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Fastbrick signs a deal with Caterpillar to develop bricklaying robots

Investors poured into small-cap robotics company, Fastbrick Robotics, on Monday after the company struck a deal with global construction manufacturer Caterpillar.

The US giant, which manufactures construction and mining equipment, has invested $2.6 million in the Perth-based company and signed a memorandum of understanding to collaborate on the development, manufacture, sales and services of Fastbrick’s robotic bricklaying technology.

Fastbrick is building a commercial version of its robot bricklaying machine, Hadrian X, which will cost about $2 million when it goes into full production in 2019.

Shares in Fastbrick rocketed 19.05 per cent higher to 12.5¢.

Fastbrick is building a commercial version of its robot bricklaying machine, Hadrian X, 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 per cent.

roves into companies looking to increase mine and construction productivity while keeping labour costs and risks low.

Fastbrick’s announcement comes just days after Fortescue Metals announced it hopes to become the first miner to fully automate the majority of its haul-truck fleet.

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