Join our daily newsletter At The Bell to receive exclusive market insights
HotCopper forums’ smallcap favourite FBR Limited (ASX:FBR) has announced a collaboration with Samsung Heavy Industries (SHI) after demonstrating its robotic house-building tech to SHI officials in Perth.
SHI is one of Korea’s largest shipbuilders – not homebuilders – but FBR reports it submitted a ‘technical and engineering study’ which has SHI’s interest. But to date, the company has yet to step up into a more binding deal.
“SHI has recognised FBR’s expertise and success in the development and implementation of long-boom automated robotics in outdoor environments and has approached FBR to undertake a joint development of automated solutions in the shipbuilding industry,” the company wrote on Wednesday.
FBR reportedly modified one of its ‘Hadrian X’ long boom robotic assets, to presumably demonstrate capacity to assist with shipbuilding.
If it’s a deal that pulls off, it could change the trajectory of FBR. Samsung’s SHI division builds not only ships (crude tankers and freighters) but also offshore oil and gas assets – think floating platforms and drillships.
“FBR is delighted to be collaborating with SHI to automate its manufacturing processes with the use of our world-leading [technology,]” FBR CEO Mike Pivac said.
“This is potentially a very significant adjacent use case … our existing AI vision and QC systems and our shuttle delivery system that has been so successful in the bricklaying application.”
Whether or not Pivac’s vague pointing to AI is enough to sway SHI – or investors – long-term remains to be seen. But the news was enough to see shares jump 12.5% in the second hour of Wednesday morning trades.
FBR last traded at 2.3cps.
Join the discussion: See what HotCopper users are saying about FBR Ltd and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
