FBR Investor Presentation
Released
Released
Announcement PDF
Capital Raising
Investor Presentation
FBR Limited
(ASX:FBR | OTCQB:FBRKF)
Catalysts Ahead
De-risking Completed
• Successful completion of Site Acceptance Test in Florida,
triggering US$0.6m payment to FBR
Hadrian X® successfully deployed from Australia to facility in Fort
• Announcement of builder participants in the Demonstration
Program conducted with global building materials supplier
CRH
Leading innovator in autonomous construction technology, having
• US JV Option with CRH Ventures, if exercised, provides initial
20 machine purchase order and US$40m revolving loan
facility to support the manufacture of up to 300 Hadrian X®
robots
• Wall offtake agreements with key builder clients in Florida
• Scaling of Hadrian X® fleet in Florida
• Large global market opportunity with macroeconomic
tailwinds as housing demand outpaces supply and labour
shortages escalate
Myers, Florida with engineering inspection and recalibration
underway
developed one of the most advanced, fully-mobile, highway-capable
construction robots in the world
Successfully completed Factory Acceptance Testing and
Preliminary Site Acceptance Testing in Australia
Compliance completed with ICC (global standard), NCC (Australia),
Florida State and Texas
Significant ‘first-mover’ technological and commercial advantage
backed by strong 100% owned global IP portfolio comprised of 41
patent families, 143 patents granted and 107 patents pending
Proven commercial capability through completed projects including
mixture of large commercial properties, low-density residential
homes and multi-storey medium-density townhouses, with a further
eight medium-density townhouses under construction presently
Partnered with leading global industry participants
A strong, capable and experienced team, underpinned by worldleading expertise
2
US Activities - Overview
• CRH Ventures purchased an option to form U.S. joint venture
with FBR for US$2.0m, paid in non-refundable tranches
• Demonstration program involves completion of a Site
Acceptance Test in Florida and construction of external walls of
5-10 single storey house structures
• CRH Ventures may exercise option to form JV any time up until
45 days post-completion of 5-10 houses of demonstration
program
• Upon formation of JV, CRH Ventures will provide JV with a
US$40m revolving loan facility and an initial purchase order for
20 Hadrian X® robots valued at US$40m
• Pathway to 300 Hadrian X® robots set out with purchase order
tranches that set base expansion rate for the JV and can be
accelerated by agreement to meet the needs of the market1
Exclusive U.S. Demonstration Program & JV Option
• CRH Ventures, a subsidiary of CRH plc (NYSE:CRH, US$55bn market cap)
• CRH plc generates multi-billion-dollar revenues, demonstrating a strong
customer base and global market footprint
• A market leading supplier of building materials with established operations
globally including in the U.S. and Europe, and further expansion into
Australia through recently completed $2.1bn acquisition of Adbri Ltd
• A U.S. JV providing WaaS® will generate new revenue streams and
differentiated products relative to existing business model:
− Revenue from delivery of erected wall (WaaS®), not just manufacture of
blocks
− Delivery of internal masonry walls, competing strongly with timber
− Competitive advantage and efficiency gains through use of automation
and robotics
− Delivering customers real-time advantages and cost savings
Completion of
Demonstration
Program
US$400,000
Est. Aug/Sep ‘24
completion
Passing SAT
US$600,000
Early-mid August
2024 completion
Passing FAT
US$800,000
(received)
Execution of Agreements
US$200,000
(received)
Non-refundable Demonstration Program Payment Schedule
1. See slide 16 for rubric outlining details of pathway to 300 Hadrian X® robots in the agreement
Payment received
To be received upon completion
3
U.S. Demonstration Program &
Joint Venture Option
Poised to deliver a Demonstration Program with a leading
global building materials company
4
Factory Acceptance Test
• Designed to test the speed and accuracy of the Hadrian X, while
assessing reliability and capability to achieve sustained lay rates
• Hadrian X® completed a 751-block structure in 2 hours and 16
minutes, achieving sustained lay rate of 330bph, significantly faster
than the 285bph required
• Larger format block would allow completion in ~55min, tripling
effective lay rate
• Following FAT, further optimisation work undertaken to improve
