Caterpillar aligns with brick-laying robotics specialist

Sources: Caterpillar Inc., Peoria, Ill.; CP staff

A memorandum of understanding positions Caterpillar and Australia-based Fastbrick Robotics to collaborate on development, manufacturing, sales and servicing of the latter company’s bricklaying technology. Effective for 12 months, it will see Caterpillar take a $2 million stake in Fastbrick Robotics, potentially followed by an additional $8 million investment.

A strategic alliance board of Caterpillar and Fastbrick representatives is tasked with a) developing the framework for collaboration; b) determining how best to offer the bricklaying technology to Caterpillar construction customers; and, c) considering the most appropriate and most profitable business models to apply in each country, state and region.

ā€œCaterpillar is a globally recognized industry leader, and we look forward to collaborating with the company and uniting our teams to share ideas, pursue innovation and explore opportunities to commercialize our unique technology,ā€ says Fastbrick Robotics Managing Director Mike Pivac.