Group Receives Official Certification for Latin American Markets

RNS REACH

18  April 2024

Eco Buildings Group plc

(the "Company" or the "Group")

Group Receives Official Certification for Latin American Markets

Highlights

·      The Group's walls have been approved for use under national building regulations in Chile, following a full range of stress tests.

·      Certification from this noted testing centre in Santiago is accepted by countries across Central and South America enabling market access across Latin America

Eco Buildings Group Limited (AIM: ECOB), the UK-quoted modular housing company, is pleased to announce that the government-approved testing department at the Catholic University of Chile in Santiago, has informed the Company that its wall panels, have successfully passed the government's rigorous testing program for use in its construction market. 

This noteworthy development is the result of months of meticulous testing that began back in July 2023 where the Group's building materials were subjected to the most extensive evaluations for strength, durability, fire-resistance, sound insulation and structural integrity.  The results from the Catholic University testing center surpassed their stringent standards on all test variables, demonstrating the reliability and adaptability required to meet the exacting building regulation standards governing the construction industry in the region.

As a result of this performance success in Chile, it is the Company's understanding that its walls will also be deemed compliant across a substantial number of Latin American markets, allowing for significant future growth prospects in Chile and across the wider region.  The full 40-page report will soon be made available on our website, www.eco-buildings.net.

Sanjay Bowry, CEO, Eco Buildings commenting on this exciting development, "Obtaining approval in a market with such exacting standards as Chile, is a significant milestone for Eco Buildings Group.  It re-affirms the quality of our product offering as well as allowing us to accelerate efforts to sign new opportunities for growth in Chile, and elsewhere in Latin America.  This opportunity is expected to complement our existing €114M order book in Europe, into which the Company expects to shortly commence deliveries from its recently upgraded factory in Albania.

I look forward to updating the market on these operations and delivery progress as well as further progress for the Company across production improvements and contract wins in the coming weeks as Eco continues to penetrate the world's modular housing markets."

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

For more information contact:

Eco Buildings Group plc

Sanjay Bowry, Chief Executive Officer

Fiona Hadfield, Finance Director

Tel: +44 (0) 207 380 0999

Spark Advisory Partners Limited (Nominated Adviser)

Matt Davis / James Keeshan

Tel:  +44 (0) 203 368 3550

Tavira Securities Limited (Broker)

Oliver Stansfield / Jonathan Evans

Tel:  +44 (0) 203 192 1739

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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.

Non-Executive Director Etrur Albani Appointed Executive Vice Chairman

Certain information contained within this Announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR") as applied in the United Kingdom. Upon publication of this Announcement, this information is now considered to be in the public domain.

15 April 2024

Eco Buildings Group plc

(the "Company" or the "Group")

Board Change  Non-Executive Director Etrur Albani Appointed Executive Vice Chairman

Eco Buildings Group Limited (ECOB), the UK-quoted modular housing company, is pleased to announce that Dr Etrur Albani, co-founder and non-executive board member, has agreed to assume a full-time role as the Group’s Executive Vice Chairman.  In his new role, Dr Albani will be responsible for managing existing client relationships as well as developing new contracts, working with CEO Sanjay Bowry in setting and maintaining the Company’s strategy on how best to capture the rapidly growing demand for modular housing worldwide in general, and for the Group’s innovative product offering in particular. 

Dr Albani has a PhD in High Speed Communication Devices and has been pivotal in commissioning  the Group’s manufacturing system for automated wall panel production and delivery into the Group’s standing 3-year, €114M order book in the region.   In addition, Dr Albani’s understanding of the Company’s manufacturing materials and processes have aided his efforts to introduce Eco Buildings’ housing solution to new markets.

Dr Etrur Albani, Incoming Executive Vice Chairman, Eco Buildings, “I have always believed in the potential for the modular housing sector and Eco’s role within this sector.  Eco’s is uniquely positioned with a process that creates robust housing materials that are both low cost and of the highest ecological specifications.  Therefore in consultation with the Board, I have agreed that one way to help the Company more efficiently capture its rightful share of this worldwide opportunity, is for me to formally dedicate myself to the Company as Executive Vice Chair.

As the Company’s largest shareholder, I want to assure our long-supporting as well as potential investors, that my efforts will be keenly focused on creating shareholder value and improving the performance of our shares.  Your trust and investment in our company are paramount and I am committed to working diligently towards our collective success.”

Don Nicolson, Chairman, Eco Buildings said, "On behalf of myself and the entire Eco Buildings’ board, I want to thank Etrur for agreeing to assume a senior, executive role at the Company.  He has been critical to the team’s efforts to date commissioning our production facilities while simultaneously developing new relationships in new markets.  Having him now as Executive Vice Chair, where he can be directly assist Sanjay in setting strategy and developing new markets for our products, will be good for all stakeholders”

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

For more information contact:

Eco Buildings Group plc

Sanjay Bowry, Chief Executive Officer

Fiona Hadfield, Finance Director

Tel: +44 (0) 207 380 0999

Spark Advisory Partners Limited (Nominated Adviser)

Matt Davis / James Keeshan

Tel:  +44 (0) 203 368 3550

Tavira Securities Limited (Broker)

Oliver Stansfield / Jonathan Evans

Tel:  +44 (0) 203 192 1739

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.