SG ECHO Selected to Design and Create RV, Camping and Glamping Units in Tandem with HTR Investors

Rhea-AI Summary

SG Blocks (NASDAQ: SGBX) has secured a design build contract for approximately 150 RV and Glamping units from HTR Investors. This project aims to deliver innovative accommodations to various campground sites across the U.S.. The glamping market is projected to reach $5.41 billion by 2028, expanding at a CAGR of 14.1%. Units will be produced at the SG ECHO factory in Durant, OK. This collaboration emphasizes sustainability and aims to enhance the camping experience in popular locations such as Moab, UT and Estes Park, CO.

Positive

• Secured a contract for 150 units, indicating strong demand.
• Collaborating with HTR Investors enhances market reach.
• The glamping market is rapidly growing, projected at $5.41 billion by 2028.
• Focus on sustainability aligns with current market trends.

Negative

• Dependence on timely completion and delivery of units could impact reputation.
• Production timeline uncertainties may affect business operations.

SG ECHO intends to fulfill a design build contract of 150 units, with plans to rollout these “glamping” style units across the country.

NEW YORK--(BUSINESS WIRE)-- SG Blocks, Inc. (NASDAQ: SGBX) (“SG Blocks” or the “Company”), a leading designer, innovator and fabricator of modular structures, announced today that SG ECHO has been selected by HTR Investors for full suite architectural consulting and engineering services to build RV and Glamping units. These will be built with the intention to deliver to various campground sites across the U.S. The design build contract is for approximately 150 units.

Park City, Utah, an HTR Investors Glamping & RV target location. (Photo: VisitUtah.com)

HTR Investors is a vertically integrated real estate investment company, formed with the focus in mind to consolidate within the highly fragmented RV and camping industry. HTR is an affiliate of The Davis Companies (“TDC”), which was founded in 1976. TDC is an experienced institutional real estate investor that has purchased or developed approximately $4 billion dollars of institutional quality real estate.

“We’re pleased to be working with HTR Investors on its exciting endeavors into the creative RV, camping and glamping space,” Paul Galvin, Chairman & CEO of SG Blocks explained. “This collaboration is a fantastic use of our technology, and we anticipate an innovative and fruitful working relationship.”

According to Grand View Research, the global glamping market size is expected to reach USD $5.41 billion by 2028. It is expected to expand at a CAGR (compound annual growth rate) of 14.1% from 2021 to 2028.

“SG Blocks has developed a unique and scalable product that we feel fits well with our internal goals towards sustainability and low impact development, and that supports and embraces the communities we engage,” Minh Tran, Managing Partner with HTR commented.

Initial locations will focus on destinations such as Moab, UT, Estes Park, CO, the Berkshires, MA, the NY Adirondacks, Egg Harbor, WI, and Kerrville, TX. “We knew from our initial consultation with HTR Investors that their vision of interactive, unique, experiential properties that are sustainable and nomadic in nature aligned with ours,” Perry Ludy, Sales and Business Development Consultant with SG Blocks stated. “With this, these initial selected locations are only growing in popularity, and we’re pleased to be a part of that.”

Units will be built at the SG ECHO factory in Durant, OK. You can learn more about HTR Investors by visiting their website. The Company will provide further updates on building timelines as available.

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 plans to build approximately 150 units for HTR Investors, plans to rollout “glamping” style units across the country, and providing further updates on building timelines as available. 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 approximately 150 units for HTR Investors as planned, the Company’s ability to rollout “glamping” style units across the country, the Company’s ability to provide further updates 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220111005555/en/

Investor Relations:

PCG Advisory, Inc.

Jeff Ramson

(646) 863-6341

jramson@pcgadvisory.com

Source: SG Blocks, Inc.

FAQ

What is SG Blocks' recent contract with HTR Investors about?

SG Blocks has secured a contract to design and build approximately 150 RV and Glamping units.

How many units is SG Blocks planning to roll out with HTR Investors?

SG Blocks plans to roll out about 150 units across the U.S.

What is the projected size of the glamping market?

The glamping market is expected to reach $5.41 billion by 2028.

Where will the units for HTR Investors be manufactured?

The units will be built at the SG ECHO factory in Durant, OK.

What locations are initial destinations for SG Blocks' glamping units?

Initial locations include Moab, UT, Estes Park, CO, and the Berkshires, MA.