Olenox Industries Inc., formerly Safe & Green Holdings Corp., reports developments tied to modular structures, containerized infrastructure and energy-focused operations. Company news includes the completed name change from Safe & Green, activity at subsidiary Giant Containers, custom modular enclosure manufacturing, and updates involving Olenox Corp. service assets and industrial tooling.
Recurring announcements also cover the company’s integrated energy and infrastructure strategy, subsidiaries such as Giant Containers and Machfu Monitoring, acquisitions, proxy solicitation, annual meeting adjournments and other governance matters affecting its public-company status.
SG Blocks (NASDAQ: SGBX) announced a joint venture with Clarity Lab Solutions and National Pain Centers to establish a rapid COVID-19 testing site in Des Plaines, Illinois, near O'Hare Airport. The facility will feature 100,000 square feet of outdoor and indoor space, with a capacity to administer up to 10,000 tests daily, including rapid antigen and PCR tests. Set to open the week of February 1, the site aims to enhance safety for travelers and the local community amidst ongoing pandemic challenges.
SG Blocks (NASDAQ: SGBX) has announced a significant expansion of its manufacturing capabilities with a new 10,300 square foot building in Durant, Oklahoma. This addition will enhance the Company’s ability to modify and construct container-based structures, contributing to a multi-phase development plan for the SG Echo manufacturing campus. The expansion aims to meet growing demand across various sectors, including military and healthcare, and is expected to be operational by Q2 2021. SG Blocks also considers acquiring an additional 19 acres at the facility.
SG Blocks, Inc. (NASDAQ: SGBX) has announced a significant purchase order from a privately held client for a governmental project in Tyndall, Florida. The project, comprising 20,560 square feet, is expected to complete in Q2 2021 and expands SG Blocks' portfolio of military projects. The company is recognized for its innovative use of code-engineered shipping containers, catering to a diverse client base including military and retail clients. CEO Paul Galvin emphasized the company's commitment to providing durable structures for military use.
SG Blocks, Inc. (NASDAQ: SGBX) has successfully sold 100,000 COVID-19 tests to a private business partner in the U.S., generating approximately $1.25 million in revenue for Q4 2020. Chairman and CEO Paul Galvin expressed satisfaction with this significant sale, marking a strong year-end performance. SG Blocks specializes in innovative container-based structures, promoting sustainable and safe construction through its product offerings, which include the GreenSteel™ structural core.
SG Blocks (Nasdaq: SGBX) announced the delivery of its D-Tec 2 Testing Pods to Los Angeles International Airport (LAX) as part of a joint venture with Clarity Mobile Venture. This facility aims to enhance safe air travel by providing coronavirus testing for passengers and employees. Expected to open in early December 2020, it will offer PCR tests with results in 3 hours and can handle up to 1,000 tests per eight-hour shift. The initiative is a collaboration with Grimshaw Architects, focusing on improved health and safety protocols at airports.
SG Blocks (Nasdaq: SGBX) has been contracted by Memorial Healthcare to provide PCR Covid-19 testing services in Wayne County, Michigan. This partnership aims to perform up to 7,000 tests per shift efficiently, significantly improving testing turnaround times to as quick as 3 hours. Memorial is funding the initial deployment of SG Blocks' high-capacity Lab Testing Hub and additional swab collection stations. The collaboration also includes provisions for future Covid-19 vaccine delivery as supplies become available. SG Blocks' testing services promise high accuracy and community support for underserved populations.
SG Blocks, Inc. (SGBX) reported a strong third quarter for 2020, with revenue of approximately $575,000, up from $184,000 in Q3 2019, and a gross profit of $194,000, reversing a loss from last year. The construction backlog grew to $24.9 million, driven by 17 active projects. Notably, the acquisition of ECHO DCL will enhance vertical integration and efficiency. Despite a net loss of approximately $1.5 million, representing improvement from 2019, the company anticipates increased earnings and cash flow through year-end and into 2021.
SG Blocks (NASDAQ: SGBX) has announced a partnership with Clarity Lab Solutions to provide a modular COVID-19 laboratory at Los Angeles International Airport (LAX). Set to open in early December 2020, the facility will offer PCR tests with results available within 3 hours for passengers and airline crew, and within 24 hours for airport employees. The site can conduct 1,000 PCR tests per eight-hour shift and will also provide rapid antigen tests. The initiative aims to enhance passenger safety and support the travel industry’s recovery amid the ongoing pandemic.
SG Blocks (NASDAQ: SGBX) has announced a partnership with Clarity Mobile Ventures to implement interim COVID-19 testing at Los Angeles International Airport (LAX). The initiative will offer PCR tests with results available within 24 hours, starting this week. Tests will cost $150 and be available daily from 8:00 a.m. to 8:00 p.m. Additionally, a full-service rapid test lab is set to open in December. SG Blocks will develop the site, enhancing safety for travelers.
SG Blocks, Inc. (SGBX) announced the rescheduling of its third fiscal quarter financial results release to November 19, 2020, after market close. The results will cover the quarter ending September 30, 2020, and will be accompanied by a Quarterly Report on Form 10-Q. The call will be hosted by CEO Paul Galvin and Acting CFO Gerald Sheeran at 4:30 p.m. ET. Investors can access the call via a toll-free dial-in number or through an online replay.