Australian robotic technology company developing and commercializing digital construction soluton, Perth based Fastbrick Robotics Limited has entered into a Memorandum of Understanding with global construction manufacturer Caterpillar Inc. (CAT) to discuss and develop a potential framework for collaboration regarding the development manufacturing, sales, and services of Fastbrick Robotics’ robotic bricklaying technology.
The US giant, Caterpillar will invest $US2 million in the company as part of an initial 12-month collaboration to help commercialize its robotic bricklaying technology..
Fastbrick has designed a commercial version of its robot bricklaying machine, Hadrian X, without human labour which will cost about $2 million when it goes into full production in 2019.
The Hadrian X requires little human interaction and works day and night, laying up to 1000 bricks an hour, which is about the output of two human bricklayers for a day.
Caterpillar will also earn the option to invest a further $US8 million ($10.4 million) in the company, taking its stake to about 7 percent.
Robotic Process Automation and artificial intelligence have been maturing steadily over the past 10 years, with remote control centers, autonomous haulage trucking and rail, drilling and automated blasting systems commonplace throughout Australian businesses.
The CSIRO recently released a report saying that in the next 20 years, 44 per cent of Australian jobs are at risk of computerisation and automation.
Fastbrick Robotics managing director Mike Pivac said the company was delighted to sign a memorandum of understanding with Caterpillar and welcomed the company as a new shareholder.
Caterpillar is a globally recognized industry leader, and they look forward to collaborating with the company and uniting their teams to share ideas, pursue innovation and explore opportunities to commercialize their unique technology.
Fastbrick Robotics is committed to improving the safety, speed, accuracy, cost and waste management within the global construction industry through utilizing the world’s latest innovations in mobile robotic technology.