• FBR executes MOU with Habitat (NT) Pty Ltd for sale of Hadrian X units
• Initial purchase order for one Hadrian X unit at A$7.8 million
• Habitat to use Hadrian X units for construction of Besser-block structures in Darwin

FBR Limited (ASX:FBR) has executed a non-binding Memorandum of Understanding with Northern Territory builder Habitat (NT) Pty Ltd for the sale of Hadrian X units under a Machine Supply Agreement. The Machine Supply Agreement would see FBR supplying Hadrian X units to Habitat for use in and around Darwin, with an initial purchase order for one unit at a cost of A$7.8 million (subject to finalisation of the agreed machine specifications and options). The MOU proposes a staged transaction, starting with an information exchange process where Habitat will provide detailed information about the structure designs and construction methods it wishes to implement with the Hadrian X units, while FBR will provide information about the Hadrian X and the wall system it constructs. Subject to finalisation and entry into a binding definitive agreement (the Machine Supply Agreement) and Habitat obtaining financing, Habitat would pay FBR a deposit of A$780,000 within 14 days of execution of the definitive agreements, with the remainder of the purchase price to be paid within 30 days of successful completion of Factory Acceptance Testing. FBR would provide a minimum 12-month warranty from the date of delivery, and would provide training to Habitat personnel in Perth on operating and maintaining the Hadrian X. FBR would also provide remote IT and operating/maintenance support under a future service level agreement, and would provide licensed access to all ancillary software including TAD, FBR's proprietary architectural software. Habitat is a construction and development company based in Darwin, Northern Territory, specializing in all aspects of residential, industrial, and commercial construction. Habitat has a substantial pipeline of construction work for the next 3 years, comprising residential and defence projects. The Northern Territory has a significant housing shortage, and a substantial deficit in its capacity to supply new housing at the rate required to meet the forecast housing needs. Habitat wishes to use the Hadrian X in the construction of Besser-block structures (homes and defence infrastructure) in and around Darwin, to supplement the capacity of manual brick-layers in the region, and accelerate the overall rate of construction in the Northern Territory.

FBR's CEO, Mark Pivac, commented: 'It is exciting to be selling a Hadrian X robot into the Northern Territory market to help solve the housing crisis. Habitat is an innovative and proactive builder well positioned to operate Hadrian X. I look forward to a successful long term relationship.'