The one-armed bricklaying robot is cashed up and getting ready to build houses

Building a house by robot. Image: Supplied.

Fastbrick Robotics just filed its annual results showing it is “well funded” to complete a commercial version of its one-armed robot bricklaying machine, Hadrian X.

CEO Mike Pivac says the Perth-based company ended the 2017 financial year with a cash balance of $8.651 million and is “well funded” for 2018.

The company reported a loss of $1.29 million for the 12 months to June, an improvement from the previous year’s $5.78 million. Revenue was $1.44 million.

“I’m delighted with the progress Fastbrick made during FY17,” he says.

“The company is now well positioned, as the development of Hadrian X accelerates and as we continue to invest into research and development.”

Fastbrick now has a memorandum of understanding with Saudi Arabia for the construction of a minimum of 50,000 new home units by 2022.

Earlier this year the US machinery giant Caterpillar invested $2 million in Fastbrick, with an option for a further $8 million.

“Fastbrick’s key FY18 objectives include completion and demonstration of the Hadrian X construction robot, advancing the Caterpillar commercial relationship and continuing our customer discovery process with a pre-launch order book,” says Pivac.

“We are confident the milestones of FY17 will ensure Fastbrick is better positioned than ever to deliver upon its strategic objectives.”

The Hadrian X is expected to cost about $2 million when it goes into full production in 2019.

The machine requires minimal human interaction and works day and night, laying up to 1,000 bricks an hour — about the output of two human bricklayers for a day.

The prototype Hadrian 105 robot, the first of its kind, can be seen in action below: