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SG Blocks, Inc. Signs Distribution Agreement With Sanitec Industries LLC
Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
SG Blocks (NASDAQ: SGBX) has secured a ten-year exclusive distribution license for the Sanitec Microwave Disinfection Unit in New York, with options to expand to other states. This partnership with Sanitec Industries, known for its sustainable waste management solutions, positions SG Blocks to enhance its offerings in eco-friendly waste management. The Sanitec unit transforms hazardous biomedical waste into safe, non-infectious material. A new entity, SG Environmental Solutions Corp., will focus on sustainable infrastructure products.
Positive
Secured a ten-year exclusive distribution agreement for Sanitec’s Microwave Disinfection Units, enhancing market reach.
Partnership aligns with SG Blocks' focus on eco-friendly waste management solutions, potentially leading to new revenue streams.
Formation of SG Environmental Solutions Corp. to pursue sustainable infrastructure opportunities.
Negative
None.
SANITEC, an eco-friendly waste management company, has provided SG Blocks with a national distribution license for its Microwave Disinfection Unit (MDU)
JACKSONVILLE, Fla.--(BUSINESS WIRE)--
SG Blocks, Inc. (NASDAQ: SGBX) (“SG Blocks” or the “Company”), a leading developer, designer, and fabricator of modular structures, announced today that the Company has entered into a ten year exclusive distribution agreement with Sanitec Industries LLC (“Sanitec”), a sustainable waste management company that is the global patent holder for the Sanitec Microwave Healthcare Waste Disinfection System™ for the State of New York with a right to expand to other states.
Pictured above is the Sanitec Industries model (Photo: Business Wire)
The Sanitec Microwave Disinfection Unit is designed to shred and disinfect biomedical waste, rendering the waste disinfected, unrecognizable, and of no greater risk to the public health than (normally associated with) residential household waste.
Sanitec Industries existing customers are primarily centered in healthcare facilities nationwide, ranging from large hospital systems to single practitioner doctors’ offices. These entities utilize Sanitec Microwave Healthcare Waste Disinfection Systems to transform dangerous healthcare waste into low-volume, unrecognizable, non-infectious material that requires no further treatment and can be safely disposed of in municipal landfills.
SG Blocks has entered into an exclusive distribution agreement that allows the Company to purchase, deploy, market and maintain Sanitec’s Microwave Disinfection Units in the State of New York, with a right to right to expand to other states on a ten-year exclusive basis if the Company deploys other units in other states. Sanitec’s products are expected to align greatly with SG Blocks’ uniform and efficient building method, which emphasizes high quality materials, durability, and sustainability. The benefits of Sanitec’s products are intended to include, but are not limited to, reduced costs, reduced liability and promotion of a cleaner environment.
SG Blocks is forming a new entity, SG Environmental Solutions Corp., to meet market need for sustainable, eco-friendly waste management and recycling infrastructure products.
“We are thrilled to share that we have annexed another vertical into our already nimble roster, with SG Environmental Solutions,” Paul Galvin, Chairman and CEO of SG Blocks explained. “We have been searching for the right match within this industry for some time now, and we believe Sanitec Industries is a perfect fit for this new sector. Its state of the art technology is fully automated, self-contained, extremely efficient, and environmentally compatible. We are very happy with our decision and look forward to its future success.”
Sanitec has worked with clients such as Columbia HCA Hospital, Korea Environment Corp, VA Medical Center, JFK Medical Center, and multiple universities such as University of Alabama, UC Davis and UC Irvine to name a few.
SG Blocks plans to utilize its existing and developing medical industry channels to advance sales of the Sanitec technology.
About SG Blocks, Inc.
SG Blocks, Inc. is a premier innovator in advancing and promoting the use of code-engineered cargo shipping containers for safe and sustainable construction. The firm offers a product that exceeds many standard building code requirements, and also supports developers, architects, builders and owners in achieving greener construction, faster execution, and stronger buildings of higher value. Each project starts with GreenSteel™, the structural core and shell of an SG Blocks building, and then customized to client specifications. For more information, visit www.sgblocks.com.
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 Sanitec’s products aligning greatly with SG Blocks’ uniform and efficient building method, Sanitec’s products reducing costs, reducing liability and promoting a cleaner environment, Sanitec Industries being a perfect fit for a new Company sector and utilizing the Company’s existing and developing medical industry channels to advance sales of the Sanitec technology. While SG Blocks 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, among others, the Company’s ability to align Sanitec’s products with its building method, the ability of Sanitec’s products to reduce costs, reduce liability and promote a cleaner environment, the Company’s ability to advance sales of the Sanitec technology and deploy Sanitec’s products as planned, the Company’s ability to expand within various verticals as planned, the Company’s ability to position itself for future profitability, the Company’s ability to maintain compliance with the NASDAQ listing requirements, and the other factors discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 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.
