Built to withstand cyclonic offshore events and unforgiving handling by stevedores, reuse of the shipping containers for prefabrication is gaining popularity with residential and commercial applications.
‘Big’ is a commonplace descriptor for the US: big land mass, big cars, big combined populations. Big challenges; among them, a container ship turning circle required to change the course of housing delivery. A Nasdaq listed company called SG Blocks (shipping container prefabrication) appears to have taken command of several of these vessels and offloaded those containers.
And, it’s paying off.
SG Blocks (shipping container prefabrication) is a New York manufacturer of commercial, residential, military and EV charging prefabricated container-based solutions, and according to their reported earning results last week, it’s going gangbusters.
“The second quarter was a momentous one for SG Blocks, as we achieved record quarterly revenues and made great strides in growing our activity across all verticals,” said Paul Galvin, SG Blocks’ Chairman and Chief Executive Officer.
“In particular, we made substantial progress in our housing vertical, launching several new development opportunities where we anticipate earning revenue from both our interest in the projects and by fabricating the units at SG Blocks (shipping container prefabrication)’ own manufacturing facilities. These announcements provide greater visibility into our earnings over the next several quarters and put us on track to achieve positive cash flow in the fourth quarter of 2021.
“Our goals over the coming quarters will be to execute at a high level on our existing projects, seek new investment opportunities and partners, and continuously expand our manufacturing capacity to support our accelerating pace of activity. We are capturing the benefits of significant tailwinds in the residential development business by helping to deliver much-needed residential units to alleviate a housing shortage across the country. In our health care vertical, we also continue to provide critical health infrastructure with our modular and rapidly deployable COVID testing modules.
“In short, we are making our own destiny and rethinking the way space and buildings are used. We’re continuing to close on developments and launching new projects and ventures each quarter. As our business has grown and our plan is unfolding, we have started to attract interesting, successful and notable partners, employees, and Board Members who share our passion for disrupting real estate and medical testing via safe and green modular solutions. We expect these efforts to pay off for our shareholders as we realize the value of these projects over time.”
The company offers varying degrees of prefabrication for their shipping containers and according to company sources their innovations make any project more affordable, more efficient, faster and more sustainable.
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