RCS - Eco Buildings Group - First Showcase house for Chile erected & complete

Eco BuildingsAnnouncement

03/03/2025 07:15

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RNS Number : 0021Z  Eco Buildings Group PLC  03 March 2025

Eco Buildings Group plc

(the "Company" or the "Group")

First Showcase house for Chile erected on site and completed

 

Eco Buildings Group plc (AIM: ECOB), the UK-listed modular housing company, is
pleased to announce that it has delivered and constructed it's first show
house in Valpairaso, Chile. A further two show houses are currently being
constructed in the Melipilla district. The construction of these houses is the
last step in the due diligence process being undertaken by the Chilean
government ahead of confirmation of its commitment to enter into a long-term
manufacturing and supply contract for modular housing, as part of its broader
social housing programme.

These detached two story dwelling units are spread over 60 sqm and come
complete with sanitary ware, bathrooms, internal doors and fittings, making
them fit for habitation immediately. Eco's unique manufacturing ability
provides for speed of delivery, which is 5 times faster than conventional
building methodology and at less than half the cost.

Eco is in advanced negotiations to secure a large volume contract to provide
modular housing, under this social housing programme and will  provide a
further update in due course.

As previously announced on 18 April 2024 the manufactured building material
(glass fibre reinforced gypsum wall - GFRG) has already been fully tested and
confirmed as meeting national building regulations in Chile and other South
American markets. The final stage in this certification is the inspection of a
completed unit, which encompasses acoustic and insulation validation, which
has now been achieved.

Sanjay Bowry, CEO, Eco Buildings said, "We believe Eco Buildings produces the
highest specification, lowest cost product in the market. Moreover, visits by
representatives from Chile inspecting our fully automated factory, in full
production, has provided new and prospective customers with both a compelling
product to examine and assurance over our ability to supply, which has in turn
lead to the position where we anticipate being able to enter into a material
contract.

The social housing programme, in Chile, envisages providing 250,000 single
dwelling units over time and Eco is positioned to make a significant
contribution to this target. The designs of the show houses are provided by
the Ministry of Housing and our team delivered a habitable family home in 12
days, whilst training local contractors. As the local team gains experience, I
am confident that this already quick construction time can be reduced
further."

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

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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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