Building is tenuous. The time consuming and resource heavy construction process is expensive and is long overdue for a shake up. In a world where automation regions supreme, West Australian robotics company FBR (ASX: FBR) is giving building a modern spin.
Their Hadrian X bricklaying robot builds structural walls efficiently, economically and sustainably compared to traditional manual methods. FBR offers their ‘Walls-as-a-Service’ to builders on demand. One such builder in Mexico is taking FBR up on their new age approach, executing a term sheet for the construction of between 2,000 and 5,000 homes.
Having built over 115,000 homes, GP Vivienda is the housing division of Grupo GP, one of Mexico’s largest construction and real estate development companies.
Despite being subject to certain milestones within the first 2 years, the plan is for FBR to build the homes and supply all retaining walls and other brick structures on new development sites. A pilot program of 20 homes has been organised. Should Hadrian X built structures meet all compliance requirements for the country and the pilot program goes off without a hitch, FBR will be firmly in the mix to secure the full project contract.
Having already built four townhouses for GP Vivienda in August of this year, the companies have agreed to binding exclusivity for the first 24 months, giving FBR a good chance to secure ongoing work in the region if all goes well.
Thinking broader than this project, FBR is seeing this as a way to really establish their Wall-as-a-Service offering in North America to service new markets.
Managing Director and CEO, Mike Pivac said: “We are excited to have a term sheet in place to build our first homes in North America under competitive commercial terms. 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.”
Samantha Freidin is a business journalist at Emerald Financial whilst also completing a Masters of Marketing and Digital Communications at Monash University.
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