SG Blocks Announces Exclusive Partnership with Blockchain Holdings Capital Ventures to Build Next Generation Modular Data Centers
Emerging Investment Vehicle for Commercial Real Estate with Energy Footprints in Opportunity Zones Now Utilizes SG Blocks Safe & Green Containers
BROOKLYN, N.Y.--(BUSINESS WIRE)-- SG Blocks, Inc. (NASDAQ: SGBX), a leading designer, fabricator and innovator of container-based structures, has signed a master service agreement with Blockchain Holdings Capital Ventures ("BHCV") as the firm’s sole partner in designing and fabricating its single and multi-container data centers. These low-cost, decentralized innovative data centers will offer secure and affordable solutions for BHCV’s customers—including built-in disaster recovery options.
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The first prototype units are expected to be delivered in the fourth quarter of 2019. BHCV will then establish a sales distribution channel to scale production of data centers, with an anticipated volume of 150-200 units by 2020.
“We’re proud to partner with Blockchain Holdings and begin working with them to create safe, durable data centers,” said Paul Galvin, Chairman and CEO of SG Blocks. “The acceleration of data usage is creating a huge demand for new types of data centers and is a natural extension of SG Blocks’ expertise. We look forward to delivering results for Blockchain Holdings as soon as later this year.”
“Blockchain Holdings is thrilled to collaborate with the leading container-based modular company on this project,” said Delray Wannemacher, Chairman and CEO of Blockchain Holdings Capital Ventures. “We know SG Blocks will execute this to the highest level of quality and ensure our data centers are safe, secure structures – commanding the trust of our customers for years to come.”
While the majority of data centers will be fixed, BHCV will also be rolling out mobile data centers, which can be launched at much lower prices and often in a modular fashion—allowing for additional capacities to be easily added as needed. The mobile data centers could be strategically placed in remote areas in reach of lower power prices, while still retaining the added benefit of being able to be relocated to regions of lower energy costs should the current prices become excessive. These factors, and the robust nature of such mobile centers lets BHCV offer a full solution to static data centers – ensuring competitive pricing levels, capacities and added value services.
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.
About Blockchain Holdings Capital Ventures, Inc.
Blockchain Holdings Capital Ventures, Inc. (BHCV) is a holding company with a focus on a diversified set of complimentary cash flowing assets including Commercial Real Estate, Energy and Technology Companies. Our foundation is built on targeted commercial real estate with a specific energy footprint in Opportunity Zones, in order to improve, lease and roll out our proprietary mobile data centers to increase property value. For more information, please visit www.bhcv.io.
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
MZ North America
Source: SG Blocks, Inc.
Released April 2, 2019