Robotics technology has been increasingly put to use, particularly after Covid-19 pandemic. The commercial use of robotics in almost all sectors is being accelerated. ASX offers many Robotics Companies to Invest in.
FBR Limited (ASX: FBR)
Robotic technology company FBR Limited announced having received confirmation from CRH Ventures that its first next-generation Hadrian X® had successfully met their requirements.
Following testimony from an independent structural engineer, with the completion of Site Acceptance Testing at the Fort Myers facility in Florida, United States, FBR will receive non-refundable payment from CRH Ventures of US$600,000 under Demonstration Program agreement.
The Demonstration Program requires FBR to construct the external walls of five to ten single-storey houses employing the next-generation Hadrian X®, with construction of the first house to commence shortly.
The Demonstration Program will be considered complete when FBR completes construction of its five houses plus up to five houses added to the program by CRH Ventures, with all houses to be certified by an independent structural engineer. When the Demonstration Program is executed, FBR will receive a payment of US$400,000 from CRH Ventures under the Demonstration Program agreement.
FBR Limited, is one among Robotic Stocks to Watch. It had provided its quarterly update as of 30 June 2024, highlighting several key developments. Construction activities progressed steadily during the quarter at the St James project, with completion of the ground floors of eight townhouses and preparations underway to proceed with the second storey.
Financially, FBR drew down $2.47 million from its revolving R&D tax loan facility with FC Capital during the quarter, reflecting ongoing investment in research and development initiatives. Customer receipts for Wall as a Service construction activities totaled A$131,000 for the June quarter, indicating initial traction in revenue generation from this segment.
As of the end of the quarter, FBR reported a cash balance of A$3.74 million. In a strategic move to expand its market presence, FBR commenced trading on the OTCQB Venture Market under the ticker symbol "FBRKF".
On 8 July 2024, the first next-generation Hadrian X® construction robot came in the United States. After completing the necessary customs clearance and unloading procedures, the robot will be transported to a facility located in Fort Myers, Florida. This milestone signifies a pivotal advancement in introducing advanced robotic construction technology to the U.S., marking progress towards implementing the Hadrian X® in construction projects across America.
Simultaneously, FBR continues to advance production of additional next-generation Hadrian X® units. The imminent arrival of the first U.S. truck chassis in Australia signifies progress towards assembling and commissioning the inaugural U.S.-spec Hadrian X® unit.
Source: Company’s Report
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