reliability and
FAT Requirement
Achieved
Lay speed (bph)
285
330
Blocks
751
751
Besser Block
Besser Block
2:38:00
2:16:00
Block type
Time
• Prior to shipping, Preliminary Site Acceptance Test outdoors at FBR
premises, achieved requirements
Factory Acceptance Test (Complete)
• Completion of indoor test build at FBR’s Perth facility, at
effective lay rate of at least 285bph
• Utilising only tablet to control Hadrian X® and a crew of no
more than three people
• FBR completed FAT at effective lay rate of 330bph
‘Person in zone’ (PIZ) operator inspects
blocks that have just been laid
Outdoor SAT-style build completed prior
to Hadrian X® leaving Perth
5
US Deployment
• Hadrian X® arrived in US on 8 July 2024, and following receipt of
customs clearance was transported to FBR facility in Fort Myers
• Approval of requisite permits received from US Environmental
Protection Agency (EPA) and National Highway Traffic Safety
Administration (NHTSA)
• FBR team deployed to Fort Myers, undertaking recalibration of Hadrian
X® ahead of Site Acceptance Testing and Demonstration Program
Ro/Ro ship leaves Port of Fremantle bound for United States
Liebherr facility in Miami, Florida
FBR Team unpacks Hadrian X® at facility in Fort Myers, Florida
6
Site Acceptance Test
• SAT to be undertaken once Hadrian X® has arrived at facility in
Fort Myers and recalibration activities completed
• SAT will test Hadrian X® speed, accuracy and reliability outdoors,
while highlighting versatility of the technology and ability to
comply with building codes in Florida
• A key tenet to the attractiveness of FBRs technology is ability to
seamlessly integrate into existing construction processes,
meaning that customers benefit from automated construction
without sacrificing speed, quality or cost, and without onerous
changes to their supply chain or build process
Site Acceptance Test (SAT)
•
Requires completion of same test build as Factory Acceptance Test
(751 block structure), while incorporating the use of bond beam
blocks, outdoors in Florida at effective lay rate of at least 285bph
•
Utilising only tablet to control Hadrian X® and a crew of no more
than three people
•
Confirmation from independent structural engineer that walls of
build are consistent with design and meet applicable building
standards
• Successful completion of SAT results in US$600,000 payment to
FBR from CRH Ventures, in-line with Demonstration Program
agreement
Bond beam blocks are used to provide additional structural
strength and are a common feature in masonry construction in
the south-eastern state of the US. Bond beam blocks contain a
recess to house reinforcement bar that is then secured in
place with mortar/grout
Source: International Masonry Institute
7
Demonstration Program
• 5-10 house demonstration program to be undertaken in locales of
Babcock Ranch and Cape Coral, Fort Myers, Florida
• 3 key builders identified and currently finalizing terms and
planning approvals
Demonstration Program Recap
• Demonstration Program consists of FBR constructing up to 10 houses,
five of which FBR will choose, and up to five houses which CRH is
responsible for selecting
TAD build file of a demonstration program home to be built
• Contracts entered into in respect of builders selected by an affiliate of
CRH Ventures must be submitted to FBR within eight weeks postcompletion of SAT, with a requirement that any contracts submitted
within this time frame must then have concrete slabs in place within a
further eight-week time frame
• Demonstration Program deemed complete when FBR completes
construction of its five houses and any houses built for builders selected
by an affiliate of CRH Ventures
Babcock Ranch
Cape Coral
• Completion of Demonstration Program triggers a US$400,000 payment
to FBR and if the JV Option has not already been exercised by CRH
Ventures, a 45-calendar day period begins before the Option expires
Operational hub
8
JV Option Exercise
• Upon exercising of JV Option CRH provides JV with US$40m revolving
loan facility to fund Hadrian X® purchases from FBR, and initial
purchase order for 20 Hadrian X® robots (up to $US40m of revenue to
FBR)
• FBR to fund 51% of JV start-up costs only, expected to be ~US$2.0m
with remainder of working capital to be funded via CRH loan facility
and ongoing US WaaS revenue
• Each JV partner entitled to two Board members each; CEO (appointed
by the Board) to oversee day-to-day operations
FBR grants JV exclusive
Hadrian X® supply rights
covering U.S.
