Perth robotic technology company FBR Limited (ASX: FBR) has received a A$5.88 million tax incentive cash refund for research and development from the Australian Taxation Office and Industry Innovation and Science Australia for the year ended 30 June 2022.
Following repayment of the existing A$4 million loan with FC Capital, net cash received by FBR was $1.88 million.
FBR this week signed off on a big December quarter, which was highlighted by mechanical completion and the start of commissioning of its first next-generation Hadrian X® bricklaying machine.
FBR also continued construction activities at the Willagee development, with the southern section reaching completion as the company set a new 9.2m height record utilising the Hadrian X® 109.
A $20 million placement to institutional, sophisticated and strategic investors was completed during the quarter to accelerate completion of the next-generation Hadrian X® program, pursue WaaS® global expansion and commercialisation opportunities as well as provide additional working capital for a ramp up in activities and workforce planning
Post-quarter, FBR announced that it had ICC certification approval for use of Fastbrick Adhesive® in concrete masonry construction.