FBR Limited (ASX:FBR), a robotic technology company that designs, develops, and builds dynamically stabilised robots, has announced it has executed a non-binding Memorandum of Understanding (MOU) with Fraser Lyne Constructions Pty Ltd, a New South Wales-based builder, for the sale of a Hadrian unit. The agreement involves a Machine Supply Agreement under which FBR will supply a Hadrian unit for use in the Mid North Coast region of New South Wales. This region is experiencing a significant housing shortage, with capacity struggling to keep up with forecasted demand.
The initial purchase order specifies one Hadrian unit at a cost of A$7.8 million, subject to finalisation of agreed machine specifications and options. The transaction will be staged, beginning with an information exchange process where Fraser Lyne will provide detailed information about the structure designs and construction methods they intend to implement with the Hadrian unit. FBR will provide information about the Hadrian and wall system construction.
The machine sale requires a deposit of A$780,000 to be paid to FBR within 14 days of executing the definitive agreements. The remaining purchase price is due within 30 days of successful completion of Factory Acceptance Testing. The agreement is contingent upon the execution of a binding definitive Machine Supply Agreement and Fraser Lyne securing financing or a partner to operate the Hadrian. The agreement also includes a minimum 12-month machine warranty from the date of delivery and the provision of training to Fraser Lyne personnel on operating and maintaining the Hadrian.
FBR will provide remote IT and operating/maintenance support under a future service level agreement, along with licensed access to ancillary software, including FBR’s proprietary architectural software, TAD. FBR’s CEO, Mark Pivac, expressed enthusiasm about the agreement, highlighting its potential to address the housing crisis in New South Wales and praising Fraser Lyne’s construction quality. The announcement was authorised for release to the ASX by the FBR Board of Directors.
