MIAMI, Sept. 20,
2024 /PRNewswire/ -- Safe and Green Development
Corporation ("SG Devco" (NASDAQ: SGD), a leading real estate and
technology development company, today announced the formation of a
joint venture with Resource Group US LLC ("RGUS"), a renowned
expert in compost production and soil rejuvenation technologies.
The Joint Venture (JV) aims to restore degraded lands across
the United States, starting in
Southwest Florida and evolving
into a national production schedule as part of the growth efforts.
This partnership brings together RGUS's Soil Rescue compost
technology and SGD's land development expertise to rehabilitate
nutrient-deficient land for agricultural, commercial, and
residential uses.
The initial phase of the JV will focus on a pilot project at
RGUS's Myakka City, FL site, a
former phosphate mining area. The project will validate the
effectiveness of RGUS's compost technology in revitalizing depleted
soils, with long-term plans to expand the methodology across
North America. The venture seeks
to transform previously unfarmable land into productive,
sustainable resources while also contributing to climate change
mitigation through carbon sequestration.
David Villarreal, CEO of Safe and
Green Development Corporation, commented on the partnership:
"This joint venture represents a significant step toward our
commitment to sustainable development. By leveraging innovative
composting technology, we are not only improving land viability but
also creating economic and environmental opportunities for
communities throughout the region. We believe this partnership will
become a blueprint for future land restoration and sustainable
agricultural practices."
The joint venture between SGD and RGUS is expected to create
substantial revenue opportunities. By restoring degraded lands, the
joint venture can capitalize on increased land value for
sustainable development projects and generate income from
high-yield agricultural production. Additionally, the venture opens
new revenue streams through carbon sequestration credits and
eco-friendly commercial development, further enhancing SGD's
financial growth.
Tony Cialone, CEO of Resource
Group US LLC stated that "This joint venture represents a powerful
synergy between our compost technology and Safe and Green
Development's expertise. Together, we're not just restoring land,
but creating sustainable economic opportunities that will benefit
communities and the environment alike."
About Safe and Green Development Corporation
Safe and Green Development Corporation is a real estate
development company. Formed in 2021, it focuses on the development
of sites using purpose-built, prefabricated modules built from both
wood and steel. The thesis of development is to build strong,
innovative and green, single or multifamily projects across all
income and asset classes. Additionally, a majority owned subsidiary
of SG DevCo, Majestic World Holdings LLC, is a prop-tech
company that has created a real estate AI Platform. The Platform
aims to decentralize the real estate marketplace, creating an
all-in-one solution that brings banks, institutions, home builders,
clients, agents, vendors, gig workers, and insurers into a
seamlessly integrated and structured AI-driven environment. MyVONIA
Innovations LLC, a wholly own subsidiary, is the owner of MyVONIA
which is an AI-powered personal assistant designed to help simplify
daily tasks and improve productivity for individuals and
businesses. MyVONIA aims to assist with managing both personal and
professional tasks.
About Resource Group US LLC (RGUS)
Resource Group US LLC (RGUS) is a leading provider of
sustainable compost production and soil rejuvenation technologies.
Focused on restoring degraded land, RGUS integrates innovative
composting solutions to enhance soil fertility, promote
biodiversity, and support sustainable agricultural practices. With
a commitment to environmental stewardship, RGUS aims to create
long-term value through eco-friendly land management strategies
across North America.
Forward-Looking Statements
This press release may contain forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. All statements other than statements of historical fact
are, or may be deemed to be, forward-looking statements. 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 include statements regarding plans but not
limited to, the JV restoring degraded lands across
the United States starting in
Southwest Florida and evolving
into a national production schedule, the initial phase of the JV
focusing on a pilot project at RGUS's Myakka City, FL site, the project validating
the effectiveness of RGUS's compost technology in revitalizing
depleted soils, long-term plans to expand the methodology across
North America, the JV transforming
previously unfarmable land into productive, sustainable resources
while also contributing to climate change mitigation through carbon
sequestration, improving land viability by leveraging innovative
composting technology and creating economic and environmental
opportunities for communities throughout the region and beyond, the
partnership becoming a blueprint for future land restoration and
sustainable agricultural practices, the joint venture creating
substantial revenue opportunities, capitalizing on increased land
value for sustainable development projects and generating income
from high-yield agricultural production, opening new revenue
streams through carbon sequestration credits and eco-friendly
commercial development and further enhancing SGD's financial growth
and creating sustainable economic opportunities that will benefit
communities and the environment alike.
These forward-looking statements are based on certain
assumptions and analyses made by us in light of our experience and
our perception of historical trends, current conditions, and
expected future developments, as well as other factors we believe
are appropriate in the circumstances. Important factors that could
cause actual results to differ materially from current expectations
include, among others, the Company's ability through the JV to
restore degraded lands across the United
States as planned, the Company's ability through the JV to
transform previously unfarmable land into productive, sustainable
resources while also contributing to climate change mitigation
through carbon sequestration, the Company's ability through the JV
to improve land viability by leveraging innovative composting
technology and creating economic and environmental opportunities
for communities throughout the region, the Company's ability to
create substantial revenue opportunities through the JV, the
Company's ability to monetize its real estate holdings, and other
factors discussed in the Company's Annual Report on Form 10-K for
the year ended December 31, 2023, and
its subsequent filings with the SEC. Readers are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of the date hereof. All forward-looking statements
are qualified in their entirety by this cautionary statement, and
the Company undertakes no obligation to revise or update this press
release to reflect events or circumstances after the date
hereof.
For investor relations and media inquiries, please contact:
Barwicki Investor Relations
Andrew@Barwicki.com
516-662-9461
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SOURCE Safe and Green Development Corporation