Majority of FBR’s global
annual Hadrian X®
manufacturing capacity
reserved for JV for first
30 units / year
(includes licensed OEMs)
US$40m revolving debt
facility for JV to fund
Hadrian X® purchases
from FBR
FBR supplies Hadrian X®
operator training and
machines maintenance
services to JV for fixed
price
• As soon as practicable post-commencement of JV, FBR to swap out
the first Australian-spec Hadrian X® unit with a U.S.-spec Hadrian X®
unit at its cost
• Initial operation will commence in Florida
• Recurring maintenance revenue anticipated. FBR will provide fixed
price Hadrian X® maintenance & repair services and personnel training
services to the JV at a rate of US$220,000 per Hadrian X® per year,
indexed to US CPI from 31 December 2023
• A CRH affiliate to preferentially supply blocks to the JV
49%
ownership
US Joint Venture
Entity
51%
ownership
9
U.S. Market Entry
FBR poised to enter its largest target market and the largest
low-rise residential construction market globally
10
Why the U.S.?
• One of the largest low-rise residential construction markets in the world
• FBR’s technology could vastly improve the output and sustainability of the
construction industry
• Moody’s estimates a minimum of approximately 1.5 million new homes per year
just to meet demand in the U.S.1
• A chronic undersupply of new housing since the Global Financial Crisis, leaves
an estimated deficit of up to 20 million homes
• Builders are seeking to reduce costs and improve margins, however, material
cost and availability of labour is continuing to be a significant challenge
U.S. Builder Completions – Top 10 (2022-23)
Completions
2022
Completions
2023
D.R. Horton
82,930
90,777
Builder
Lennar Corp.
68,817
73,087
PulteGroup
29,111
28,603
NVR
22,732
20,662
Meritage Homes
14,106
13,976
KB Home
13,738
13,236
Taylor Morrison
12,647
11,495
Clayton Properties
11,751
9,957
Toll Brothers
10,515
9,597
Century Communities
10,594
9,568
TOTAL
276,941
280,958
Source: (1) Moody’s Analytics (2023), FRED, (2) IZA Institute of labour Economics (2022), NAHB (2022), Census Bureau (2023), Madison Trust Company
11
Florida and Texas are among the largest and fastest growing residential construction markets in the U.S.
Initial Target Markets
U.S. Housing Supply Shortfall
• High concentration of new build opportunities in Florida and Texas
• Ready access to materials and infrastructure
• Existing high-volume market exclusively masonry construction,
which is primed for robotic disruption
• Areas prone to hurricanes/severe weather conditions and high
wind loads (southern states of the U.S.) require masonry structures
Undersupplied
Severely undersupplied
• Between July 2022-23, Florida and Texas experienced increased
net migration (domestic and international) of +373k and +315k
people respectively1
Initial target markets
Top 5 States (new residential builds)
2018
2019
2020
2021
2022
Texas
192.9
209.9
230.5
266.0
263.1
6.4%
59%
Florida
144.4
154.3
164.1
213.5
212.0
8.0%
64%
California
113.5
110.2
106.1
119.4
119.7
1.1%
63%
North
Carolina
71.7
71.3
80.5
94.9
91.9
5.1%
70%
Georgia
59.3
53.8
55.8
67.2
77.2
5.4%
61%
U.S. Total
1,329.0
1,386.3
1,471.2
1,737.2
1,765.3
4.6%
59%
(‘000s)
