REG - Eco Buildings Group - Factory Update - First Wall Produced

Eco BuildingsAnnouncement

18/12/2023 07:00

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RNS Number : 1084X  Eco Buildings Group PLC  18 December 2023

 

Certain information contained within this Announcement is deemed by the
Company to constitute inside information as stipulated under the Market Abuse
Regulation (EU) No. 596/2014 ("MAR") as applied in the United Kingdom. Upon
publication of this Announcement, this information is now considered to be in
the public domain.

18th December 2023

Eco Buildings Group plc

(the "Company" or the "Group")

Factory Update - First Wall Produced

Highlights

·      Company's first manufacturing facility established in Dürres,
Albania

·      First walls have been produced at the new factory

·      Full scale commercial production in Q1 2024 to commence
fulfilling orders that are expected to generate up to €114 million in total
for the first three years.

Eco Buildings Group Limited (AIM: ECOB), the UK-listed green tech housing
company, has commenced early production at its recently completed facility at
Dürres, Albania with the manufacture and assessment of its first walls.

This follows the successful relocation of the production line from Dubai and
an extensive programme of refurbishment and technical upgrades to the plant at
the Company's custom built 2,440 sqm facility at Dürres. This will improve
production capacity, reliability and quality as the Group begins fulfilling an
order book of up to €114 million in Albania, as previously disclosed. An
additional production line is expected to be installed during  2024.

Sanjay Bowry, CEO, Eco Buildings said, "I would like to congratulate the team
in Albania for bringing the factory into operation as efficiently as they
have, culminating in this major milestone for Eco Buildings of producing its
first walls at the new facility.

We have a significant existing order book which is expected to generate up to
€114 million in total for the first three years. We expect to add to this
during 2024, particularly in already identified markets such as Chile and
Spain

The scale and scope of our target market continues to grow, and the team at
Eco Buildings is building capacity to address this opportunity. Our
factory-based construction technology is as little as half the cost, a third
of the weight, and a fifth of the installation time as conventional
construction, and with a significantly reduced impact on the environment.

We look forward to updating the market soon on these matters and to continue
to provide regular updates over the coming months."

 

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 up to €114 million in total).

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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