Showcase houses for Chile constructed and shipped

6 November 2024

Eco Buildings Group plc

(the "Company" or the "Group")

Showcase houses for Chile constructed and shipped

Eco Buildings Group plc (AIM: ECOB), the UK-listed modular housing company, is pleased to announce that it has assembled and shipped three show houses to Chile. This is the next  step towards entering into a long-term manufacturing and supply contract for modular housing under the Chilean government's social housing programme.

These houses are 60 sqm two story detached single dwelling units and come complete with basic sanitaryware,  bathrooms, internal doors and fittings, making them fit for habitation immediately.  

As previously announced on 18 April 2024 the manufactured building material (glass fibre reinforced gypsum wall - GFRG) has already been fully tested and confirmed as meeting national building regulations in Chile and other South American markets.

Sanjay Bowry, CEO, Eco Buildings said, "The progress in Chile emphasizes the appeal and wide-reaching potential of our product which we believe can be installed five times faster than conventionally built homes at half the cost. This achievement not only highlights our ability to connect with diverse markets but also demonstrates the opportunities that lie ahead as we expand our footprint.  With the inherent potential of this  product, we are poised to meet the needs of a growing customer base.

We look forward to updating the market on meeting the requirements of the social housing programme in Chile and the specific volumes and economics of this programme."

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Further information is available on Eco Buildings website: www.eco-buildings.net

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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 €114 million in total) following Admission.

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.