Salem, Oregon, March 03, 2022 (GLOBE NEWSWIRE) -- Earth Gen-Biofuel Inc. (OTC:EGBB) has finalized a contract for the sale of 64 homes from the Company's new series of single-unit manufactured homes designed to meet HUD construction standards. Earth Gen Biofuel Inc.'s wholly owned manufacturing subsidiary, International Housing Concepts Inc. ("IHC"), is rapidly becoming one of America's premier builders of manufactured homes of under 1000 square feet. The new designs introduced in January of 2022, include larger homes from 425 to 900 square feet.
Scott DeBo, IHC President stated, "This contract validates the hard work and creativity of our product development team and is a good example of our commitment to working closely with our client's to build products they envision. The six new models are proprietary to this client and will meet certain local and national building codes for manufactured housing as well as consumer financing requirements. The additional line adds to the 17 Park Model floor plans that have been the core of the Company's sales over these past several years. In partnership with the community's developer, we plan to deliver one and two bedroom homes that are certified to meet all required HUD building codes".
IHC expects to start deliveries by the end of the 2nd quarter and continuing through the balance of the year, pending final approval of the floor plans and HUD code requirements. The company is planning to dedicate a portion its 70,000 square foot Salem Oregon facility to accommodate manufacturing these new HUD designs. In response to marketing and sales feedback, IHC is exploring new factory locations in other regions of the US to support a growing pre-sold order book.
The new product line includes one and two bedroom homes with floor plans from 425 to 900 square feet of interior living space. Features include upgraded tile finishes, exterior stone wainscoting, the potential for an outdoor porch mounted fireplace, stone surfaces and designer roofing. While each of these new floor plans is proprietary to this client, similar floor plans can be modified to meet the many regional markets that IHC is serving.
The Company's sales are currently focused in the Pacific Northwest and the Southwest. Sales efforts are focused on residential communities and retail dealers selling individual customers. IHC prides itself on working closely with developers to create products that match their vision for their communities and needs of their potential residents.
This latest manufacturing contract represents the first large order for delivery of HUD certified homes. The homes are planning to be delivered to Nevada. All homes will be set on permanent foundations and are considered accessory dwelling units (ADU). New regulations change existing zoning to encourage Counties and Cities to allow single family home owners to add units to their properties to provide more housing where it is needed most to augment residential communities that are close to jobs. It is anticipated that these changes will add income opportunities for home owners and provide additional housing inventory in an effort to make housing more affordable by increasing supply.
About the Company
Earth Gen-Biofuel Inc. produces manufactured homes under the corporate name International Housing Concepts Inc. Our goal is not just building housing but creating living environments that meet the needs of owners and enhance the concept of comfortable living in a sustainable and manageable space. The Company's main manufacturing facility is in Salem, Oregon. The Company is targeting the domestic needs for housing solutions for broad segments of the market for homes under 1000 square feet. The company sells its products to Residential Communities, RV Parks, campgrounds and retail dealers who provide home owners with back yard auxiliary living spaces. The goal is to deliver high quality homes that employ technology that works for owners of our homes and that meet the requirements of sustainability for our environment and the locations where our homes form new communities.
Forward-Looking Statement
This press release may contain "forward-looking" information within the meaning of the Private Securities Litigation Reform Act of 1995. In accordance with the safe harbor provisions of this Act, statements contained herein that look forward in time that include everything other than historical information, involve risks and uncertainties that may affect the Company's actual results. There can be no assurance that such statements will prove to be accurate and there are a number of important factors that could cause actual results to differ materially from those expressed in any forward-looking statements made by the Company, including, but not limited to, plans and objectives of management for future operations or products, the market acceptance or future success of our products, and our future financial performance. Further caution is given as the Company is not current with its public disclosures and limited information about the Company's financial condition or operations is available to investors adding additional risk to potential investors.
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Company Contact
Scott DeBo, President of Earth Gen Biofuel Inc.
info@earthgenbiofuel.com
800-991-8190