ASX Tech: FBR jumps 30pc off Mexican deal to build 2,000+ homes with its bricklaying robot

Fastbrick secures deal with Mexico’s largest construction and real estate developer
BrainChip launches US depositary receipts program on the OTCQX
Mobilicom nabs drone cybersecurity software deal with Israel’s Ministry of Defence

FBR Limited (ASX:FBR)

The robotic tech company jumped 30% today after announcing it has signed a term sheet with GP Vivienda to supply Wall as a Service® (WaaS®) for between 2,000 and 5,000 homes in Mexico using its Hadrian X® construction robot.

GP Vivienda is the housing division of Grupo GP, one of Mexico’s largest construction and real estate development companies and has built and delivered over 115,00 homes.

FBR managing director and CEO Mike Pivac said the company is excited to have a term sheet in place “to build our first homes in North America under competitive commercial terms.”

“The volume of work contemplated under the term sheet will give us a great start from which to grow our business in North America, as there will be a strong pipeline of work to complete as soon as we deploy,” he said.

The milestones for completion include receiving confirmation that the Hadrian X® and Fastbrick Wall System® are compliant with all relevant codes and regulations in Mexico, completion of a collaborative commercial model, completion of a pilot building program of 20 homes in Mexico with the Hadrian X® using concrete masonry unit (CMU) blocks.

Oh, and COVID-19 travel restrictions easing.

BrainChip (ASX:BRN)

Up 4.34% was AI smart chip developer BrainChip, after the launch of its sponsored Level 1 American Depositary Receipts Program (ADR Program), with trading set to will begin via the OTCQX Best Market under the ticker symbol BCHPY on 03 November at the US market open.

An ADR is a US trading instrument denominated in USD that allows non-US issuers to trade on a US trading platform such as the OTCQX or US exchange.

BrainChip said that establishing this program is part of an ongoing strategy to make the company more attractive to investors outside Australia – and make the company eligible to receive investment from North American institutions and fund managers.

“The versatility and widespread appeal of an ADR program among US institutions will allow BrainChip to continue on its path of pursuing high accessibility to the US capital markets,” BrainChip CFO Ken Scarince said.

“We believe the strong demand for high-growth potential, Artificial Intelligence stocks in the US will result in an influx of US investment and ultimately an increase in shareholder value.”

The BrainChip foreign listed shares on the OTCQX will continue to trade under the symbol BRCHF.

Mobilicom (ASX:MOB)

Cybersecurity player Mobilicom announced the first sale of its AI-based 360° cybersecurity software to the Israel Ministry of Defence (IMOD), valued at $270,000.

The software is for drones, robotics and autonomous platforms and detects, prevents, and responds to multiple cyber threats in real-time without operator intervention.

Mobilicom CEO Oren Elkayam said the first cybersecurity sale provides important technical and commercial validation, enabling the company to “validate the capability of our software with a globally respected drone and cybersecurity user.”

“The IMOD is an early adopter of cutting-edge technologies, particularly in the field of cybersecurity.” He said.

“To have our cyber software implemented across its range of tactical drones and robotics platforms provides an important market validation as to the quality and innovation of our technology, and our industry leadership in this domain.

“We will initially work with the IMOD to integrate the ICE cybersecurity software into their tactical drones and robotics platforms, before carrying out extensive in-field implementation, including orchestrated malicious threats and cyber-attacks.”

Elkayam said that this top-tier third-party validation is key to securing future sales from other drone and robotics manufacturers.