Factory in Albania fully automated and operational

Eco Buildings Group Limited (AIM: ECOB), the UK-listed modular housing company, after a lengthy process of innovation and equipment and software upgrades, announces that it has now achieved fully automated production at its Albanian facility. This is a significant enhancement for the production line. The fully automated production line not only delivers walls of the highest-ever quality and consistency, but equally, does so at significantly higher output per day than previously achieved. Production time has been reduced by 33% thus increasing operating efficiency.

A single production line is now capable of producing over 177,000 sqm of GFRG glass fibre reinforced gypsum) walls per year - enough to deliver768 houses a year based on a standard 60 sqm two story flat roof detached house plan.

These improvements have been achieved through incorporating new technology into the production process and a rigorous engineering overhaul of every component. This has yielded a reduction in cycle-time to produce a wall, vastly improved panel quality standards and increased operational efficiency and cost reduction. This upgrade will improve revenue and profit projections for the current production line in Albania, now and into the future. It will also increase the Company's store of Intellectual Property. These innovations will be incorporated into further production lines as they are installed and as the Company expands into new markets such as the Republic of Chile.

Sanjay Bowry, CEO, Eco Buildings said, "The process to get our production line, in Durres, to this stage of fully automated continuous production has been challenging and was achieved due to the outstanding skills and innovation of our local teams. It has resulted in a significant upgrade in productivity, efficiency and output. Additionally, we have added to our IP and further differentiated ourselves from the competition. The developments made in our software systems, which will drive productivity, efficiency and increase production pushing out the need for a second line in Durres. In addition, it is important to stress that these improvements will now be standardised in all our subsequent production lines. I'd like to thank all stakeholders for their patience as we have innovated our production facility to fully automated production and look forward to now significantly accelerating our outreach to the market as the Company delivers into its existing contracts and enters new markets that are already identified."

Eco Buildings has already secured two sales contracts with major construction companies, one in Albania, the other in Kosovo, which are expected to generate gross sales revenue of approximately €144 million over the first three years following Admission.