Earth Gen Biofuel Inc .. Mid-Year Operations Update | New
Salem, Oregon, Aug 9, 2021 (GLOBE NEWSWIRE) – Mid-year update from Earth Gen-Biofuel Inc. (OTC: EGBB). As one of the leading US builders of mini-homes, Earth Gen Biofuel Inc. (“EGBB”) continues to expand its production capacity. EGBB manufacturing operations are now concentrated in International Housing Concepts Inc. (“IHC”), a subsidiary of its 70,000 square foot plant in Salem, Oregon.
In 2021, EGBB repositioned its sales strategy by focusing on RV park developers, mini-house retailers and municipal decision makers in the Pacific Northwest. This resulted in valuable new relationships and the addition of several new customers and increased orders. The company has leveraged its extensive dealer network to provide feedback to consumers, resulting in exciting new floor plans, modern exterior and interior finishes, as well as enhanced home tech features. .
Many of the supply chain issues faced by the company in 2020 have been alleviated through improved supplier relationships, fewer suppliers, and a return to reliable product delivery within the chain. global supply. The operations and the existing machines allow the production of 12 to 15 housing units per month. The company has focused on improving manufacturing techniques and investing in additional equipment and technology. IHC hired and trained additional production staff and skilled workers. EGBB believes that the increased workforce and improvements to the factory will create efficiencies and improve production throughput, producing homes faster and meeting sales demand by building more houses per month.
The additions to the leadership team that were completed in March 2021 resulted in increased workflow and sales orders. The focus on sales and marketing increases sales in four key distribution channels. Recreational vehicle and fleet model home dealers and resellers, real estate developers and land owners well suited to a prefabricated housing community. Additionally, state and local governments are targeted clients and include community leaders and nonprofit organizations focused on addressing the homelessness crisis and low income housing issues. Large planned communities are being developed in many cities across the United States and we want to help support this effort by providing a realistic housing option for many.
Management continues to maintain relationships with established RV dealers, manufactured home communities and developers who plan to use manufactured homes in the development of rental site communities. EGBB is in active discussion with community planners in the Northeast and Southwestern United States. The company’s 2021/22 marketing plan continues to target planned development communities, as well as state and local municipalities with plans to address the low-income housing issues facing many major cities in our region. country. The company is in talks with Salt Lake City, Utah, Salem, Oregon and Medford, Oregon to find a solution to provide affordable housing in communities that have a growing demand for new homes.
In 2021, IHC expanded its customer base from one to eight communities with locations in Washington, Oregon and Idaho. The company has expanded its dealer network which now includes nine independent dealers and one value-added reseller with locations throughout the Pacific Northwest. The company now does business with dealerships in five western states. The company is in talks to build homes for several communities in southern Oregon and Idaho. IHC continues to provide accommodations at Hope Valley Resort and has proudly delivered 35 accommodations to date. The company is expected to deliver eight more Hope Valley Resort homes over the next 45 days. New pending orders for Hope Valley are expected to reach 8-10 homes per month based on information provided by Hope Valley Resort and their plan to add 225 new homes over the next 24-30 months.
IHC is in negotiations to build homes for a large community project in Arizona. The company has offered to build a first production run at its existing facility while construction of a new manufacturing facility in Arizona is underway. This will allow immediate construction starts at the Salem plant and allow full line production to transition to Arizona for homes sold to customers in Arizona, Nevada and Southern California.
IHC has become a valuable partner for developers seeking advice on final design and community planning strategies. IHC has taken the lead in designing new home layouts to fit specific locations. The company’s efforts have resulted in close relationships with some of the nation’s largest RV fleet developers, as well as their team of buyers.
The company believes it can increase its revenue through the introduction of new distribution channels, new products and additional production capacity. It is expected that this will lead to additional sales throughout the Southwest and become the roadmap for nationwide production.
Operational changes and upgrades are expected to create greater economies of scale through organizational efficiencies, increased purchasing power and more reliable product throughput, all of which should translate into increased shareholder value.
About the company
Earth Gen-Biofuel Inc. manufactures homes and products under the company name International Housing Systems Inc. Our goal is not just to build housing, but to create living environments that meet the needs of homeowners and improve the concept of comfortable living in a sustainable and manageable space. The Company’s primary manufacturing facility is Salem Oregon. The Company targets national needs for housing solutions for broad segments of the market. The company sells its products to Tiny Home residential communities, RV parks, campgrounds, and dealerships that provide homeowners with ancillary living spaces in their backyards. IHC sells its 280 to 380 square foot line of Towable Tiny Homes to dealers that meet the need for off-grid and on-grid vacation homes that can be moved from site to site. The Company has developed a US-based supply chain to support local and national businesses and to ensure the availability of many of the key components used in our manufacturing process. The goal is to provide high quality homes that use technology that works for the owners of our homes and meets the sustainability requirements for our environment and the locations where our homes form new communities.
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 that law, the statements contained in this document are forward-looking and include everything else. only historical information. , involve risks and uncertainties liable to affect the actual results of the Company. 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 forward-looking statements made by the Company, including, but not limited to , management plans and objectives for future operations or products, market acceptance or future success of our products, and our future financial performance. Greater caution is given as the Company is unaware of its public disclosures and limited information on the financial condition or operations of the Company is available to investors, which adds additional risk to potential investors.
See our houses at www.homesfromIHC.com
Investor Relations Contact Hayden Financial Corp. Robert gartzman [email protected] Phone 800-991-8190
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