Construction set for disruption
‘Disruption’ is an overused term. But start-up PT Blink is set to dismantle ‘design and construct’ delivery – and is looking for big picture thinkers to take its technology to the next level.
Technology, digitisation and innovation may be driving productivity and profit in other industries around the world, but the construction sector has been slow to embrace change.
With its widespread sites, long lead times and complex supply chains, construction productivity has flatlined for decades. The impact on the economy is enormous. The World Economic Forum, for instance, estimates that a one per cent rise in construction sector productivity could save US$100 billion a year.
Murray Ellen, founder of Australian company PT Blink, says the construction sector is set for a shake-up – and that means rethinking the delivery model that builders have relied upon for decades.
“The current ‘design and construct’ delivery model involves multi-tiered subcontractors and onsite trades, all battling for resources and space on site. Risk of budget blow outs and overruns are a daily reality,” Ellen says.
“Time is the most under-valued commodity in the construction industry. Reducing time delivers much higher returns, greater productivity and a safer environment.”
Ellen, a governor of the Warren Centre for Advanced Engineering at Sydney University, has developed scalable building technology using a patented steel structural backbone strengthened using post-tensioned steel cables. The components are all manufactured and stressed off site, with reinforcement, fire collars and services included. The solutions do not rely on the lift core for stability empowering much faster outcomes.
While PT Blink is a start-up, it’s been three decades in the making. Ellen has worked around the world on large and complex projects. He developed post-tensioned steel technology for long-spanning projects like stadiums and aircraft hangars and recognised the potential for multi-storey construction.
At the heart of PT Blink’s process is an innovative delivery method – design, manufacture and assemble or DMA – which is safer, more accurate, faster and cheaper.
“The efficiency factor alone can be up to per cent,” Ellen explains. The construction schedule on one recently-completed seven-storey project in Brisbane’s Spring Hill was compressed by five months thanks to PT Blink’s process.
While the DMA process is important, the “backbone” of PT Blink’s technology is Australian steel, and Ellen says the material offers efficiency and sustainability benefits, as well as broader economic paybacks.
“We have untapped manufacturing facilities around Australia, and we can compete with China.”
PT Blink is currently designing projects in the USA, where modular construction is increasingly adopted to address rising construction costs and the shortfall of affordable housing supply.
Ellen is passionate about partnerships, and points to the Australian-owned and operated companies that provide components such as bathroom pods, façades, elevators and air-conditioning units on PT Blink projects.
Four contracts are already in place with companies including Multiplex and Fletcher Building. Another 20 projects are in the pipeline. The challenge is to get more builders to adopt a new mindset.
“When they can see there is a different way – one that uses exactly the same resources in half the time – they understand the possibilities of the product.”
In January, the Australian Government introduced equity crowdfunding so small to medium sized businesses can raise money from the crowd. PT Blink is determined to build a community of manufacturers, developers, builders, financiers and more, and recently launched a $2 million equity crowdfunding campaign with OnMarket, an equity crowdfunding intermediary that enables everyday investors to gain part-ownership of early-stage Australian businesses.
“PT Blink is an innovative company with a disruptive technology that will change the way we construct in Australia. If you are open to trying new construction methods, we want to work with you – and we want you to own a part of PT Blink,” Ellen concludes.
Learn more about how you can own equity in PT Blink’s disruptive business.