FBR unveils strategic fundraising initiative

FBR (ASX:FBR) has announced a Share Purchase Plan (SPP) aimed at raising up to A$8 million. This plan allows shareholders to purchase additional shares at a discounted price of A$0.038 each. The initiative is fully underwritten by Bell Potter Securities Limited and supports the commercialization of FBR's Hadrian X and Wall as a Service (WaaS®) offerings.

FBR's growth strategy through innovative technology

FBR is set to raise A$8 million through a Share Purchase Plan, with shares offered at an 11.6% discount. This fundraising supports FBR's commercialization efforts of their Hadrian X technology in the U.S., in collaboration with CRH Ventures. The partnership includes a Demonstration Program in Florida, aiming to construct 10 homes using Hadrian X. A successful program could lead to a joint venture, starting with the purchase of 20 robots and potential expansion up to 300. FBR is also eyeing global markets, including Europe and Australia, and is working on certifying its Fastbrick Wall System for European standards. The company is enhancing its manufacturing capabilities with OEM Liebherr-Mischtechnik, aiming for scalability. Overall, FBR's strategic actions signify its commitment to growth in the construction technology sector.

Executive insights on FBR's strategic move

The SPP is part of FBR's strategy to support the commercialization of its Hadrian X technology and Wall as a Service (WaaS®) offering, particularly in the United States through a partnership with CRH Ventures.