Safe & Green Holdings Subsidiary, SG Echo, Set to Deliver Three Additional Sustainable Modular Quick-Service Restaurants for Domino’s

Download as PDF

Builds upon successful design, delivery, and installation of two proof of concept units earlier this year in Arkansas

Stores to be located in Oregon; expected to be delivered and installed by Q2 2024

MIAMI--(BUSINESS WIRE)-- Safe & Green Holdings Corp. (NASDAQ: SGBX) (“Safe & Green Holdings” or the “Company”), a leading developer, designer, and fabricator of modular structures, announced today that its subsidiary, SG Echo, LLC, has agreed to deliver and install three additional Quick Serve Restaurant (QSR) units in Oregon on behalf of Noble Food Group, a franchisee for Domino’s, the biggest pizza company in the United States.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230714735317/en/

(Photo: Business Wire)

(Photo: Business Wire)

The first of the three stores for Noble Food Group, all of which feature single-module units, will be located in Sweet Home, Oregon, and is expected to be delivered and installed by the fourth quarter of 2023. The other two stores are expected to be delivered and installed in the second quarter of 2024, in two other cities in Oregon.

David Cross, Vice President of Business Development at Safe & Green Holdings stated, “We are excited to see the Company’s initiative over these past years in the QSR world move forward with these types of multiple store orders. The hard work of the entire team from the factory floor to the C-Suite is changing the way food & Beverage looks at store growth and fulfillment.”

Paul Galvin, Chairman and CEO of Safe & Green Holdings, commented, “We are pleased that another franchisee from Domino’s has validated the tremendous value of our solutions, after evaluating the units that SG Echo supplied earlier this year. Domino's is not just an international powerhouse in the QSR sector, but they also understand the promise of establishing a network of sustainable, green modular storefronts. This is consistent with our objective to improve operational efficiency and foster ecological sustainability for our clients. Our relationship with Domino’s is one that yields benefits for both parties, and we hope to supply more QSR units to an increasing number of Domino’s franchisees in the future.”

About Safe & Green Holdings Corp.

Safe & Green Holdings Corp., a leading modular solutions company, operates under core capabilities which include the development, design, and fabrication of modular structures, meeting the demand for safe and green solutions across various industries. The firm supports third party and in-house developers, architects, builders and owners in achieving faster execution, greener construction, and buildings of higher value. The Company’s subsidiary, Safe and Green Development Corporation, is a leading real estate development company. Formed in 2021, it focuses on the development of sites using purpose built, prefabricated modules built from both wood and steel, sourced from one of Safe & Green Holdings’ factories and operated by the SG Echo subsidiary. For more information, visit www.safeandgreenholdings.com and follow us at @SGHcorp on Twitter.

About Domino's Pizza®

Founded in 1960, Domino's Pizza is the largest pizza company in the world, with a significant business in both delivery and carryout pizza. It ranks among the world's top public restaurant brands with a global enterprise of more than 19,800 stores in over 90 markets. Domino's had global retail sales of over $17.5 billion in 2022, with over $8.7 billion in the U.S. and nearly $8.8 billion internationally. In the fourth quarter of 2022, Domino's had global retail sales of nearly $5.5 billion, with over $2.7 billion in the U.S. and over $2.7 billion internationally. Its system is comprised of independent franchise owners who accounted for 99% of Domino's global stores as of the end of the fourth quarter of 2022. Emphasis on technology innovation helped Domino's achieve approximately two-thirds of all global retail sales in 2022 from digital channels. In the U.S., Domino's generated more than 80% of U.S. retail sales in 2022 via digital channels and has developed several innovative ordering platforms, including those for Google Home, Facebook Messenger, Apple Watch, Amazon Echo, Twitter and more.

Safe Harbor Statement

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 for further select roll outs of modular-store fronts across the country and providing further updates on potential future storefronts and plans. While Safe & Green Holdings 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 roll out additional modular-store fronts across the country as planned, the Company’s ability to spin out Safe and Green Development Corporation, the Company’s ability to expand within various verticals, 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, 2022 and its 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 we undertake 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.

Investors:
Crescendo Communications, LLC
(212) 671-1020
sgbx@crescendo-ir.com

Source: Safe & Green Holdings Corp.

Released July 14, 2023