Earth Gen Biofuel Inc.’s Subsidiary Expands Manufactured Home Sales Into Nevada and Arizona

Rhea-AI Summary

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.

Positive

• Initial home deliveries expected to generate over $12 million in revenue over the next three quarters.
• Current production contracts are expected to support substantial sales in 2022 and 2023.
• Sales in the Southwest have already exceeded $1.1 million in 2022, with plans for further growth.

Negative

• None.

Salem, Oregon, Aug. 30, 2022 (GLOBE NEWSWIRE) -- Earth Gen-Biofuel Inc. (OTC:EGBB) wholly owned manufacturing subsidiary, International Housing Concepts Inc. (“IHC”), starts manufacturing of two large home orders for delivery to the Southwest. First deliveries are scheduled for mid-October. Pending factory certification, these production runs are scheduled to include HUD certified homes for a multi-home residential community in Northern Nevada and Park Model Homes for a project in Arizona.

The Nevada homes are being manufactured as part of a multiphase project that the developer has indicated could include up to 400 homes. The Sparks project is being developed as the Chalets Residential Community and will consist of a single-unit manufactured homes.

Scott DeBo, IHC President stated, “Achieving this first production order for these units is a validation of our plan to support the market trend for developers using larger floor plans in their developments. IHC’s expectation is for current contracts to be a substantial part of 2022 and 2023 sales. Based on forecasted sales these home deliveries have the potential to reach over $12,000,000 over the next three quarters if the delivery and manufacturing schedules are met.”

Mr. DeBo added, “Current production contracts validate the hard work and creativity of our product development team and is a good example of our commitment to working closely with our clients to build the products they envision. IHC is working with other developers to design homes that will meet certain local and national building codes for manufactured housing as well as consumer financing requirements”.

IHC has been delivering our Park Model homes specifically designed for the Southwest over the last five months. These homes represent the expansion of the company’s sales strategy to build an order book that will support the planned expansion into a Phoenix regional production facility. Sales in the region in 2022 have already exceeded $1,100,000. This group of homes is now being produced in the Salem facility. An additional $1,800,000 in homes is expected to be built and delivered to the Southwest by year end if current production levels remain constant.

The company’s goal based on existing relationships in the Pacific Northwest, and now the Southwest is to build order-flow to over 300 homes a year to support IHC’s entry into the Southwest region. The Company expects to move the production of HUD home orders for Nevada and Arizona to the Phoenix facility. The new facility will produce the Company’s successful line of Park model RVs and the larger HUD certified models. The company is still in the process of finalizing negotiations for a new factory location and while success is not guaranteed, we continue to plan for the start of manufacturing late in 2022 or Q-1 2023.

The Phoenix facility is being designed to produce 360 homes a year and will accommodate the construction of homes up to 990 square feet. The new designs introduced in 2022, include larger homes from 425 to 980 square feet, ski chalets, 4 star resort cabins and homes with upgraded designs that recognize local environments.

More About the Company

Earth Gen-Biofuel Inc. produces manufactured homes 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 sales are currently focused in the Pacific Northwest and the Southwest. Sales efforts are focused on residential communities and retail dealers selling individual customers. IHC prides itself on working closely with developers to create products that match their vision for their communities and needs of their potential residents.

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 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 current with its disclosure requirements with the publication of its disclosure information and unaudited financial statements on the OTC Markets information pages. Public disclosures that may be required by other investor regulatory organizations may be limited based on current level of disclosure available to investors adding additional risk to potential investors.

View our homes at www.homesfromIHC.com

Company Contact
Scott DeBo, President of Earth Gen Biofuel Inc.
info@earthgenbiofuel.com
800-991-8190

FAQ

What is the status of Earth Gen-Biofuel Inc.'s manufacturing orders as of August 2022?

Earth Gen-Biofuel Inc. has started manufacturing large home orders for delivery to the Southwest, with initial deliveries scheduled for mid-October.

How much revenue is expected from the new home deliveries by Earth Gen-Biofuel Inc.?

The home deliveries are anticipated to generate over $12 million in revenue over the next three quarters.

Where will the new manufacturing facility for Earth Gen-Biofuel Inc. be located?

The new manufacturing facility is planned to be located in Phoenix, designed to produce 360 homes per year.

What types of homes is Earth Gen-Biofuel Inc. producing for the Southwest market?

The company is producing HUD certified homes and Park Model homes tailored for a multi-home residential community and various projects in Arizona.