Shares of FBR Limited [ASX:FBR] surged 27.7% yesterday, on the back of a three day trading halt.
The surge came after the company announced that it had completed a ‘world-first’ technical milestone.
At time of writing, FBR’s share price is trading at 20 cents, an early pull back of 5% in trading today.
FBR’s technical milestone
Yesterday, FBR announced the successful demonstration of its robotic home building technology and the successful completion of its Factory Acceptance Testing (FAT).
The robot built a 180m2, three bedroom, two bathroom home in less than the anticipated three days, a milestone set by the company back in 2015.
After the completion, the structure was verified by a civil and structural engineering consultancy group as meeting building standards.
CEO Mike Pivac commented on the milestone, saying:
‘We are all justifiably proud and excited to have achieved this world first milestone for FBR. We now have the world’s only fully automated, end-to-end bricklaying solution, with a massive market waiting for it. We will now take everything we’ve learned to date in the Hadrian X programme and make some refinements ahead of bringing both Hadrian X robots back to our High Wycombe facility for demonstration to key commercial stakeholders.’
Should you invest in FBR?
Investors ran with yesterday’s news, and it’s no surprise why. This is an impressive milestone for FBR, the world’s first fully automated home building tech has huge potential in the construction industry.
The automated construction of homes could not only reduce wastage by better accuracy and managing of materials, but also reduce the strain on labourers by handling the heavy lifting.
This is only the beginning for FBR and their home building tech. If nothing else, keep tuned for any upcoming announcements in relation to partnerships and binding agreements.
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