SG Blocks Partners with Grimshaw to Create Pre-Fabricated Modular Education Facilities

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Companies Agree to Combine Supply Chains

NEW YORK--(BUSINESS WIRE)-- SG Blocks, Inc. (NASDAQ: SGBX), a leading designer, innovator and fabricator of container-based structures, today announced it has teamed up with Grimshaw – a global leader in architecture, planning and industrial design across many major sectors – to build pre-fabricated modular based education facilities. These facilities have been necessitated due to the impact of COVID-19 throughout the education sector from schools to colleges, placing a strain on current teaching spaces.

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(Graphic: Business Wire)

(Graphic: Business Wire)

Under this joint agreement, SG Blocks and Grimshaw will develop scalable, customizable and rapidly-deployable education facilities that can be utilized as classrooms, spaces for teaching, workshops, dining, recreation, sports and/or other education-related purposes. Additionally, the team has designed pressurized 150 housing units to allow for the quarantine of COVID-infected community members.

“Using SG Blocks’ pre-fabricated modular structures and Grimshaw’s unparalleled designs, we intend to construct state-of-the-art education facilities that can be easily deployed and scaled depending on market demand,” said Paul Galvin, Chairman and CEO of SG Blocks. “In the COVID-19 era, these considerations are especially critical.”

“The global demand for flexible modular educational facilities is significant. Our expandable approach provides decision makers safe options to house, educate and protect the vulnerable,” said Andrew Whalley, Grimshaw Chairman.

The Companies also made the strategic decision to combine delivery and supply chains in the fulfillment of orders. The Grimshaw supply chain has decades of experience delivering modular structures across the globe and as such greatly increases the geographic reach of products. Additionally, it should allow products to be delivered into markets where pricing was previously challenging.

SG Blocks and Grimshaw have partnered in the past, including in June 2018, when SG Blocks signed a master services agreement with Grimshaw for exclusive container-based modular design. Under this agreement, Grimshaw serves as SG Blocks’ premier design partner and incorporates SG Blocks’ container-based structures into its global, award-winning industrial design portfolio.

The firms also collaborated in September 2018, when SG Blocks displayed a single-family container-based modular home at the 15th Annual Five-Star Conference and Expo in Dallas, Texas, and Grimshaw showcased its collaboration through an innovative animated video and physical models exhibited throughout the prototype.

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 Grimshaw

Grimshaw was founded by Sir Nicholas Grimshaw in 1980. The practice operates worldwide, across all major sectors, with offices in London, Paris, New York, Los Angeles, Dubai, Melbourne and Sydney, employing over 650 staff. Grimshaw has been honoured with over 200 awards for its commitment to excellence and innovation, including ‘Practice of the Year’ and ‘Building of the Year’ at the 2019 AJ100. In 2019, Founder Sir Nicholas Grimshaw was awarded the Royal Gold Medal for Architecture by the Royal Institute of British Architects.
www.grimshaw.global

Forward-Looking Statements

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. These forward-looking statements are based upon current estimates and assumptions and include statements regarding plans to construct state-of-the-art education facilities that can be easily deployed and scaled depending on market demand and the decision to combine delivery and supply chains with Grimshaw in the fulfillment of orders allowing products to be delivered into markets where pricing was previously challenging. . 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 subject to various risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company’s ability to create and construct with Grimshaw pre-fabricated modular based education facilities, the Company’s ability to combine delivery and supply chains with Grimshaw and deliver products into markets where pricing was previously challenging,, the Company’s ability to position itself for future profitability, the Company’s ability to maintain compliance with the NASDAQ listing requirements, and the other factors discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 and the Company’s subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and the Company undertakes no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.

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Christina Levin
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James Carbonara
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Brett Maas
Hayden IR
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brett@haydenir.com

Source: SG Blocks, Inc.

Released July 23, 2020