The FBR Ltd (ASX: FBR) share price went up 20% after the robotics construction business had an exciting announcement to the market.
FBR designs, develops and builds dynamically stabilised robots, in other words a truck with a robotic arm that can build a wall much quicker than a team of a bricklayers.
FBR’s Exciting Announcement
The company announced that it has created a joint venture with Brickworks Limited (ASX: BKW) called Fastbrick Australia to provide a ‘Wall as a Service’ (a play on Software as a Service (SaaS)) for residential construction.
Brickworks has supplied the first shipment of concrete masonry blocks, specifically designed for Hadrian X, the truck robot.
Brickworks will supply the materials for Hadrian X and have the exclusive right to supply Fastbrick Australia and FBR will have exclusive rights to supply laying services within Australia for the use of Hadrian X. This will likely be the first operating revenues of the commercialisation of FBR’s technology.
FBR CEO Mike Pivac said: “We are very pleased to have a joint venture partner in Australia with the reputation and scale of Brickworks to jointly offer Wall as a Service to the Australian market.”
2 ASX Growth Shares Even More Exciting Than FBR?
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