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FBR Ltd (ASX:FBR) share price up 9% on completion of first Hadrian X robot

The FBR Ltd (ASX: FBR) share price is up 9% after announcing it has completed the first Hadrian X robot.

FBR is developing a truck with a robotic arm that can build a house in hours that would take a team of bricklayers days.

The company announced that it has achieved the milestone of completing a fully operational Hadrian X construction robot. ‘Factory Acceptance Testing’ will now commence, where Hadrian X will begin building structures in different configurations within a controlled environment in preparation for building the first house.

CEO Mike Pivac said “Our team at FBR is excited to have reached this significant milestone and that our DST technology is functioning as intended with the Hadrian X. Everyone involved in the project has worked extremely hard and is incredibly proud of what we have achieved to date, however we remain firmly focused on our goal of completing the first build of a house with the world’s first fully automated, end to end bricklaying robot.”

FBR remains on track to complete Build1, the first robotically built three bedroom, two bathroom structure by the Hadrian X in the second half of the 2018 calendar year.

The company also announced today that it has received a research and development tax incentive cash refund of around $7.4 million for the 12-month period ended 30 June 2018.

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The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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