Hi All,
While we wait this is a simple post for those coming in new and wondering who are CRH and their history with FBR.
CRH is an Irish company with a large multinational base and market. Its net worth can be disputed in reference to different writings; however, it is commonly mentioned as north of 40 billion. CRH is listed on the NYSE and LSE. They have a significant global presence and employee base. Details are in the links below, which will provide you with more details.
https://www.crh.com/about-crh/at-a-glance
https://www.forbes.com/companies/crh/
From what I am aware Oldcastle was mentioned first. Oldcastle are a company owned by CRH. Here is a little article on who they are.
https://www.oldcastleapg.com/who-we-are/
Oldcastle has been recorded as being a part of the FBR Journey with its first exhibit together back in 2022.
https://www.aiafla.org/upload_documents/fbr-presentation-AIA-FINAL5262022.pdf
https://www.fbr.com.au/view/news-articles/20220801011103
This episode of bricks, blocks, and beers hosting FBR and Oldcastle in 2022 is a great watch for anyone interested.
https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&cad=rja&uact=8&ved=2ahUKEwjnzoDb-smKAxWb4zgGHWNfIjsQwqsBegQIDRAE&url=https%3A%2F%2Fwww.youtube.com%2Fwatch%3Fv%3DlcefHg5lBVk&usg=AOvVaw2ud3yU00ZMV0LgAm9Yg4w-&opi=89978449
It was reported by investors here that Oldcastle visited FBR in Perth to watch a demonstration build for international visitors. I can't confirm this but have no reason to believe differently.
FBR and CRH jointly announced a demonstration program which has just recently been completed. This Joint venture had FBR complete 9 builds in Florida with one of the builds being the first in which the Hadrian X was reported as building all the walls in a single day. CRH paid FBR in instalments for varying milestones.
https://www.crhventures.com/news/crh-ventures-announces-demo-programme-with-fbr
https://www.listcorp.com/asx/fbr/fbr-limited/news/fbr-completes-united-states-demonstration-program-3134890.html
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02898154-6A1245086
In those links you will read about what is next. As of Jan 2nd CRH have 45 days to sign a Joint Venture (JV) with FBR. This will give FBR significant funding for the builds of many machines and a partnership with a behemoth company. The speed of these machines going to market depends on a few things with one key item being utilisation.
While not being a US citizen with a bit of research you will see how building is done differently. Commonly the larger builders FBR are seeking market opportunity with will bulld in estates. Many homes in a single location which is exactly what Hadrian X is suited to.
Goodluck in 2025. I think this will be our most interesting year to date and I look forward to the progress ahead.
