Sign up Australia
Proactive Investors - Run By Investors For Investors

Fastbrick Robotics Ltd and Caterpillar teams up for robotic bricklaying

The global addressable market estimated to be $100 to $200 billion.
Fastbrick Robotics Ltd and Caterpillar teams up for robotic bricklaying
Hadrian X commercial prototype is on track for CY2017 delivery

Fastbrick Robotics Ltd (ASX:FBR) has signed an agreement with Caterpillar Inc. (NYSE:CAT) regarding the development, manufacturing and sales of Fastbrick’s robotic bricklaying technology.

The company’s shares were trading 8% higher intra-day, at A$0.135.

Fastbrick’s “Hadrian X” bricklaying robot can lay up to 1,000 bricks per hour using a boom which is mounted on a truck.

The robot can handle different brick sizes and complete all of the cutting, grinding, milling and routing of the bricks prior to laying.

The construction of Hadrian X commercial prototype continues to advance and is on track to be competed in CY2017.

The agreement with Caterpillar establishes a strategic alliance board with representatives from both the companies developing a framework to offer this technology to Caterpillar’s construction customers.

The agreement has an initial 12-month term during which Fastbrick has agreed to deal exclusively with Caterpillar for the development and potential commercialisation of the technology.

Simultaneous with the signing of the agreement, Caterpillar, through a wholly owned subsidiary, is investing USD$2 million in Fastbrick via a placement of shares at A$0.10 each.

Caterpillar will also have an option to invest a further USD$8 million in Fastbrick at an issue price of A$0.20 per share.

With 80% of the cost of brick construction attributed to manual bricklaying labour, the global addressable market for the Hadrian X is estimated to be $100 to $200 billion.

View full FBR profile View Profile

Fastbrick Robotics Timeline

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use