A series of announcements over the last little while about agreements for actually building walls and houses for actual money have culminated in another capital raise and dilution:

FBR Limited (‘FBR’ or ‘the Company’) is pleased to announce that the Company has received firm commitments from institutional and sophisticated investors to raise A$10 million via the issue of 222,222,222 shares at 4.5c, representing a 14% discount to the 5-Day VWAP and an 11% discount to the 30 day VWAP.

FBR’s Managing Director & CEO, Mike Pivac: “We are pleased to have attracted support from both existing and new institutional and sophisticated investors to help us progress the commercialisation of FBR’s technology. The funds raised will position the Company well to execute on and expand its current committed work pipeline and to capitalise on commercial opportunities that are frequently presenting themselves globally, particularly in North America and Europe.”

[Disc:  held]

At last! Some actual contracted revenue.  Interesting to see that FBR revenue for this deal is 10% of development costs.  Be good to understand the actual run costs involved in delivering that $500k of revenue.

FBR signs multi-home Wall as a Service contract

Tuesday, 5 October 2021 – Robotic technology company FBR Limited (‘FBR’ or ‘the Company’) is pleased to advise that the Company has entered into its first multi-home Wall as a ServiceTM contract to supply Wall as a ServiceTM to a third-party residential property developer using the Hadrian X® construction robot.

The contract pertains to a development site in St James, Western Australia, under which FBR will construct the slab, footings, structural walls, second storey slab and roof trusses for eight two-storey townhouses.

Work on the $5 million project will start as soon as practicable after all necessary approvals have been granted, and will be completed at commercial rates with the Wall as a ServiceTM contract value in excess of $0.5 million.

FBR’s Managing Director & Chief Executive Officer, Mike Pivac: “We are pleased to be adding this large project to our pipeline of work, having spent the past 12 months introducing the Hadrian X® into the real-world building environment to validate our game-changing technology with some prominent Western Australian builders. Now that we have demonstrated all the benefits the Hadrian X® provides, we are now going to ramp up the utilisation of our technology, while continuing the development work at our R&D facility.”

FBR will also complete the walls of the second of five house structures in Wellard shortly.

ASX Announcement

Fastbrick Robotics Limited (ASX:FBR)

Highlights

• Mr Richard Grellman AM appointed Non-Executive Chairman at FBR

• Ms Shannon Robinson retires from the Board

Friday, 13 July 2018 – Robotic technology company Fastbrick Robotics Limited (ASX:FBR)(‘FBR’ or ‘the Company’) is pleased to announce the appointment of Mr Richard Grellman AM as its new Non-Executive Chairman, following the retirement from the Board of Ms Shannon Robinson.

To read the ASX announcement, please click here.

ASX Announcement

Fastbrick Robotics Limited (ASX:FBR)

Highlights

• Mr Steve Pierz appointed Chief Innovation Officer at FBR
• Mr Pierz joins FBR after 29 years at Caterpillar in engineering and leadership roles
• Establishment of FBR office in United States to lead North American expansion

Tuesday, 10 July 2018 – Robotic technology company Fastbrick Robotics Limited (ASX:FBR)(‘FBR’ or ‘the Company’) is delighted to announce that Mr Steve Pierz has been appointed to the position of Chief Innovation Officer with FBR, based in the United States.

ASX Announcement

Fastbrick Robotics Limited (ASX:FBR)

Highlights

• FBR and Caterpillar Inc. agree to extend the term of the current Memorandum of Understanding
• FBR and Caterpillar sign New Option Deed granting Caterpillar a New Option
• Subject to FBR shareholder approval, the New Option gives Caterpillar the ability to subscribe for shares in FBR to the total value of approximately US$10 million at a subscription price of A$0.24, expiring 31 January 2019
• Exercise of New Option conditional upon Caterpillar signing Strategic Alliance Agreement with FBR

Monday, 2 July 2018 – Robotic technology company Fastbrick Robotics Limited (ASX:FBR) (‘FBR’ or ‘the Company’) is pleased to announce that it has agreed to extend the term of the Memorandum of Undertanding (‘MOU’) with Caterpillar Inc. (NYSE:CAT) that was due to expire on 30 June 2018. The parties have agreed to extend the term of the MOU until 31 January 2019, in order to allow FBR additional time to demonstrate its technology to Caterpillar in line with the original intentions of the MOU and FBR’s current development schedule.