Source: Moody’s, Census Bureau, NAHB , National Association of Realtors
%
Single
Family
Homes
5 Yr.
CAGR
12
Key Catalysts for FBR Shareholders
Event
Indicative timing
Successful execution of Factory Acceptance Test (FAT)
Completed
Transport of Hadrian X® to the US
Completed
Successful execution of Site Acceptance Test (SAT) in Florida
August 2024
Formal appointment of builders for Demonstration Program
August 2024
House 1 Build w/CRH - Media/Strategic Stakeholders/VIP
August 2024
VIP Demonstration - Media, Strategic Stakeholders
August 2024
Completion of 10 house Demonstration Program
Aug-Sept 2024
JV Option exercised
Up to 45 days post completion of
Demonstration Program
CRH Ventures Americas to provide US$40m debt facility to Fastbrick Americas JV
At exercise of JV Option
FBR to receive US$40m purchase order for first tranche of 20 Hadrian X® units (of
potential 300 machine order)
Q4 CY2024
Commercial wall offtake agreements with key builder clients in Florida
Q4 CY2024
13
Equity Raising Summary
•
Placement to raise approximately A$12.5 million under the Company’s existing placement capacity under ASX
Listing Rule 7.1A (“Placement” or the “Offer”)
•
Approximately 328.9 million new fully paid ordinary shares in FBR (“New Shares”) to be issued under the
Placement, representing approximately 7.4% of FBR current shares on issue.
•
New Shares to be issued under the Placement at a fixed offer price of A$0.038 per New Share (“Offer Price”),
which represents a discount of 20.8% to the Company’s last traded price on 31 July 2024.
Use of Funds
•
General working capital
Pro forma 30 June 2024 net
cash position at completion
of the raise1
•
A$16.2m
Ranking
•
New shares issued under the Offer will rank pari passu with existing shares on issue.
Lead Manager and
Bookrunner
•
Bell Potter Securities Limited
Offer Size and Structure
Offer Price
1Pro forma reflects cash position as at 30 June 2024 plus the proceeds from the capital raising but excludes costs of the offer, exercise of options since 30 June and the proceeds from sale of Loan Funded Shares announced to the
ASX on 16 July 2024
14
Indicative Timeline
Event
Time (AEST) / Date
Trading Halt
Thursday, 1 August 2024
Announce completion of Placement, trading halt lifted and recommencement of trading
Monday, 5 August 2024
Settlement of Placement
New Shares allotted and commence normal trading
Thursday, 8 August 2024
Friday, 9 August 2024
Note: The above timetable is indicative only and subject to change. Subject to the requirements of the Corporations Act, the ASX Listing Rules and any other applicable laws, FBR Limited in consultation with the Lead Manager, reserves
the right to amend this timetable.
15
Path to 300 Hadrian X®’s in the U.S.
