May 19, 2020   SOURCE: BusinessWire

SG Blocks Partners With Housing Startup to Bring Affordable Container-Based Homes to the Market

SG Blocks, Inc. (NASDAQ: SGBX), a leading designer, innovator and fabricator of container-based structures, today announced that it has partnered with RhoHouse LLC, a technology-focused housing startup in Asheville, NC, to bring well-designed, affordable houses to the market using RhoHouse’s CORE modules.

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(Photo: Business Wire)

(Photo: Business Wire)

CORE modules combine the mechanical, electrical and plumbing functions of a home into a single appliance, which is built in a controlled factory setting. After inspections, these “CORES” are delivered to their homesites—complete with bathrooms, kitchens, laundry, electrical panels and all major mechanical systems of a home.

“We are excited to help RhoHouse bring a new twist on the current homebuilding process and implement innovative solutions for more affordable housing,” said Paul Galvin, Chairman and CEO of SG Blocks. “By relocating much of the skilled labor to a controlled factory setting, this solution eliminates the barriers and bottlenecks of traditional construction process.”

“Using containers as a structural, and easily transportable, chassis for our CORES is an ideal marriage between pre-fab and site-built approaches—offering the advantages of both,” said Dale Freudenberger, CEO and co-founder of RhoHouse LLC. “Our collaboration with SG Blocks is a big step toward scaling to what we ultimately hope is an international effort of bringing thoughtfully designed affordable homes to people who need them all over the world.”

The first RhoHouse homes using SG Blocks’ signature GreenSteel™ are expected to begin construction in the next 30-60 days.

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.

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 partnering with RhoHouse LLC to bring well-designed, affordable houses to the market using RhoHouse’s CORE modules and the first RhoHouse homes using SG Blocks’ signature GreenSteel™ beginning construction in the next 30-60 days. 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 bring houses to the market using RhoHouse’s CORE modules as planned, the Company’s ability to position SG Blocks 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.