Safe and Green Holdings Enters into Agreement with Three Pines Leasing to Supply Modular Office and Storage Units to Government Agency

Rhea-AI Summary

Safe & Green Holdings (NASDAQ: SGBX) has secured a contract with Three Pines Leasing to provide multiple modular units for a U.S. government agency. The company will leverage its expertise in converting shipping containers into office and storage spaces. This multi-unit order is anticipated to be the first of several throughout 2025, building on an existing relationship between the parties.

The project involves repurposing and modifying shipping containers into portable storage and office units, similar to previous projects completed by SGBX for the same government agency through Three Pines Leasing. The company's CEO, Mike McLaren, emphasized their continued focus on container conversion expertise and valued partnership with Three Pines Leasing.

Positive

• Contract secured with Three Pines Leasing for government agency projects
• Multiple additional contracts expected throughout 2025
• Builds on existing successful relationship with government contractor

Negative

• None.

Multi-unit order expected to be first of several over the course of 2025

MIAMI, FL, May 27, 2025 (GLOBE NEWSWIRE) -- Safe & Green Holdings Corp. (NASDAQ: SGBX) ("Safe & Green Holdings" or the "Company"), a leading developer, designer, and fabricator of modular structures diversified platform transforming critical infrastructure through sustainable modular innovation, announces entering into a contract with Three Pines Leasing of Ocilla, GA. to supply multiple modular units expected to be leased by a U.S. government agency. An established U.S. government contractor, Three Pines Leasing has an established relationship with the Company and expects to enter into additional contracts throughout the balance of 2025.

Mike McLaren, Safe and Green Holdings Chairman and CEO commented, “We continue to leverage our expertise in the area of converting modular units like shipping containers into more usable space like offices and storage units. We continue to value our relationship with Three Pines Leasing and look forward to further opportunities to provide their partners with these spaces.”

The Company will utilize its expertise in repurposing and modifying shipping containers to construct portable storage and office units. The current contract is similar to previous projects performed by the Company for this government agency in connection with its relationship to Three Pines Leasing.

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. For more information, visit https://www.safeandgreenholdings.com/ and follow us at @SGHcorp on Twitter.

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 additional contract with Three Pines Leasing for multiple modular units to be leased by a U.S. government agency. 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 successfully fulfill the contract with Three Pines Leasing, the effect of government regulation, 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, 2024 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.

Investor Relations:

CORE IR
516 222 2560
investors@safeandgreenholdings.com

FAQ

What is the new contract between SGBX and Three Pines Leasing for?

SGBX has contracted with Three Pines Leasing to supply multiple modular office and storage units that will be leased to a U.S. government agency.

How many additional contracts does SGBX expect with Three Pines Leasing in 2025?

While the exact number isn't specified, SGBX expects to enter into several additional contracts with Three Pines Leasing throughout 2025.

What type of modular units will SGBX provide under this contract?

SGBX will convert shipping containers into portable storage and office units for the government agency.

Has SGBX worked with this government agency before?

Yes, the current contract is similar to previous projects SGBX has performed for the same government agency through Three Pines Leasing.