ASX Tech Stocks: Fastbrick completes pilot build, plans to deploy Hadrian X robot to Europe
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Shares in FBR rose for the fourth straight day this morning, with another ~10% gain after completing the outdoor pilot build for Wienerberger using Porotherm clay blocks with its Hadrian X® robot.
The company said the pilot build demonstrates the ability of the Hadrian X® to work with the architectural style and construction materials commonly found in the European market, where an estimated 700,000 new low-rise homes are built each year.
“Although we expected to have a Hadrian X® deployed to Europe this year to complete this Pilot Program, the global conditions caused by COVID- 19 have meant that we must conduct the Program here in Australia, with a view to deploying to Europe when conditions have improved such that it makes sense to do so,” FBR managing director and CEO Mike Pivac said.
“Both parties are committed to advancing robotic construction together and improving the efficiency, sustainability and digitalisation of the construction industry.”
The next step is to conduct further optimisation of both the Hadrian X® and the Porotherm blocks to ensure field readiness for European Pilot Programs.
Document productivity software company Nitro was down 2.9% today after completing the institutional component of its recently announced $140 million equity raising – with a total of around A$117 million raised from the institutional entitlement offer ($37 million) and placement ($80 million).
The retail component of the entitlement offer – which has been fully underwritten – will raise the balance of around $23 million.
The company plans to use the funds to acquire Connective NV, to assist with acquisition integration and transaction related expenses, as well as company liquidity and working capital purposes.
Founder and CEO Sam Chandler said the acquisition is a key milestone in Nitro’s product-led evolution, “positioning us to become the third global player in the fast-growing enterprise eSign market.”
“We look forward to completing the retail component of the entitlement offer and closing the acquisition in December.”
Down 7.4% was Nearmap, following a trading update where it said FY22 guidance for annual contract revenues (ACV) is expected be between $150 million and $160 million on a constant currency basis.
The company said that, following a series of successfully completed tests of custom designed components in aerial flight, it remains on track to manufacture and commence roll-out of its next iteration of world leading aerial camera systems, HyperCamera3, in FY22.
Addressing shareholders at the annual general meeting, chairman Peter James said the company tested a prototype in flight during FY21.
“There were significant technological challenges to overcome in designing a camera system of this complexity, but our world class team delivered,” he said.
“Their work means that Nearmap has further extended our already significant technology leadership position.
Nearmap plans to target 20-40% ACV growth in the medium to long term and to maintain underlying retention above 90%.