Safe & Green Holdings Announces Approval of 2024 Audit of ESR Certification

Rhea-AI Summary

Safe & Green Holdings Corp. (NASDAQ: SGBX) has successfully completed its annual audit for 2024/2025, maintaining its ESR certification for using shipping containers in modular construction. This certification, first received in 2017, is issued by the International Code Council (ICC) Evaluation Service and is important for regulatory approval and code compliance.

The ESR certification allows SGBX to continue certifying intermodal containers as approved building materials in their projects. This evaluation program has been instrumental in mainstreaming the use of intermodal containers in construction, with SGBX at the forefront of this innovation.

Positive

• Maintained ESR certification for using shipping containers in modular construction
• Successful completion of annual audit for 2024/2025 by ICC Evaluation Service
• Continued ability to certify intermodal containers as approved building materials

Negative

• None.

LaCoste PopUp – Coachella 2012

Miami, FL, July 26, 2024 (GLOBE NEWSWIRE) -- Safe & Green Holdings Corp. (NASDAQ: SGBX) (“Safe & Green Holdings” or the “Company”), a leading developer, designer, and fabricator of modular structures, previously announced in May 2024 that the Company received recertification of its ESR for certification and use of shipping containers in modular construction from the International Code Council (ICC). We are now pleased to announce the company has completed its annual audit for 2024 performed by the ICC Evaluation Service for 2024/2025. In 2017, Safe & Green Holdings Corp. (formerly SG Blocks, Inc.) received the first ESR certification ever issued for a recycled product to be re-used as a construction material.  

ICC Evaluation Service (ICC-ES) is the industry leader in performing technical evaluations of building products, materials, and systems for code compliance. Agencies use evaluation reports to help determine code compliance and enforce building regulations. Manufacturers use reports as evidence that their products (and this is especially important if the products are new and innovative) meet code requirements and warrant regulatory approval.

Paul Galvin, Chairperson and CEO of Safe & Green Holdings, remarked, "We are pleased that the ICC Evaluation Service has approved the audit for our ESR (3764) which allows us to continue to certify intermodal containers as approved building materials in our projects.”

David Cross, Senior Vice President of Business Development at Safe & Green Holdings, further noted, “This evaluation and certification program by the ICC has been instrumental in elevating the use of intermodal containers into mainstream construction and we are always proud to have been at the forefront of working with the ICC to make that happen.”

About Safe & Green Holdings Corp.

Safe & Green Holdings Corp., a leading modular solutions company, operates under core capabilities which include the development, design, and fabrication of modular structures, meeting the demand for safe and green solutions across various industries. The firm supports third-party and in-house developers, architects, builders, and owners in achieving faster execution, greener construction, and buildings of higher value. The Company is the majority shareholder in Safe and Green Development Corporation, a leading 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, sourced from one of SG Holdings’ factories and operated by its SG Echo subsidiary.

For more information, visit https://www.safeandgreenholdings.com/ and follow us at @SGHcorp on Twitter.

Safe Harbor Statement

Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are based upon current estimates and assumptions and include statements regarding the Company’s completion of its audit by ICC-ES regarding the Company’s ESR certification. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, but are not limited to, the 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, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and we undertake no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.

Investor Relations:
Crescendo Communications, LLC
212-671-1020
SGBX@crescendo-ir.com

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• LaCoste PopUp – Coachella 2012

FAQ

What certification did Safe & Green Holdings (SGBX) receive for its modular construction?

Safe & Green Holdings (SGBX) received and maintained its ESR certification from the International Code Council (ICC) for using shipping containers in modular construction.

When did SGBX complete its annual audit for the ESR certification?

SGBX completed its annual audit for the ESR certification for 2024/2025 in July 2024.

How does the ESR certification benefit Safe & Green Holdings (SGBX)?

The ESR certification allows SGBX to certify intermodal containers as approved building materials in their projects, facilitating regulatory approval and demonstrating code compliance.

What was significant about SGBX's ESR certification in 2017?

In 2017, SGBX (then SG Blocks, Inc.) received the first ESR certification ever issued for a recycled product to be re-used as a construction material.