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Earth Gen-Biofuel Inc. (OTC:EGBB) reported significant growth in 2022, expanding its management and product lines at its 100% owned subsidiary, International Housing Concepts Inc. (IHC). The company secured over $18 million in new orders, with 57 homes under contract and plans to introduce new models aimed at the ADU market. IHC's production capabilities are set to increase to 24 homes per month in 2023, with plans for a new facility in Phoenix targeted at high-demand regions. The management team's focus on expanding customer bases and diversifying operations positions EGBB for continued growth.
Earth Gen-Biofuel Inc. (OTC:EGBB) announces its subsidiary, International Housing Concepts Inc. (IHC), has begun manufacturing large home orders for delivery to the Southwest, with initial shipments expected by mid-October. This includes HUD certified homes for a community in Northern Nevada, potentially totaling 400 units. IHC anticipates revenue exceeding $12 million over the next three quarters. The company also aims to establish a Phoenix facility to expand production capacity to 360 homes per year. Sales in the Southwest have already surpassed $1.1 million in 2022.
Earth Gen-Biofuel Inc. (OTC:EGBB) has secured a contract for 64 manufactured homes designed to meet HUD standards. The homes, ranging from 425 to 900 square feet, will be built by International Housing Concepts Inc. (IHC). Deliveries are expected by the end of Q2 2022. This contract marks a significant milestone, as it is the first large order for HUD-certified homes, aimed at addressing housing shortages in Nevada. The company plans to allocate part of its 70,000 sq. ft. facility in Salem, Oregon, for this project and explore new manufacturing locations to meet demand.
Earth Gen-Biofuel Inc. (OTC:EGBB) announces new single piece modular homes in response to customer demand for larger units. The new homes will range from 525 to 900 square feet, with pricing between $90,000 and $120,000. CEO Scott DeBo stated that these designs aim to broaden the customer base and meet HUD building codes. The company is expanding production in Salem, Oregon, and targeting regions where legislation encourages additional dwelling units. This initiative aligns with efforts to address low-income housing challenges in urban areas.
Earth Gen-Biofuel Inc. (OTC:EGBB) reported significant growth in 2021, with sales doubling to over $3 million from 2020. The company's manufacturing subsidiary, International Housing Concepts (IHC), now produces over 13 models of Park Model homes and is expanding production capacity to 25-30 homes monthly at its Salem, Oregon facility. IHC is actively pursuing new markets across multiple states and aims to address the affordable housing crisis in the U.S. with innovative products. The average sales price of homes in Q4 2021 was approximately $79,000.
Earth Gen-Biofuel (OTC:EGBB) has reported a midyear update highlighting a strategic repositioning to enhance its production capacity for tiny homes. Manufacturing operations are centered in a 70,000 sq. ft. facility in Salem, Oregon. New sales strategies targeting RV park developers and municipalities have resulted in increased orders and a broader dealer network. The company plans to build homes in states including Arizona and is addressing affordable housing challenges. Operational upgrades are expected to improve production efficiency and shareholder value.
Earth Gen-Biofuel Inc. (OTC:EGBB) has elected three new members to its Board of Directors: Scott DeBo, Steven Mayer, and Stephen Labov. This expansion aims to support the company’s growth strategy. Stephen Labov will serve as CEO, Scott DeBo as President, and Steven Mayer as Treasurer. Each new member brings extensive experience in various industries, which the company believes will enhance its operational capabilities. The transition follows the resignation of Robert Hayes, who agreed to a severance package.
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