Safe & Green Holdings Corp. Secures Two New Contracts for Modular Construction Projects

Highlights Versatility and Growing Demand for Modular Solutions

MIAMI, FL, Dec. 04, 2024 (GLOBE NEWSWIRE) -- Safe & Green Holdings Corp. (NASDAQ: SGBX) (“Safe & Green Holdings” or the “Company”), a leading developer, designer, and fabricator of modular structures, today announced the signing of two significant contracts, further demonstrating the Company's ability to deliver innovative and efficient solutions across diverse applications.

The first contract involves the design, fabrication, and delivery of two modular containers totaling 640 square feet, equipped with a fully functional kitchen. The project is scheduled for completion by the end of January 2025. The second contract, a larger-scale initiative, encompasses up to 45 modular containers totaling 320 square feet each. These units are designed to house generator systems, meeting specialized industry needs. The first unit is expected to be completed by March 1, 2025, with the remaining containers scheduled for phased delivery thereafter.

Paul Galvin, Chairman and CEO of Safe & Green Holdings Corp., stated, “These contracts highlight the versatility of our modular construction solutions, from custom-designed kitchens to complex generator housing units. Our ability to adapt to diverse client requirements while maintaining high-quality standards and rapid turnaround times positions Safe & Green as a leader in the modular construction industry. We are proud to continue driving sustainable, cost-effective, and scalable solutions for our clients. In addition, these projects reflect Safe & Green's dedication to providing innovative modular designs tailored to specific client requirements, demonstrating the scalability of the Company’s solutions for both small and large-scale initiatives.”

Chance Shires, Vice President of Operations at Safe & Green Holdings Corp., commented, “These new contracts further solidify Safe & Green's reputation as a trusted partner across diverse industries. We pride ourselves on delivering reliable, environmentally conscious solutions that not only streamline project timelines but also reduce costs compared to traditional construction methods. We deeply value the loyalty and trust of our repeat customers and remain committed to tirelessly meeting their needs.”

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 SG Holdings’ factories and operated by the SG Echo subsidiary.

For more information, visit https://www.safeandgreenholdings.com/ and follow us at @SGHcorp on Twitter.

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 the Company’s signing of two significant contracts, one for the design, fabrication, and delivery of two modular containers totaling 640 feet, equipped with fully functional kitchen, and a second for up to 45 modular containers totaling 320 square feet each, designed to house generator systems. 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 successfully complete the two significant contracts, the effect of government regulation, 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, 2023 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.

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Released December 4, 2024