FBR Limited CEO Update Webinar Transcript (Edited for...

FBR Limited CEO Update Webinar Transcript (Edited for Clarity)

Moderator:Welcome to FBR Limited's CEO Update Webinar. We’re joined by FBR's CEO and founder, Mark Pivac. The session will consist of a presentation followed by a Q&A. Participants will remain muted and may submit questions via the chat.

Mark Pivac (CEO):Good morning. I’m Mark Pivac, CEO at FBR. While we've experienced some tough times, I truly believe in our technology, our team, and the size of the market opportunity ahead.

Strategic Focus

Our aim is to provide stability, articulate a clear strategy, and drive efficiency in our operations. We are focusing on cost reductions, preserving our IP, and generating revenue. Our unique robotic technology—DST—has significant global potential.

Market Opportunities

• Samsung Heavy Industries (SHI): Huge potential in the Korean shipbuilding industry.
• USA: Despite economic headwinds, there is a strong housing market with significant opportunity for Hadrian robots.
• Joint Ventures: One potential JV didn’t proceed, but we’re exploring partnerships with builders, developers, and suppliers.

Robot Development

• H3: Located in the USA; still considered a strong opportunity.
• H4: Being commissioned in Australia; commercial deployment planned for H2 2025.
• H1 & H2: Built over 30 demo structures; evaluating their commercial viability.
• H5: Partially built; could be ready by mid-2026.

Restructuring & Cost Reductions

We’ve reduced annual cash burn from over $34 million to about $10–12 million. We've consolidated operations and maintained core capabilities.

Production Capabilities

We retained a skilled team and in-house workshop, capable of rapid prototyping and low-rate production. This allows for just-in-time part fabrication and reduced lead times.

Revenue Generation

We aim to move from demonstrations to profitability. Wall-as-a-Service is launching. Current reported revenue is from auction fees and demo work; not commercial revenue yet.

IP Portfolio

FBR holds over 400 IP rights across 41 patent families in multiple countries. We plan to expand this further.

Communication & Engagement

We’ll be launching on Investor Hub soon for streamlined communication. Factory tours will be held by invitation. I’ll be attending Sydney Build and Australian Manufacturing Week in May.

Commercialization Path

Our immediate goals:

• Win work and generate revenue
• Reduce funding requirements
• Engage investors

We are also exploring licensing and adjacent applications like shipbuilding automation, roofing, solar farm installation, large-scale welding, and refractory brick lining.

Q&A Highlights

• CR Demo Success: Despite a successful program, CR chose not to proceed. Confidentiality clauses limit detail.
• Hadrien on Trailer: Feasible but complex; truck provides built-in power and housing.
• Strategic Advisers: Confidential. Evaluating M&A, IP monetization, and capital structures.
• Manufacturing Scale: OEM partnerships like with Liber would require 30–100 units/year.
• Other Use Cases: SHI collaboration ongoing; exploring many other industry applications.
• Focus on Hadrien: Commercial deployment now a top priority. Continuous improvements underway.
• Mike’s Departure: Personal decision linked to company downsizing. I’ve stepped in as CEO.
• Partnerships: Open to working with large partners post-revenue proof. Franchising and machine sales also considered.

Closing Remarks

Looking forward to meeting many of you soon. Watch for updates on Investor Hub and other engagement platforms. Let’s move FBR forward together.