Purchase
Order
Initial
20 Hadrian X®
units
Second
39 Hadrian X®
units
Third
40 Hadrian X®
units
Quantum
Conditions
− US$2.0m each3, US$1.1m deposit, remainder paid on delivery and
completion of SAT
− 3 units delivered ASAP, remaining 17 ordered in batches of 3 (except final
batch of 2 units)
− Annual interest rate, payable quarterly (6-month USD SOFR + 1.5%)
− Additional instalments triggered by:
− 30% gross margin1, 75% utilisation over 6 months for incumbent2 fleet
− 30% gross margin, 50% utilisation rate over 2 months on 3 most
recently delivered units
− US$2.0m each3, US$1.1m deposit, remainder paid on delivery and
completion of SAT
− Ordered in batches of 3 Hadrian X® units
− Annual interest rate, payable quarterly (6-month USD SOFR + 3.0%)
− Hadrian X® units ordered under the same terms and subject to the same
requirements as above
− US$2.0m each3, US$1.1m deposit, remainder paid on delivery and
completion of SAT
− Ordered in batches of 3 Hadrian X® units (except final batch of 1 unit)
− Annual interest rate, payable quarterly (6-month USD SOFR + 4.0%)
− Hadrian X® units ordered under the same terms and subject to the same
requirements as above
− JV granted 40 options to purchase Hadrian X® units in tranches of 5 at
lesser of
− US$2.5m each3; or
− price charged by FBR’s third-party manufacturer
− If JV does not exercise the options for at least 20 Hadrian X® units per year,
all remaining options immediately terminate
Fourth
200 Hadrian X®
units (40
options of 5
units)
1. Gross margin refers to direct revenues and costs incurred at site, and excludes JV overhead, corporate costs, and depreciation of Hadrian X® units
2. Incumbent fleet is the fleet of Hadrian X® units held by the JV minus the three most recently delivered units
3. CPI adjusted
4.Refer ASX Announcement dated 18 January 2024 for further detail
16
Corporate Snapshot
Capital structure
Ordinary shares on issue
4.5b
Average daily volume (last 3 months)
5.5m
Gross cash balance (30 Jun 2024)
$3.7m
Directors & Management
$0.06
140
$0.05
120
100
$0.04
80
$0.03
60
$0.02
40
$0.01
20
Richard Grellman AM
Non-Executive Chairman
Glenn Cooper
Non-Executive Director
Shannon Robinson
Non-Executive Director
Nancy Milne AOM
Non-Executive Director
Shareholders
Mike Pivac
Executive Director – MD & CEO
Brickworks (ASX:BKW)
16.5%*
Mark Pivac
Executive Director – CTO
M & G Investments
12.3%*
Rowan Caren
Chief Financial Officer
Fidelity
9.9%*
Kiel Chivers
Chief Operating Officer
Mark Pivac (Founder)
7.5%
Jonathan Lawe Davies
General Counsel
Mike Pivac (Founder)
2.9%
$0.00
Jul 23
Volume
$205m
Share Price Close (AUD)
Market capitalisation (as at 29/07/2024)
Millions
Share price performance (12 months)
0
Sep 23
*as per last substantial holding notice
Nov 23
Jan 24
Mar 24
May 24
Jul 24
Register
Brickworks
Limited
Institutional
Investors
Board and
Management
Retail
17
For more information contact:
Follow our story
+61 8 9380 0240
investor@fbr.com.au
18
Disclaimer
Important Notice
This presentation has been prepared by FBR Limited. This document contains background information about FBR Limited which is current as at the date of this presentation. The
presentation is in summary form and does not purport to be all inclusive or complete. Recipients should conduct their own investigations and perform their own analysis in order to
satisfy themselves as to the accuracy and completeness of the information, statements and opinions contained in this presentation.
This presentation is for information purposes only. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in
relation to the purchase or sale of FBR Limited shares in any jurisdiction. This presentation may not be distributed in any jurisdiction except in accordance with the legal
requirements applicable in such jurisdiction. Recipients should inform themselves of the restrictions that apply in their own jurisdiction. A failure to do so may result in a violation of
securities laws in such jurisdiction.
This presentation does not constitute investment advice and has been prepared without taking into account the recipient's investment objectives, financial circumstances or
particular needs, and the opinions and recommendations in this presentation are not intended to represent recommendations of particular investments to particular persons.
Recipients should seek professional advice when deciding if an investment is appropriate. All securities transactions involve risks, which include (among others) the risk of adverse
or unanticipated market, financial or political developments. To the fullest extent permitted by law, FBR Limited, its officers, employees, agents and advisers do not make any
representation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of any information, statements, opinions, estimates, forecasts or other
representations contained in this presentation. No responsibility for any errors or omissions from this presentation arising out of negligence or otherwise is accepted.
