Robotic technology company FBR Limited (ASX: FBR) has finalized binding agreements with CRH Ventures Americas, Inc., a subsidiary of CRH plc, a major concrete block supplier in the United States. The agreements include a Demonstration Program to construct up to 10 houses in the U.S. using FBR’s Hadrian X® construction robot. Upon successful completion, CRH Ventures gains an exclusive Option to establish a joint venture, with an initial US$40 million rolling loan facility.
This venture marks a significant collaboration aimed at revolutionizing construction practices through robotics, fostering a safer, more efficient, and sustainable environment. CRH Ventures will become the exclusive concrete block supplier to the joint venture, reinforcing their commitment to innovation in construction. Milestone-based payments and stringent testing criteria ensure the successful implementation of the Demonstration Program and subsequent joint venture.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
