FBR Limited announces agreement with Liebherr USA Co.

FBR Limited (ASX: $FBR) has announced an agreement with Liebherr USA Co. to utilize their facilities in Miami, Florida as a service and maintenance base for the next-generation Hadrian X robots initially deployed to the United States. The agreement aims to accelerate the commercial rollout of the Hadrian X robots in the USA, following FBR's recent announcement of a Demonstration Program with CRH Ventures and a pathway to 300 Hadrian X units.

Executive Commentary on the Agreement

With FBR's recent announcement that it is embarking on a Demonstration Program in the United States with CRH with a view to forming a joint venture with a pathway to 300 Hadrian X units, we are pleased that Liebherr USA has agreed to support us with a base to accelerate the commercial rollout of the Hadrian X®. Use of the Miami facility is of significant benefit to FBR and will allow us to demonstrate the capabilities of our technology to US builders in pursuit of a pipeline of work for the future Wall as a Service operating entity. Extending the term of Phase One of our Memorandum of Understanding will allow us the necessary time to get our robots on the ground in the United States, and give the Liebherr team who may be directly involved in the large-scale manufacture of the Hadrian X robots the opportunity to work directly with them and build their hands-on knowledge of the technology by working with us to service and maintain them at their facilities.

Summary of FBR's Agreement with Liebherr USA Co.

FBR Limited (ASX: $FBR) has entered into an agreement with Liebherr USA Co. to utilize their facilities in Miami, Florida for the service and maintenance of the next-generation Hadrian X robots deployed to the United States. The agreement aims to accelerate the commercial rollout of the Hadrian X robots in the USA, following FBR's recent announcement of a Demonstration Program with CRH Ventures and a pathway to 300 Hadrian X units. The extension of Phase One of the Memorandum of Understanding will provide sufficient time to commence operations, validate achievement of key performance targets, and agree on commercial terms for the manufacturing and commercialization of the Hadrian X globally. FBR's Managing Director and Chief Executive Officer, Mike Pivac, expressed his pleasure with Liebherr USA's support and highlighted the significant benefit of using the Miami facility to demonstrate the technology's capabilities to US builders. Stephen Albrecht, Managing Director of Liebherr-International AG, expressed confidence in the success of the Hadrian X in meeting its performance targets ahead of a possible long-term Manufacturing and Commercialisation Agreement.