This presentation may include forward looking statements. Forward looking statements are only predictions and are subject to risks, uncertainties and assumptions which are
outside the control of FBR Limited. For example (without limitation), supply chain challenges, capital markets, global unrest, inflation and sovereign risk could impact our business.
Actual values, results or events may be materially different to those expressed or implied in this presentation.
All amounts stated within this presentation are stated in Australian Dollars unless otherwise stated. Figures stated within this presentation may contain immaterial rounding
differences.
Not an offer in the United States
This presentation may not be released to US wire services or distributed in the United States. The New Shares have not been, and will not be, registered under the US Securities Act
of 1933 and may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration requirements of the US Securities Act and
applicable US state securities laws. The distribution of this presentation in the United States and elsewhere outside Australia may be restricted by law. Persons who come into
possession of this presentation should observe any such restrictions as any non-compliance could contravene applicable securities laws. Please refer to the section of this
document headed “International Offer Restrictions" for more information.
19
International Offer Restrictions
This document does not constitute an offer of new ordinary shares ("New Shares") of the Company in any jurisdiction in whichit would be unlawful. In particular, this document may
not be distributed to any person, and the New Shares may not be offered or sold, in any country outside Australia except to the extent permitted below.
Cayman Islands
This document may be distributed, and the New Shares may be offered and sold, only from outside the Cayman Islands to institutional and professional investors in the Cayman
Islands. No offer or invitation to subscribe for New Shares may be made to the public in the Cayman Islands or in any manner that would constitute carrying on business in the Cayman
Islands.
Hong Kong
WARNING: This document has not been, and will not be, registered as a prospectus under the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap. 32) of Hong Kong,
nor has it been authorised by the Securities and Futures Commission in Hong Kong pursuant to the Securities and Futures Ordinance (Cap. 571) of the Laws of Hong Kong (the “SFO”).
Accordingly, this document may not be distributed, and the New Shares may not be offered or sold, in Hong Kong other than to “professional investors” (as defined in the SFO and any
rules made under that ordinance).
No advertisement, invitation or document relating to the New Shares has been or will be issued, or has been or will be in the possession of any person for the purpose of issue, in Hong
Kong or elsewhere that is directed at, or the contents of which are likely to be accessed or read by, the public of Hong Kong (except if permitted to do so under the securities laws of
Hong Kong) other than with respect to New Shares that are or are intended to be disposed of only to persons outside Hong Kong or only to professional investors. No person allotted
New Shares may sell, or offer to sell, such securities in circumstances that amount to an offer to the public in Hong Kong within six months following the date of issue of such
securities.
The contents of this document have not been reviewed by any Hong Kong regulatory authority. You are advised to exercise caution in relation to the offer. If you are in doubt about
any contents of this document, you should obtain independent professional advice.
New Zealand
This document has not been registered, filed with or approved by any New Zealand regulatory authority under the Financial Markets Conduct Act 2013 (the “FMC Act”).
The New Shares are not being offered or sold in New Zealand (or allotted with a view to being offered for sale in New Zealand) other than to a person who:
•
is an investment business within the meaning of clause 37 of Schedule 1 of the FMC Act;
•
meets the investment activity criteria specified in clause 38 of Schedule 1 of the FMC Act;
•
is large within the meaning of clause 39 of Schedule 1 of the FMC Act;
•
is a government agency within the meaning of clause 40 of Schedule 1 of the FMC Act; or
•
is an eligible investor within the meaning of clause 41 of Schedule 1 of the FMC Act.
20
Singapore
This document and any other materials relating to the New Shares have not been, and will not be, lodged or registered as a prospectus in Singapore with the Monetary Authority of Singapore.
