Perth-based company Fastbrick Robotics says its one-armed bricklaying robot is on track for commercial release this calendar year.
A short time ago, the company’s shares were up 4% to 12.5 cents.
Fastbrick company listed on the ASX in November 2015 in a reverse takeover of DMY Capital. An oversubscribed IPO raised $5.75 million at 2 cents a share.
In a quarterly update released today, the company says the Hadrian X robot bricklayer, with a price tag of about $2 million, is on track for delivery this year.
Fastbrick’s closing cash balance at end of March was $9.9 million.
The company says it is focusing on a global marketing strategy to generate interest with potential partners.
The Hadrian X, mounted on a truck with a 30 metre boom robotic arm, works day and night, laying up to 1,000 bricks — about the output of two human bricklayers for a day — in an hour.
The prototype Hadrian 105 robot, the first of its kind, can be seen in action below:
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