) in the USA.
The new robot can go through the entire brick-laying process without human intervention, potentially saving companies millions of dollars in training and benefits. Additionally, the robot creates less waste, helping companies meet their sustainability goals.
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The market for "as-a-Service" offerings is booming, with everything from networks to software and even walls available in this format. Australian robotics firm FBR (formerly Fastbrick Robotics) (ASX: FBR) has signed a deal with UK-based M&G Investment Management, which will purchase 277 million FBR shares for $9.14 million to fund the manufacture and deployment of three new Hadrian X robots in the US. These robots will be built on US truck bases and used to provide Wall-as-a-Service (WaaS) through Fastbrick Americas. The Hadrian X is FBR's latest creation, capable of building a house in a day, laying up to 500 blocks per hour, and the company plans to expand the technology for complete construction activities beyond laying bricks. FBR expects to gain meaningful revenue by offering this solution to builders in the US.
FBR Managing Director and CEO, Mike Pivac, said that the investment would help bring FBR's technology to the US, where it can provide a faster, safer, less wasteful, and cheaper solution to the construction industry. The recent International Code Council (ICC) certification in the US allows FBR to expand its robots to the American market and presents a great revenue opportunity. The company plans to issue 227 million new shares to M&G on March 17, 2023, at $0.033 per share, and M&G has agreed to buy 50 million shares from Mark Pivac and Michael Pivac for $1.65 million, subject to certain requirements. The funds raised will go towards manufacturing and deploying new Hadrian X robots, as well as repayment of outstanding loans.
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