SMARTSTAIR SIGNED

Project "SMARTSTAIR" data sheet

The following table provides information about the project.

 Partnership

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Map

 Project objective

Founded in 2012, Odico A/S is an international pioneer in the emerging field of ro¬botics for the construction industry. In 2014, Odico became the first company in the world to produce form¬work (i.e. molds for concrete casting) with robotic hotwire cutting and Expanded Polystyrene (EPS) blocks for a commercial project – the iconic Fjordenhus in Vejle (Denmark) designed by the world-famous artist Olafur Eliasson. We have completed over 250 robot manufacturing projects in 6 countries, in¬cluding several high-profile construction projects, such as the Opus Dubai building. Today, producing formworks (i.e. molds) for a typical concrete staircase takes up to 4 person-days. Our SmartStair innovation will do this in under 30 minutes; 64x faster than existing technology. SmartStair is a containerized, full-feature robot production system developed by Odico and currently patent-pending. It replaces non- value-added manual work and enables concrete manufacturers to slash formwork manufacturing costs by up to 88%. The system comprises a) an industrial robot with b) a proprietary wire-cutting tool, c) groundbreaking robot control software developed by Odico, and, d) all assembled in a containerized Internet-of-Things (IoT) platform. With the easy-to-use SmartStair App for iPad, the concrete pre-manufacturer designs the formwork according to project specifications, in just a few minutes. SmartStair addresses our customers’ severe pain points: building formworks for staircases is expensive, time-intensive and generates 100M tons of timber waste annually in Europe alone. The market opportunity is massive. Our Total Addressable Market is €2.13Bn and will reach €2.48Bn by 2026 at a CAGR of 5%. We aim to rapidly penetrate this market by introducing a far superior technology. Through our hardware software licensing business model, we expect a market share of 1.8% (of Serviceable Available Market), a turnover of €23.5M, EBITDA of €6.5M and headcount of 87 people by 2025.