Fastbrick Robotics Ltd

Signed Strategic Collaboration Agreement with GP Vivienda: Fastbrick Robotics Ltd (ASX: FBR) inked a strategic collaboration agreement (SCA) with Mexican developer GP Vivienda. The objective of the SCA is to examine potential pilot testing programs for FBR’s Hadrian X construction robots in Mexico along with an opportunity for future applications of FBR’s core Dynamic Stabilisation Technology (DST). Following this, the company outlined that the assembly of the Hadrian X was completed and is now ready for extensive testing of its DST and Factory Acceptance Testing over the upcoming period. According to the management, the Hadrian X presents a solution to Mexico’s acute shortage of well-constructed affordable homes, with access to the necessary services like schools, parks, and commercial areas. Further, the analysis of the Mexican market for the Hadrian X represents a theoretical need for approximately 700- 750 Hadrian X construction robots which will replace all bricklaying labour in Mexico in 2018.


2018 Milestones (Source: Company Reports)

On the other hand, the company has recently renewed the contracts of CEO Mike Pivac and CTO Mark Pivac, aiming to secure their valuable leadership, vision, energy, and experience as FBR enters the most critical stage of the Company’s history. Further, the company appointed Aidan Flynn as CFO to strengthen the executive team based on respective 20 years of corporate experience. We expect that these key appointments will support growth of the business in next phase. Besides this, the Company has rebranded from ‘Fastbrick Robotics’ to ‘FBR’ to ensure its ongoing branding which is aligned with the emerging structure and Company strategy. It might be better to wait and watch out the stock for further performance drivers.

 
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