SG Blocks to Build First Prototype of Mobile Hospitality Units in New York State This Quarter
Units Can be Seasonally Relocated, A Hospitality Industry First
NEW YORK--(BUSINESS WIRE)-- SG Blocks, Inc. (NASDAQ: SGBX), a leading designer, fabricator and innovator of container-based structures, today announced that it is building a prototype for mobile hospitality units in the third quarter of 2019. When fully completed, the total project revenue is estimated to be approximately $4 million.
The total order, expected to be 45 proprietary production units, will be delivered to an initial location in Hudson Valley, New York. This 55-acre area is currently under renovation and is poised to become a leading eco-resort in the region.
“This prototype marks the beginning of a new chapter in the hospitality industry, offering guests hotel suites that can be seasonally moved,” said Paul Galvin, Chairman and CEO of SG Blocks. “We are excited to see the Developer’s vision come to reality.”
SG Blocks, Inc. utilizes code-engineered cargo shipping containers to construct and provide safe, durable and environmentally-friendly modular structures. It was the first container-based construction company recognized by the International Code Council with an ESR number. Clients have included Starbucks, Marriott, Taco Bell, Aman, Equinox and several branches of the U.S. military.
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.
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. 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 based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in SG Blocks' filings with the Securities and Exchange Commission. Thus, actual results could be materially different. SG Blocks expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
Rubenstein Public Relations
Source: SG Blocks, Inc.
Released July 24, 2019