Company Name: Fastbrick Robotics
Announcement Date: 08/01/2018
Announcement Category: Contract/Partnership
Australian robotic technology company Fastbrick Robotics Limited (ASX:FBR) (‘Fastbrick’ or ‘the Company’) is pleased to announce the appointment of EY-Parthenon as its global strategic advisor. Fastbrick’s executive team will work with EY-Parthenon on commercialising the Hadrian X into the global market. The Hadrian X robotic bricklayer has the potential to disrupt and deliver sector defining productivity benefits to the trillion-dollar construction industry as well as substantially improving the safety within the sector and providing affordable social housing.
It’s a priority for Fastbrick to fully understand the extent of the global potential for the Hadrian X. With strategic analysis provided by EY-Parthenon, Fastbrick aims to better understand the value created by Hadrian X and where to prioritise resources in terms of the market opportunity and market penetration strategy, as Hadrian X is commercialised and rolled-out worldwide. EY-Parthenon’s work will allow Fastbrick to better quantify the full potential of the various international markets and provide an informed basis for developing detailed market entry strategies for priority markets.
Fastbrick Robotics Chief Executive Officer Mike Pivac: “We have appointed EY-Parthenon as our strategic partners to assist us in better understanding our target markets and assessing the overall global market opportunity for Hadrian X. This data will allow us to develop an economic model that informs our global strategy and assist potential customers with understanding the potential productivity gains and profitability improvements Hadrian X provides to their construction value and supply chains with Hadrian X robots. We look forward to collaborating with EY-Parthenon on this project.
We will also be investigating the conversion point and change drivers for consumers and construction firms worldwide that are deciding to switch from timber built structures to brick and/or Cement Masonry structures, as we also see this as a significant opportunity. We aim for Hadrian X to be at the forefront of the disruption that digital construction will bring to the global construction sector, and to compete strongly with Standup Concrete Panel and Modular Construction methods by making the in-situ completion of low rise home and commercial structures more efficient and cost competitive.”
The EY-Parthenon Lead Engagement Partner Jeremy Barker: “This is a great opportunity to work closely with the Fastbrick Robotics Ltd Board and executive team as they grow their business. Our study will assist Fastbrick with market prioritisation and market entry and support them in executing their strategy and operationalising their business. We are excited by Hadrian X’s potential to transform the construction industry globally as well as helping governments address the critical issue of providing affordable social housing. We believe the underlying dynamic stabilisation technology behind the Hadrian X has the potential to disrupt other sectors which is an exciting long-term prospect.”
Announcement URL: http://www.asx.com.au/asxpdf/20180108/pdf/43qnztcf7b7gyv.pdf
About Fastbrick Robotics:
Fastbrick Robotics Limited (ASX:FBR) is an Australian robotic technology company developing and commercialising digital construction technology solutions. Fastbrick Robotics’ revolutionary bricklaying machine Hadrian X represents the first application of the Company’s underlying intellectual property portfolio. Hadrian X is a globally patented 3D robotic bricklaying system and marks the transition to dynamically stabilised robots (DSR) operating outdoors in uncontrolled environments.
Fastbrick is currently advancing its robotics technology through a Memorandum of Understanding (MOU) with Caterpillar Inc. (NYSE:CAT) demonstrating global scalability and a MOU with the Kingdom of Saudi Arabia highlighting customer demand for Fastbrick's technology. Fastbrick is committed to improving the safety, speed, accuracy, cost and waste management in the global construction industry through utilising the world’s latest innovations in mobile robotic technology.
Go to Company Profile for: Fastbrick Robotics
Announcement Contact: [email protected]