Earth Gen Biofuel Inc. Expands its Product Line to Meet Customer Demands

Rhea-AI Summary

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.

Positive

• Launch of new modular homes, expanding product offerings.
• Market demand for larger homes aligns with new designs.
• Pricing strategy set between $90,000 and $120,000 attracts a broader audience.
• Expansion of production facilities in Oregon indicates growth potential.
• Targeting states with supportive legislation for additional dwelling units.

Negative

• Company is not current with public disclosures, adding risk for investors.
• Lack of detailed financial information may affect investor confidence.

Salem, Oregon, Jan. 11, 2022 (GLOBE NEWSWIRE) -- Earth Gen-Biofuel Inc. (OTC:EGBB) is announcing additions of a new series of homes to production that will include single piece modular homes. As one of America’s premier builders of manufactured homes of under 1000 square feet, the Company is responding to its customers need for modular homes larger than the Park Model floor plans that have accounted for all sales in 2021, and that are still 100% of the 32 homes slated for delivery in the 8 weeks of 2022. The new designs include larger homes built to meet HUD building codes that are still in the company’s “Sweet Spot” for manufacturing homes under 1000 square feet.

Scott DeBo, IHC President stated “In an effort to grow sales and our customer base, we have worked with our clients and home builders to design homes that will serve the needs of community developers for one and two bedroom homes. These homes are intended to meet building codes required by HUD. We believe the new additions to our product line will open up sales opportunities to a broader market. The company has expanded production in our Salem Oregon facilities and is planning on developing new factory locations to support the manufacture of these additional floor plans.”

The new product line includes floor plans from 525 to 900 square feet of interior living space. We expect pricing to range from $90,000 to $120,000 based on the specific residential finish package. These new floor plans are compatible with our other designs in style and finishes. Marketing of the new floor plans fits well into our sales and marketing plans as customers for our current line of Park Model RVs overlaps with the same buyer for the new home designs. Each of these new floor plans can be modified to meet the many regional markets that IHC is serving. The Company’s sales are currently focused in three regions, which include The Pacific Northwest for residential and Recreational Communities, City Living Residential Communities and Southwest Communities in Desert areas. We believe that there is a rapidly growing demand for backyard Accessory Dwelling Units (ADUs) in California, Oregon and Washington.

The company currently markets in three of the key states where legislation has been passed to encourage home owners to add extra living units to their single family properties. The states of Oregon, Washington and California are some of the most aggressive in supporting this market. All three states have enacted legislation that supports the backyard single family addition concept. New regulations change existing zoning to encourage Counties and Cities to will allow single family home owners to add units to their properties to provide more housing where it is needed most in the residential communities that are close to jobs. It is anticipated that these changes will add income opportunities for home owners and provide additional housing inventory in an effort to make housing more affordable by increasing supply.

IHC is still in active discussions with community planners in both the Northeast and Southwest United States. The Company’s 2022/23 marketing plan targets planned development communities, as well as state and local municipalities with plans to address the low-income housing issues facing many of our nation’s larger cities. We are working with these organizations to find solutions to providing affordable housing in communities that have an increasing demand for new houses.

About the Company
Earth Gen-Biofuel Inc. produces manufactured homes and products under the corporate name International Housing Concepts Inc. Our goal is not just building housing but creating living environments that meet the needs of owners and enhance the concept of comfortable living in a sustainable and manageable space. The Company’s main manufacturing facility is in Salem, Oregon. The Company is targeting the domestic needs for housing solutions for broad segments of the market for homes under 1000 square feet. The company sells its products to Tiny Home Residential Communities, RV Parks, campgrounds and retail dealers who provide home owners with back yard auxiliary living spaces. The goal is to deliver high quality homes that employ technology that works for owners of our homes and that meet the requirements of sustainability for our environment and the locations where our homes form new communities.

Forward-Looking Statement
This press release may contain “forward-looking” information within the meaning of the Private Securities Litigation Reform Act of 1995. In accordance with the safe harbor provisions of this Act, statements contained herein that look forward in time that include everything other than historical information, involve risks and uncertainties that may affect the Company’s actual results. There can be no assurance that such statements will prove to be accurate and there are a number of important factors that could cause actual results to differ materially from those expressed in any forward-looking statements made by the Company, including, but not limited to, plans and objectives of management for future operations or products, the market acceptance or future success of our products, and our future financial performance. Further caution is given as the Company is not current with its public disclosures and limited information about the Company’s financial condition or operations is available to investors adding additional risk to potential investors.

View our homes at www.homesfromIHC.com
Investor Relations Contact
Hayden Financial Corp. of Florida
Robert Gartzman, President
info@earthgenbiofuel.com
Phone 800-991-8190

FAQ

What new products is Earth Gen-Biofuel Inc. (EGBB) launching in 2022?

Earth Gen-Biofuel Inc. is launching a new series of single piece modular homes ranging from 525 to 900 square feet.

What is the expected price range for the new homes by EGBB?

The new homes are expected to be priced between $90,000 and $120,000 based on specific residential finishes.

How is EGBB responding to housing demand in Oregon and California?

EGBB is expanding its product line to meet the growing demand for backyard Accessory Dwelling Units (ADUs) in Oregon and California, in areas with new supportive legislation.

What regions is EGBB focusing on for its new housing solutions?

EGBB is focusing on the Pacific Northwest, Southwest, and urban areas where there is a need for affordable housing.

What challenges does EGBB face with its public disclosures?

EGBB is not current with its public disclosures, which could deter potential investors due to the risks associated with limited financial information.