Accordingly, this document and any other document or materials in connection with the offer or sale, or invitation for subscription or purchase, of New Shares, may not be issued, circulated or
distributed, nor may the New Shares be offered or sold, or be made the subject of an invitation for subscription or purchase, whether directly or indirectly, to persons in Singapore except
pursuant to and in accordance with exemptions in Subdivision (4) Division 1, Part 13 of the Securities and Futures Act 2001 of Singapore (the “SFA”) or another exemption under the SFA.
This document has been given to you on the basis that you are an “institutional investor” or an “accredited investor” (as such terms are defined in the SFA). If you are not such an investor,
please return this document immediately. You may not forward or circulate this document to any other person in Singapore.
Any offer is not made to you with a view to the New Shares being subsequently offered for sale to any other party in Singapore. On-sale restrictions in Singapore may be applicable to
investors who acquire New Shares. As such, investors are advised to acquaint themselves with the SFA provisions relating to resale restrictions in Singapore and comply accordingly.
United Kingdom
Neither this document nor any other document relating to the offer has been delivered for approval to the Financial Conduct Authority in the United Kingdom and no prospectus (within the
meaning of section 85 of the Financial Services and Markets Act 2000, as amended (“FSMA”)) has been published or is intended to be published in respect of the New Shares.
The New Shares may not be offered or sold in the United Kingdom by means of this document or any other document, except in circumstances that do not require the publication of a
prospectus under section 86(1) of the FSMA. This document is issued on a confidential basis in the United Kingdom to “qualified investors” within the meaning of Article 2(e) of the UK
Prospectus Regulation. This document may not be distributed or reproduced, in whole or in part, nor may its contents be disclosed by recipients, to any other person in the United Kingdom.
Any invitation or inducement to engage in investment activity (within the meaning of section 21 of the FSMA) received in connection with the issue or sale of the New Shares has only been
communicated or caused to be communicated and will only be communicated or caused to be communicated in the United Kingdom in circumstances in which section 21(1) of the FSMA does
not apply to the Company.
In the United Kingdom, this document is being distributed only to, and is directed at, persons (i) who have professional experience in matters relating to investments falling within Article 19(5)
(investment professionals) of the Financial Services and Markets Act 2000 (Financial Promotions) Order 2005 (“FPO”), (ii) who fall within the categories of persons referred to in Article 49(2)(a)
to (d) (high net worth companies, unincorporated associations, etc.) of the FPO or (iii) to whom it may otherwise be lawfully communicated (“relevant persons”). The investment to which this
document relates is available only to relevant persons. Any person who is not a relevant person should not act or rely on this document.
21
Appendices
Introducing
Utilising FBR’s proprietary Dynamic Stabilisation
Technology (DST®), the Hadrian X® features a
modular design for mass manufacture with
distributed control architecture, improving
reliability, ease of maintenance and
customisation
Capability to incorporate a robotic brick saw
module for making height, mitre and gable
cuts as required, and a Human Machine
Interface (HMI) makes operation simple via
tablet or mobile device
3 storeys high
2
1
Shuttle block-delivery system handles blocks up to 600mm x 400mm
x 300mm (2.0ft x 1.3ft x 1.0ft) or 23 Standard Brick Equivalents,
weighing up to 45 kgs (100lbs) with scope for other industry
applications. Delivers up to 25m2 (30 yard2) of load-bearing,
structural wall per hour.
23
What’s the problem?
X Labour shortages in construction: a global challenge
X Technological advances in construction are failing to
sufficiently reduce cost
X A widening deficit of masons and bricklayers in key markets
X Housing supply unable to keep up with growing population
X The construction industry is a significant contributor to injury
and environmental risk
Why use the Hadrian X®?
A key step towards full-digitalisation of construction
House constructed using Wienerberger Porotherm – world’s largest clay blocks
Provides builders with certainty on timing of wall delivery,
and faster progression to completion:
− Reduction in project delays positively impacts economics
− Walls can be built in days and on-time
− Enables follow-on trades to work to schedule
Faster and more accurate
Drastically reduces on-site waste generation
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