RCS - Eco Buildings Group - Delegation from the Dominican Republic Visit

Eco BuildingsAnnouncement

12/11/2024 07:00

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RNS Number : 7960L  Eco Buildings Group PLC  12 November 2024

12th November  2024

Eco Buildings Group plc

(the "Company" or the "Group")

Delegation from the Dominican Republic Visit

Eco Buildings Group plc (AIM: ECOB), the UK-listed modular housing company, is
pleased to announce that a delegation from the Dominican Republic is today
visiting Eco's factory in Albania to inspect the manufacturing facility and
its products being up to 50% cheaper, two-thirds lighter and five times faster
to build than conventionally built homes.

The delegation is headed by Minister Carlos Bonilla Sanchez  - the current
Minister of Housing, Habitat and Buildings for the government and is the first
step to provide much needed social housing for the Dominican Republic.

Eco Buildings is in detailed negotiations to provide modular houses in support
of the development of large volumes  and expects to provide a further update
in the near term.

As previously announced the manufactured building material (glassfibre
reinforced gypsum wall - GFRG) has been fully tested and certified in Chile
and as a result is accepted as an approved building material in a number of
Latin American countries including the Dominican Republic.

Sanjay Bowry, CEO, Eco Buildings said, "We believe Eco Buildings produces the
highest specification, lowest cost product in the market. Moreover, with the
fully automated factory in full production, we welcome Minister Bonilla
Sanchez whose visit to our factory to examine our compelling product and
provide assurance over the security of supply is expected to lead to orders
from his government.

We look forward to  updating the market on meeting the requirements of the
social housing programme in the Dominican Republic.

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Further information is available on Eco Buildings
website: www.eco-buildings.net (http://www.eco-buildings.net/)

 

For more information contact:

 Eco Buildings Group plc                               Tel: +44 (0) 207 380 0999

 Sanjay Bowry, Chief Executive Officer

 Fiona Hadfield, Finance Director

 Spark Advisory Partners Limited (Nominated Adviser)   Tel:  +44 (0) 203 368 3550

 Matt Davis / James Keeshan
 Tavira Securities Limited (Broker)                    Tel:  +44 (0) 203 192 1739

 Oliver Stansfield / Jonathan Evans

 

Notes

The Company has acquired proven and innovative prefabricated technology which
has been in development and commercial use since 2006. Eco Buildings' range of
prefabricated, green housing products based on glass fibre reinforced gypsum
panels ("GFRG") provides a construction solution for both affordable and
high-end housing.

Eco Buildings has already secured two sales contracts with major construction
companies, one in Albania, the other in Kosovo, which are expected to generate
gross sales revenue of approximately up to €38 million in total per annum
over the first three years (approximately €114 million in total) following
Admission.

The market share for factory-based building technology is expected to grow
significantly over the coming years as private developers and the public
sector seek to address the substantial and growing deficit in housing stock
and issues of construction cost, speed and quality and housing affordability.

 

 

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