PT Blink, a building technology company that aims to reduce construction time by 40-50% is seeking to raise up to $2 million in crowdfunded equity using platform OnMarket.
PT Blink’s scalable building technology earns revenue from royalty income by licensing its proprietary Blink Technology to property developers, builders, designers, suppliers and assemblers. The PT Blink technology” is a method of constructing multi-storey buildings using PTBlink’s unique post tensioned steel technology that creates a structural backbone manufactured safely off site, and delivered to site for assembly. This technology allows the building to be assembled in a way which is dramatically safer, more accurate, faster and cheaper,” according to PT Blink.
The PT Blink technology was developed for long -spanning projects like stadiums and aircraft hangars and recognised the potential for multi-storey construction.
In addition to manufacturing offsite, reducing costs and risks, the technology allows for reduced use of materials, says Murray Ellen, PT Blink founder.
“Typically, one would use anywhere between 50 and 60 percent less material,” Murray says. “From a sustainability/ecological perspective, it’s way less than a conventional structure. It’s a secondary selling point to the economic gain.”
Murray is seeking to scale globally, with initial focus outside Australia being in the USA, the UK and New Zealand. PT Blink is currently designing projects in the USA, where modular construction is increasingly being adopted to address rising construction costs and the shortfall of affordable housing supply.
“The whole thing for me is about scale,” Murray says. “We’re not a construction company, and we don’t want to be one. It’s about the different philosophy – the software platform. To have a manufactured product like a bathroom pod, built in a factory, out of the weather, which comes with a series of attributes including warranty and built-in delivery costs, with a flick of a switch, to assimilate with other components means you have a manufacturing environment with assembly on site in half the time. This also means that it reduces the number of trucks coming to a site, or the number of removal trucks going away.”
Proceeds raised through the equity crowdsourced campaign would go to fund demonstration sites in Australia, Murray says. At the demonstration sites, developers can program in their design specifications, order the manufactured backbone which is produced by suppliers such as Onesteel, and order windows, bathroom pods, elevators and other components from partner companies such as James Hardie.
“You cost the components with our partners,” Murray says. “This changes the costing process and in that step alone, you gain about 10% efficiency. That means the internal rate of return can almost double.”
PT Blink went down the road of equity crowdsourcing to attract new investors, Murray says.
“The reason we went for crowdfunding is to get a broader breadth of investors, like minded younger people who want to invest in something, and believe in change,” he says.
Australia is a newcomer to the equity crowdsourced market, with new legislation passed in 2017. Under the legislation, companies with less than $25 million in gross assets can raise up to $5 million per year. Retail investors can invest up to $10,000 per company per year. Six equity crowdfunding intermediaries, including OnMarket, have licences.
For more information on the PT Blink offer, click here