- Robotic technology company FBR (FBR) signs term sheet with GP Vivienda to supply wall-as-a-service using the company’s construction robot Hadrian X
- The term sheet is for up to 5000 homes in Mexico and is subject to a number of milestones that must be completed within the first 24 months
- FBR will also supply all associated retaining walls and other brick and block structures on one or more greenfield residential development sites in Mexico
- On the market this morning, FBR is up 30 per cent and is trading at 5.2 cents per share
FBR (FBR) has executed a term sheet with GP Vivienda to supply wall-as-a-service (WaaS) for up to 5000 homes in Mexico, using its construction robot Hadrian X.
WaaS is the servitisation and digitalisation of the old way of selling bricks and manual bricklaying labour separately and is sold as a fixed price. It supplies the block and robotically constructs walls onsite to the precise specification of a digital architectural plan.
Subject to a number of milestones that must be completed within the first 24 months, FBR will supply its services for between 2000 and 5000 homes in Mexico.
FBR will also supply all associated retaining walls and other brick and block structures on one or more greenfield residential development sites in Mexico within five years of completion of the milestones.
These milestones includes the Hadrian X receiving confirmation the technology is compliant with all relevant codes and regulations in Mexico and completing a pilot building program of 20 homes in Mexico.
For each site on which the Hadrian X is deployed, the parties will commit to the supply of WaaS on at least 100 homes.
Under the term sheet, FBR and GP Vivienda will deal exclusively to each other in Mexico.
FBR’s Managing Director and CEO, Mike Pivac, was pleased to have signed a term sheet to build the company’s first homes in North America.
“The volume of work contemplated under the term sheet will give us a great start from which to grow our business in North America, as there will be a strong pipeline of work to complete as soon as we deploy,” he said.
On the market this morning, FBR was up 30 per cent and is trading at 5.2 cents per share at 11:12 am AEDT.