FBR receives A$198,000 deposit for first Mantis unit
Robotic technology company FBR Limited (ASX: FBR) has received the 20% deposit (A$198,000) for the first Mantis™ unit from Industrial Robotics LLC. The payment moves the welding robot from demonstration towards a committed customer.
Upon completion of Factory Acceptance Testing, the purchase order for the first Mantis™ unit became binding and the deposit of 20% (A$198,000) became payable.
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Payment structure and what comes next
The announcement sets out three payment stages for the first Mantis™ unit:
- 20% deposit (A$198,000): received.
- Balance of the purchase price less 10%: to be paid before despatch.
- Remaining 10%: to be paid three months after installation and commissioning.
| Payment stage | Share of price | Timing/Status |
|---|---|---|
| Deposit | 20% (A$198,000) | Received |
| Balance less 10% | n/a | To be paid before despatch |
| Remaining 10% | 10% | To be paid three months after installation and commissioning |
Payment is weighted towards delivery. The first 20% has been received, and the balance less 10% is to be paid to FBR before the unit is despatched.
What is a high deposition welding robot?
Mantis™ is a high deposition welding robot for large-scale metal fabrication industries such as mining, shipbuilding and defence manufacture. It is one of the applications of FBR’s core Dynamic Stabilisation Technology® (DST®), which underpins robots designed to work outdoors.
FBR lists three DST® applications:
- Hadrian®: a bricklaying robot that builds structural walls.
- Mantis™: a high deposition welding robot for large-scale metal fabrication.
- Firehawk™: an autonomous refractory lining robot for ladles used in steel production.
The list shows the range of industries FBR’s DST® platform addresses, from construction to metal fabrication and steelmaking.
Demonstrations to shipbuilders and heavy industry
FBR is currently using the Mantis™ unit to conduct demonstrations, including to major Korean and Australian shipbuilders, heavy industrial fabricators and mining equipment producers.
Among the Korean shipbuilders to have seen the unit, Samsung Heavy Industries sent four experts to watch Mantis™ work on shipbuilding-representative pieces and described it as very impressive, though no order has followed.
The demonstrations take place while the unit remains with FBR, ahead of its planned despatch to the United States.
What happens next for FBR
Three steps follow for the first Mantis™ unit:
- Despatch of the unit to Industrial Robotics LLC in the United States, anticipated in early 2027.
- Payment to FBR of the balance of the purchase price less 10%, due before despatch.
- Payment of the remaining 10%, due three months after installation and commissioning.
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