Safe & green holdings reports year-end 2023 results

Reports 30% increase in construction services revenue compared to 2022 completed successful spin-out of safe and green development corporation as a nasdaq listed publicly traded company cost-saving initiatives expected to save $2.5 million in annualized expenses to be recognized in 2024 partnering with tunnel to towers foundation to construct travelling modular home to showcase foundation's homeless veteran program miami, may 08, 2024 (globe newswire) -- safe & green holdings corp. (nasdaq: sgbx) ("safe & green holdings" or the "company"), a leading developer, designer, and fabricator of modular structures, reported results for the year ended december 31, 2023. recent highlights: achieves 30% year-over-year increase in construction services revenue for the year ended december 31, 2023 executed a master purchase agreement (mpa) with safe and green development corporation ("sg devco") (nasdaq: sgd), the company's real estate development subsidiary where sg devco has engaged sg echo to manufacture modular units for its planned real estate development projects, including design, engineering, fabrication, delivery, and installation of the modular systems; expected initial value of the mpa to be in excess of $140 million in net revenue over a multi-year period received new contract from a government contractor to refurbish 19 container modules to be used by a major u.s. government agency that the company originally built entered into a non-binding letter of intent (loi) to design, build, and operate an 800-unit supportive housing community for veterans, first responders, and others who are disabled from their service and interested in manufacturing work, as well as their families entered into a design-build contract with hostel cubed, to produce their first modular camping cube for the california coast, the "coastal camping cube" received a purchase order to provide additional modular units to an existing infrastructure solutions customer selected by the tunnel to towers foundation to construct a traveling modular home, the comfort home show model, designed to showcase the foundation's homeless veteran program "in 2023, safe & green holdings experienced a robust increase in revenue from construction services, achieving a significant 30% increase compared to 2022," commented paul galvin, chairperson and chief executive officer of safe and green holdings.
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