According to The Australian Financial Review today, Australian investors have begun buying in to the rise of the machines, as a company promising to replace the humble brickie with a robot that can build a four-bedroom house in two days hit the ASX boards.
Fastbrick Robotics started trading on the ASX on Wednesday, and was up almost 4 per cent by midday.
It backdoor listed through DMY Capital and in a sign of investor demand for robotic automation, it raised $5.75 million, substantially more than its $3 million target, in an oversubscribed prospectus capital raising.
The capital will be used to fund the construction of the company's Hadrian 109 robots for commercial use, with the first robots expected to be rolled out in Western Australia in 2017.
Fastbrick Robotics chief executive Mike Pivac said the robots would be able to build a house faster and more accurately than traditional methods.
"The home buyer is the real beneficiary of this. The time it takes to build a standard home is six to eight weeks, so the home buyer will save $20,000 to $30,000," he said.
"We've had commercial interest from 45 countries. The UK and Europe are strong market places for us at the moment. There are skill shortages there which have put upward pressure on house pricing and brick suppliers are very keen for automated systems to transition into the industry over the next few years."
While the robots will put some bricklayers out of a job, Mr Pivac said the idea was to have them work alongside the robots, and to fill the skill shortage in the industry.
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