Australian robotic technology company Fastbrick Robotics (ASX:FBR)
has highlighted in its September quarter results the collaboration with Caterpillar and Saudi Arabia’s Ministry of Housing for its Hadrian X robot program.
Caterpillar is looking to invest US$2 million in the company, and the robotics company will potentially build 50,000 new homes in Saudi Arabia using the Hadrian X robots it is building.
During the quarter the company progressed the procurement activity of the Hadrian X construction, with orders for medium lead-time items placed.
Many of the components for the robots have been manufactured and are ready to be assembled, after rigorous testing has been completed.
Fastbrick’s Chief Technology Officer Mark Pivac said this quarter saw significant momentum and confidence in the Hadrian X prototype program and their committed engineering team can now progress to the next phase of the project.
Shares in Fastbrick Robotics (ASX:FBR)
are trading 2.44 per cent higher to 21 cents.