FBR Quarterly Report | June 2019
FBR provides its quarterly update for the three months ending June 30, 2019.
First Wall as a Service® operating entity established in joint venture with Brickworks
On 6 May 2019, it was announced that FBR had commenced its incorporated joint venture with Brickworks Building Products Pty Ltd ('Brickworks'), a wholly owned subsidiary of Brickworks Limited, Australia's leading supplier of building products. FBR and Brickworks have established Fastbrick Australia Pty Ltd as a special-purpose joint venture company with 50/50 ownership between the parties, which will provide Wall as a Service® ('WaaS®') to the Australian market. Initial WaaS® operations will commence shortly and will be focused on residential construction.
As part of the joint venture, Brickworks and FBR have developed a special block optimised for use with the Hadrian X®. This block is currently being used in the Hadrian X® testing program, and has passed all of the required masonry code testing in accordance with AS3700:2018 - Masonry Structures.
New corporate structure implemented
As announced to the ASX on 3 June 2019, FBR has implemented a new corporate structure to accelerate the commercialisation of its technology in Australia and in international markets. A Global Commercialisation Team, led by FBR's Global CEO and Managing Director, Mr Mike Pivac, has been established to allow a dedicated management team to focus on the significant international opportunities in front of FBR, both for its existing technology and for new technology under development.
Mr Simon Amos has been appointed CEO - Australia, with responsibility for the management of FBR's Australian operations. FBR's activities in Australia will have an increasing focus on construction given the establishment of Fastbrick Australia Pty Ltd.
Further, Mr Jonathan Lawe Davies, previously Chief Intellectual Property Counsel, has moved into the position of General Counsel. Mr Aidan Flynn will take on a new role in the Global Commercialisation Team focused on economic and financial modelling and value creation once a suitable replacement can be found for his role as Chief Financial Officer. In line with this change in position, Mr Flynn has now finished as Joint Company Secretary, with Ms Rachelle Brunet continuing as sole Company Secretary.
Hadrian X® progress update
Significant progress has been made in the Hadrian X® program, with improvements to the accuracy, lay rate and reliability of the Hadrian X® made through both software and mechanical changes since completion of FBR's first outdoor build earlier this year. The second Hadrian X® robot, H02, has been fully assembled and is in the final stages of commissioning.
FBR has had the pleasure of welcoming a number of distinguished guests to its new testing facility to witness the Hadrian X® in action, including the Honourable Mark GcGowan MLA, Premier of Western Australia, who attended the official opening of FBR's new facility and participated in a ribbon cutting ceremony. FBR has also hosted Mr Stephen Price MLA, Member for Forrestfield; Hon. Samantha Rowe MLC, Member for East Metropolitan Region; Hon. Matthew Swinbourn MLC, Member for East Metropolitan Region; Hon. Steve Irons MP, Member for Swan; and Ms Fiona Roche, Deputy Director General Industry, Science and Innovation, and Ms Clare Patterson, A/Director Science and Innovation, both from the Department of Jobs, Tourism, Science and Innovation.
