SG Blocks Launches New Container-Based Project in Dallas, Texas
February 14 2020 - 8:00AM
Business Wire
SG Blocks, Inc. (Nasdaq: SGBX) (“SG Blocks” or the “Company”), a
leading designer, innovator and fabricator of container-based
structures, today announced that it will begin production of a new
container-based project in March.
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the full release here:
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“Ranchbox” from SG Blocks (Photo:
Business Wire)
This approximately $50,000 “Ranchbox” will be coming to the
market via SG Residential, a premier provider of container based
home solutions and a licensee of SG Blocks. The Ranchbox offers
homebuyers and outdoor enthusiasts turn-key solutions for temporary
and long term living that are durable, affordable and easily
deployed in remote locations. The Ranchbox can function as a
permanent home using city services or operate remotely “off the
grid” with optional generators and portable water and waste systems
for extended periods. In addition, their unparalleled strength and
use of steel provides the most secure and weather resistant
structures available today.
The home will be constructed out of SG Blocks’ signature
GreenSteel™, utilizing Cortense steel, the structural core and
shell of an SG Blocks building. Cortense steel provides the
structures hurricane and earthquake resistance. With the increased
intensity of extreme weather events, this resilient foundation for
live-work environments has become more critical than ever. SG
Blocks utilizes code-engineered cargo shipping containers to
construct and provide safe, durable and environmentally-friendly
structures. It has an exclusive ESR number, which was granted by
the International Code Council, ensuring its ability to meet and
exceed all international building codes.
Paul Galvin, CEO of SG Blocks, commented, “This is another great
example of SG Blocks, this time through our licensee SG
Residential, using innovation to provide rapidly deployable
solutions to address not only the affordable housing crisis but
also a growing need for diverse types of homes. These structures
are efficient and resilient, utilizing recycled components. They
are intermodal, and can be installed in a single day with add-on
capacity for future expansion. The well-documented housing crisis
is out of control and, absent new solutions, will only worsen,
creating public health issues and driving economic challenges for
municipalities around the country. Our container-based offerings
quickly and affordably address this situation, providing ideal
solutions for millennials, seniors, ADU and rental markets. SG
Residential provides a gentle and cost-effective new way for cities
to address the housing crisis, changing the paradigm and avoiding
the lengthy, politically-charged and inadequate solutions of the
past.”
About SG Blocks, Inc.
SG Blocks, Inc. is a premier innovator in advancing and
promoting the use of code-engineered cargo shipping containers for
safe and sustainable construction. The firm offers a product that
exceeds many standard building code requirements, and also supports
developers, architects, builders and owners in achieving greener
construction, faster execution, and stronger buildings of higher
value. Each project starts with GreenSteel™, the structural core
and shell of an SG Blocks building, and then customized to client
specifications. For more information, visit
www.sgblocks.com.
Safe Harbor Statement
This release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. In
some cases, forward-looking statements can be identified by
terminology such as "may," "should," "potential," "continue,"
"expects," "anticipates," "intends," "plans," "believes,"
"estimates," and similar expressions and includes statements
regarding positioning SG Blocks for future profitability, lower
capital requirements and the flexibility to focus more of the
Company’s resources and efforts on new business development and
lead generation for the benefit of future growth, the financial
profile for the Company’s residential business including lower
operating costs and requiring significantly less cash investment,
while also lowering project-level execution risk, the Monticello
and Ridge Avenue projects setting us on a path to being cash flow
positive in 2020 and positive outcomes from this strategy becoming
more evident in the Company’s financial statements in the next two
to three quarters as these projects progress, being well-positioned
to capitalize on new commercial and military opportunities. These
forward-looking statements are based on management's expectations
and assumptions as of the date of this press release and are
subject to a number of risks and uncertainties, many of which are
difficult to predict that could cause actual results to differ
materially from current expectations and assumptions from those set
forth or implied by any forward-looking statements. Important
factors that could cause actual results to differ materially from
current expectations include, among others, the Company’s ability
to position SG Blocks for future profitability, lower capital
requirements and the flexibility to focus more of the Company’s
resources and efforts on new business development and lead
generation for the benefit of future growth, the Company’s ability
lower operating costs and require significantly less cash
investment, while also lowering project-level execution risk in the
Company’s residential business, the Company’s ability to use the
Monticello and Ridge Avenue projects to set us on a path to being
cash flow positive in 2020, the Company’s ability to achieve
positive outcomes from this strategy in the next two to three
quarters as these projects progress, the Company’s ability to
capitalize on new commercial and military opportunities, the
Company’s ability to maintain compliance with the NASDAQ listing
requirements, and the other factors discussed in the Company’s
Annual Report on Form 10-K for the year ended December 31, 2018 and
the Company’s subsequent filings with the SEC, including subsequent
periodic reports on Forms 10-Q and 8-K. The information in this
release is provided only as of the date of this release, and we
undertake no obligation to update any forward-looking statements
contained in this release on account of new information, future
events, or otherwise, except as required by law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200214005088/en/
Media: Rubenstein Public Relations Christina Levin Account
Director 212-805-3029 clevin@rubensteinpr.com
Investor: James Carbonara Hayden IR (646) 755-7412
james@haydenir.com or Brett Maas Hayden IR (646) 536-7331
brett@haydenir.com
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