RCS - Eco Buildings Group - Showcase houses for Chile constructed and shipped

Eco BuildingsAnnouncement

06/11/2024 07:30

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RNS Number : 1488L  Eco Buildings Group PLC  06 November 2024

6 November 2024

Eco Buildings Group plc

(the "Company" or the "Group")

Showcase houses for Chile constructed and shipped

 

Eco Buildings Group plc (AIM: ECOB), the UK-listed modular housing company, is
pleased to announce that it has assembled and shipped three show houses to
Chile. This is the next  step towards entering into a long-term manufacturing
and supply contract for modular housing under the Chilean government's social
housing programme.

These houses are 60 sqm two story detached single dwelling units and come
complete with basic sanitaryware,  bathrooms, internal doors and fittings,
making them fit for habitation immediately.

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.

Sanjay Bowry, CEO, Eco Buildings said, "The progress in Chile emphasizes the
appeal and wide-reaching potential of our product which we believe can be
installed five times faster than conventionally built homes at half the cost.
This achievement not only highlights our ability to connect with diverse
markets but also demonstrates the opportunities that lie ahead as we expand
our footprint.  With the inherent potential of this  product, we are poised
to meet the needs of a growing customer base.

We look forward to updating the market on meeting the requirements of the
social housing programme in Chile and the specific volumes and economics of
this programme."

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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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