- FBR (FBR) has entered a trading halt ahead of a capital raise announcement
- The robotic technology company, formerly known as Fastbrick Robotics, develops stabilised robots for the construction industry
- The Hadrian X robot can be mounted onto various vehicles and machinery and provides a revolutionary way to lay bricks
- FBR’s focus for this year has been on forming joint ventures, expanding its portfolio with new technologies, building more Hadrian X robots and testing for next generation robots
- The capital raise will likely support one or more of these goals, however, this has not been explicitly stated
- Company shares last traded for 7.6 cents on Friday, August 14
FBR (FBR) has entered a trading halt ahead of a capital raise announcement.
The company is finalising the details of its upcoming capital raise and expects the announcement will be made to the market before the commencement of trading on Wednesday, August 19.
The robotic technology company, formerly known as Fastbrick Robotics, develops stabilised robots for the construction industry.
Its revolutionary bricklaying robot, Hadrian X, is a unique machine that can be mounted over different vehicles for transportation to and from sites for building works. Hadrian X measures movement caused by wind, vibration and inertia and counteracts it to stabilise in real-time using advanced algorithms.
FBR’s focus this year has been forming wall-as-a-service joint ventures with key organisations, expanding its intellectual property portfolio with new technologies, building more Hadrian X construction robots and continuing testing for future Hadrian X models.
Finally, the company wanted to promote Hadrian X at the global Expo2020 Dubai event. Unfortunately, however, this has been postponed until next year due to COVID-19.
Company shares last traded for 7.6 cents each on Friday, August 14.