Perth technology company FBR (ASX: FBR) has announced a fully underwritten institutional Placement to raise $20 million, at 4¢ a share, to accelerate the completion of the next-generation Hadrian X® H110 program and pursue Wall as a Service (WaaS®) global expansion and commercialisation opportunities.
FBR’s Hadrian X® technology aims to revolutionise the residential construction industry by providing benefits over traditional bricklaying methods including improved speed and accuracy, significant cost efficiencies and multi-purpose superior output.
In particular, funds from the placement – which is fully underwritten by Jarden Australia – will be used applied to:
- Next-generation Hadrian X® H110 Program (H03 + H04):
- Complete manufacture – H03 (currently 70% complete)
- Complete commissioning activities – H03
- Complete procurement of components – H04
- Manufacture and commissioning – H04
- Initial adjacent Dynamic Stabilisation Technology DST®, opportunities (roof tile shuttle testing, 3D Concrete Printing applications where concrete is used to print a structure)
- WaaS® expansion funding:
- Deployment of next-generation Hadrian X® H03 to overseas markets for demonstrations
- Establishment of offshore WaaS® entities
- Business development and market engagement activities
“FBR is pleased to announce the institutional placement to accelerate the completion of the next-generation Hadrian X® program,” managing director Mike Pivac said.
“The equity raising will also enhance the company’s position to execute on and expand its current commercial opportunities globally.”
View the full ASX announcement
View the investor presentation
