Fastbrick rebrands, lays out global plans

07/06/2018 - 14:06

Bookmark

Save articles for future reference.

Local tech company Fastbrick Robotics has rebranded as FBR, with the company aiming to broaden the use of its technology beyond bricklaying and construction.

Mechanical assembly of the Hadrian X is complete. Photo: FBR

Local tech company Fastbrick Robotics has rebranded as FBR, with the company aiming to broaden the use of its technology beyond bricklaying and construction.

In a statement to the ASX, the company said the change of name was in line with its updated strategy to become a global robotics firm and establish a structure that could see a number of different operating divisions.

FBR said its core dynamic stabilisation technology (DST) had potential applications across a number of industries.

“The rebranding of the company from ‘Fasbrick Robotics’ to ‘FBR’, has been activated at this time to ensure that our ongoing branding is aligned with our emerging structure and company strategy,” chief operating officer Marcus Gracey said.

“The key message is that FBR is not just about bricklaying and, as a result, we are adjusting our branding and structure now to ensure that it is better aligned with our future plans.”

FBR said it intends to put a resolution to shareholders at the next shareholder meeting to officially change the company’s name.

Meanwhile, FBR also announced that mechanical assembly of its Hadrian X robot was complete, while the software that drove the machine was in advanced virtual testing.

“This represents the start of a very important phase for FBR, where we’ll get the opportunity to globally demonstrate the Hadrian X and get everyone excited about what now exists in construction technology, and what might be possible for the future,” chief executive Michael Pivac said.

“Our focus is to scale this product and get it into the market with our partner organisations, as well as applying the underlying technology to a range of products across a range of other sectors.”

The company has now commenced mechanical testing and commissioning of the Hadrian X and is working towards testing the DST to confirm that it meets the functional and technical requirements.

Shares in Fastbrick finished up 8.6 per cent at 19 cents each. 

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options