Safe & Green Holdings Corp. - SGBX STOCK NEWS

SG Blocks, Inc. (SGBX) reported significant growth in its development pipeline through its subsidiary, SGB Development Corp. The company outlined approximately 2,250 residential units and revealed a potential gross revenue of over $367 million from manufacturing over the next 4-5 years. Additionally, revenues from asset sales and development fees are estimated between $50-$70 million, while $40 million is expected from quarry and industrial projects. The company remains committed to diverse geographic and asset strategies to minimize risk and enhance returns.

SG Blocks announces collaboration with Blink Charging Co. to deploy over 300 EV chargers in the Lago Vista, Texas project. This effort expands their 2020 partnership, aiming to enhance affordable housing with EV infrastructure. The project utilizes modular construction, reducing environmental impact and completion time. Blink’s CEO highlights Austin's innovation in EV tech, aligning with projections of 100 million EVs by 2030. SGB DevCorp plans to leverage Blink’s technology in various developments, focusing on maximizing profits in sustainable transportation.

SG Blocks (NASDAQ: SGBX) announced that its manufacturing facility, SG ECHO, has been selected to produce a secured pre-fabricated facility for a U.S. Military SCIF. This new contract supports a prime bid won by a leading contractor. Located in Durant, Oklahoma, SG ECHO spans approximately 70,000 square feet and has served various markets, including military and government. The facility is set to be completed in Q1 2022. The company aims to leverage this project to expand its presence in military and federal contracts.

SG Blocks reported approximately $8.8 million in quarterly revenue and $29.9 million year-to-date for Q3 2021, marking a 2000% increase from the previous year. The company plans to become cash flow positive in Q4 2021, with significant advancements in multiple project verticals, including residential and commercial sectors. SG Blocks has a current construction backlog of around $20.1 million and 15 projects under contract. The firm is also enhancing manufacturing capacity to meet increasing demand while addressing challenges from legacy projects impacted by supply chain issues.

SG Blocks (NASDAQ: SGBX) announced a $750,000 forgivable loan from the Durant Industrial Authority to renovate the Waldron facility, its second manufacturing site in Oklahoma. The renovation aims to create 75 new jobs and enhance production capabilities. Anticipated renovations are set to commence in December 2021. The company emphasizes its commitment to economic growth in Durant, which is strategically located near major cities like Dallas and Oklahoma City.

SG Blocks, Inc. (NASDAQ: SGBX) has signed a purchase agreement for a 4,063,276 square foot mixed-use property in Durant, Oklahoma. The agreement, expected to close within 60 to 90 days, aims to convert the land for manufacturing space and approximately 300 residential units. The strategic location near key highways and local attractions, including the Choctaw Nation Casino, is projected to benefit both housing demand and manufacturing operations. CEO Paul Galvin emphasized the company's commitment to the Durant community and the potential for job creation.

SG Blocks, Inc. has announced the appointment of James Henderson as the new Director of Medical Business Development. With over 10 years of experience in medical sales, he will focus on expanding the company's medical sector, which has experienced significant growth in the past year. Henderson previously worked at Owens & Minor Inc., managing a revenue-generating sales territory. The CEO expressed confidence in Henderson's ability to drive revenue and enhance the company's strategic growth initiatives.

SG Blocks, Inc. (NASDAQ: SGBX) will host a conference call on November 15, 2021, at 4:30 p.m. ET to discuss its third-quarter results for the period ending September 30, 2021. The call will be led by CEO Paul Galvin and will include a live Q&A session. Financial results will be released before the call. A replay will be available post-call until August 30, 2021. SG Blocks specializes in using code-engineered shipping containers for sustainable construction, aiming to exceed building code requirements.

SG Blocks (NASDAQ: SGBX) has leased an additional manufacturing plant in Durant, Oklahoma, intending to add two new production lines that will triple its manufacturing capacity. This strategic move, transitioning from a purchase to a lease, allows the Company to allocate capital to other business areas. Plans include hiring 75 new local employees over two years and utilizing the facility for projects in Q2 2022. The expansion aims to enhance operational efficiency and project scheduling.