Ann: FBR Investor Presentation, page-15

Post completion of 5-10 demo builds by Sep, there is a waiting period up to 45 days, but that's only if CRH doesn't wish to enter the next phase (20x units) straight away in Sep-Oct, meaning the waiting period can be waved.

By all best scenario, market can almost start pricing in $40m revenue on executing the 1st batch of 20 units by Sep-Oct already!!!!

1st 100 units revenue to FBR.AU = $2m x 100 = $200m (USD)
Follow up 200 units to FBR.AU = $2.5m x 200 = $500m (USD) to be supplied by OEM.
Servicing cost $220k x 300 = $60m per year

No wonder FBR has been manufacturing the additional 3 US spec units, anticipating this goes well ahead, the first 3 units would be required by Oct already, there is no way FBR can keep up with this pace of demand by manually assumbling at Sultana road facility, but once this runs in, Liebherr would believe it's a profitable model which may help accelerating the OEM contract process.

Overall it's a grea deal:

• CRH provides loan to JV
• JV orders HX from FBR
• JV pays service cost to FBR
• JV orders bricks from CRH
• JV generate revenue by providing builders Wall on call service (revenue $X per year, anyone?)
  
• CRH almost bares all the risk of kick starting this JV program with its capital injection, $40m loan to an unproven new tech new business model, showcase the capability of HX.