Australia-based Fastbrick Robotics is developing and commercialising digital construction systems, including its Hadrian X bricklaying machine. The company describes Hadrian X as making the transition from robots working indoors to working outdoors in uncontrolled environments.
Caterpillar has invested US$2m (£1.5m) in Fastbrick Robotics shares, with an option to invest a further US$8m.
The two companies hope to develop a framework for collaboration in development, manufacturing, sales and services of Fastbrick Robotics’ robotic bricklaying technology.
The MOU also establishes a strategic alliance board with representatives from both companies that intends to develop that framework and consider how best to offer this FBR Technology to Caterpillar’s construction customers. The board will also consider the most appropriate and most profitable business models to apply in each country, state and region.
The agreement has an initial 12-month term, which may be either extended by mutual written agreement or terminated by either party at any time.
Fastbrick Robotics has also agreed to deal exclusively with Caterpillar for the development and potential commercialisation of the technology during the term of the MOU.
Fastbrick Robotics managing director Mike Pivac said: “Fastbrick Robotics is delighted to sign a MOU with Caterpillar and welcomes the company as a new shareholder. Caterpillar is a globally recognised industry leader, and we look forward to collaborating with the company and uniting our teams to share ideas, pursue innovation and explore opportunities to commercialise our unique technology.”
Got a story? Email news@theconstructionindex.co.uk
