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SG Blocks to Build New Facility for Oklahoma Nonprofit, People First Industries
Rhea-AI Impact
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Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
SG Blocks (NASDAQ: SGBX) announced an agreement with People First Industries, a non-profit in Oklahoma, to build a 4,550 square feet, 6-module office facility. This initiative aligns with SG Blocks' mission of providing modular structures that meet safety and green construction standards. The project aims to support individuals with intellectual and developmental disabilities by empowering them through gainful employment. SG Blocks will provide further updates as the project progresses.
Positive
Engagement with a non-profit enhances community relations.
The modular building project aligns with sustainable construction goals.
Negative
Forward-looking statements indicate risks and uncertainties related to project timelines and execution.
People First Industries is a non-profit which provides gainful employment and vocational training for adults with intellectual and development disabilities.
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 executed an agreement with an Oklahoma non-profit, People First Industries, for a roughly 4,550 square feet, 6-module office building and facility.
People First Industries is a non-profit which provides gainful employment and vocational training for adults with intellectual and development disabilities. (Photo: Business Wire)
People First Industries’ mission is to secure or furnish life incentives and gainful employment to employable citizens of the county not presently in the workforce because of mental and/or physical disabilities. The organization is an Oklahoma State Use Program and works to empower individuals with intellectual and developmental disabilities.
“People First Industries is very excited to team up with SG Blocks in building our new Administrative Building,” Shannon Walker, Executive Director of People First Industries explained. “We look forward to a great working relationship and community partnership and we want to thank them for what their company can bring to the table to benefit each adult with disabilities that we service.”
“We’re pleased to be building in Durant and lifting up the area in which our own factories are located,” Paul Galvin, Chairman and CEO explained. “People First Industries provides individualized service plans to meet the vocational needs of each person. It truly is a fantastic organization with laudable goals. Modular is a great fit for organizations such as People First Industries as it’s affordable and efficient. It’s really one of the few ways a nonprofit organization can achieve their goals without a massive government subsidy.”
SG Blocks will continue to provide further updates on the status of the project and when it will break ground. You can learn more about the nonprofit by visiting peoplefirstinc.org.
About SG Blocks, Inc. SG Blocks, Inc. is a leading developer, designer, and fabricator of modular structures, meeting the growing demand for safe and green construction. The firm offers a product that exceeds many standard building code requirements, and also supports developers, architects, builders and owners in achieving faster execution, greener construction, and buildings of higher value. The Company creates purpose built, pre-fabricated modules from wood, steel, and shipping containers into supreme structures. 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 plans to build a roughly 4,550 square feet, 6-module office building and facility for People First Industries and providing further updates on the status of the project and when it will break ground. 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 build the office building and facility for People First Industries as scheduled, 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, 2021 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.
What is the agreement between SG Blocks and People First Industries?
SG Blocks has signed an agreement to construct a 4,550 square feet, 6-module office building for People First Industries in Oklahoma.
How does the project benefit People First Industries?
The project aims to provide a facility that supports gainful employment and vocational training for adults with intellectual and developmental disabilities.
What are the future updates expected from SG Blocks regarding this project?
SG Blocks will continue to provide updates on the project's status and the expected timeline for breaking ground.
What does SG Blocks specialize in?
SG Blocks specializes in developing modular structures that are safe, efficient, and green, using materials like wood, steel, and shipping containers.
