- PT Blink, which aims to disrupt the $356 billion Australian construction industry, has launched an equity crowdfunding campaign.
- The company’s technology claims to be able to put up a multi-storey building in up to half the normal time.
- The $2 million raise is via OnMarket, the Australian equity crowdfunding platform.
PT Blink Limited, a technology company with a way to put up multi-storey buildings up to 50% faster, has launched an equity crowdfunding raise of $2 million via platform OnMarket.
The technology is a way of constructing multi-storey buildings using tensioned steel to create a structural backbone manufactured safely off site, and delivered for assembly.
Murray Ellen, founder of the Sydney-based PT Blink, says the construction sector is set for a shake-up.
“I am excited to use equity crowdfunding to fuel the growth of PT Blink Limited and to also share the opportunity with investors throughout Australia to participate in a business which provides a dramatically different method for the construction of multi-level buildings,” he said.
PT Blink earns revenue from royalty income by licensing the Blink Technology to property developers, builders, designers, suppliers and assemblers.
The company’s scalable technology uses a patented steel structural backbone strengthened using steel cables.
“The efficiency factor alone can be up to 50%,” he says. “Time is the most under-valued commodity in the construction industry. Reducing time delivers much higher returns, greater productivity and a safer environment.
The construction schedule on one recently-completed seven-storey project in Brisbane’s Spring Hill was compressed by five months thanks to PT Blink’s process.
PT Blink is currently designing projects in the US, where modular construction is increasingly being adopted to address rising construction costs and the shortfall of affordable housing supply.
The new crowd-sourced funding legislation allows unlisted public companies the opportunity to raise up to $5 million per year from the crowd.
OnMarket, the equity crowdfunding platform, has so far completed two equity crowdfunding deals since receiving a equity crowdfunding intermediary licence from corporate regulator ASIC in January.