Safe & Green Holdings Corp. Announces New SG Echo Contract in U.S. Military Arena

The purchase order, from a long-time customer, signifies a growing relationship between the two parties

Safe & Green Holdings Corp. (NASDAQ: SGBX) (“Safe & Green Holdings” or the “Company”), a leading developer, designer, and fabricator of modular structures for residential, commercial, and point-of-care medicine, today announced that it has secured a new purchase order from a long-time, private customer within the U.S. military and federal space. The order, in excess of $2 million, consists of twelve modules and will be roughly 6,900 square feet. The Company’s prefabricated, modular construction will create a military administration building for said client.

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Safe & Green Holdings Corp. Announces New SG Echo Contract in U.S. Military Arena (Photo: Business Wire)

“While we of course are always receptive to new client work, there is something special about evolving, growing relationships with repeat customers who understand what makes Safe & Green Holdings Corp. special and stand out in comparison to other options in our industry,” Paul Galvin, Chairman and CEO of the parent Company noted. “We often work within the federal and military sector, and these types of bespoke builds are standard for us, for many reasons. We are pleased to continue to foster the relationship with this private client.”

“We are honored that our long-time customer continues to trust Safe & Green Holdings to deliver an exceptional product to their customers. As a veteran of our Armed Forces, this project is extra special as we get to work with another veteran-owned company to provide a prefabricated modular building to our military to meet their needs,” commented Brian Aspell VP of Operations.

The build is intended to take place in Q4 of 2023, with an anticipated completion date within the same time frame. The team is currently at the beginning of the design phase. Production is expected to fill factories for roughly 12 weeks in Q4. The Company will provide further updates as available.

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. Safe and Green Development Corporation is a leading real estate development company. Formed in 2021, the company focuses on the development of sites using purpose built, prefabricated modules built from both wood & steel, sourced from one of Safe & Green Holdings factories and operated by SG Echo. For more information, visit www.safeandgreenholdings.com.

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 plans to fulfill the substantial client purchase order for 12 prefabricated modules. While the Company 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 fulfill the client order as planned, 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.

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