Latest news with #Safe&GreenHoldings
Business Insider
18-06-2025
- Business
- Business Insider
Bringing American-made containment solutions back with Safe & Green
Mobile containment systems have been necessary in certain industries for a long time. This is especially true for heavily regulated industries that include energy production, medical facilities, and waste management. Safe & Green Holdings, which builds modular containerized systems, understands that sustainability and cost efficiency are important in the American manufacturing market, especially during times when they are needed most. Invaluable During Crisis Scenarios If the COVID-19 pandemic taught the world anything, it's that solutions during crises are required as quickly as possible. With their modular systems, Safe & Green was able to rapidly deploy mobile medical labs and walk-in clinics to help during the COVID-19 pandemic. Their testing centers across the United States were invaluable to relief efforts throughout this tumultuous time in world history, when medical facilities were overwhelmed with patients. A Leader at the Helm CEO Michael McLaren leads Safe & Green with what has been described as a 'pragmatic and scientifically rigorous approach.' By drawing from his background in high-energy and plasma physics, McLaren advocates for balanced strategies that combine innovation with environmental responsibility. However, McLaren isn't just about innovation. Under his leadership, Safe & Green is committed to providing American-made, Texas-based solutions that help businesses not only meet their regulatory standards but also cut costs and reduce environmental impact in the process. Innovation in Energy and the Environment One of Safe & Green's core offerings is the company's multi-functional service rigs, which have been dubbed the 'Swiss Army knife of the oil patch.' These rigs are capable of consolidating numerous functions to help reduce the number of diesel engines that are needed on drilling sites. This not only helps lower emissions but also reduces operational costs. Safe & Green's containment technology also helps clients avoid the high costs and environmental risks of transporting hazardous or contaminated materials and enables safer on-site processing for those working at their locations. Safe & Green's Philosophy Safe & Green has aligned itself with the growing national sentiment that favors energy independence and onshoring of production. McLaren, its CEO, believes that America has enough resources to meet its own energy demands, particularly through the responsible revitalization of oil and natural gas reserves. He also emphasizes that cleaner production methods can mitigate the heavy environmental footprint of traditional energy sources, which often leave large carbon footprints that can be damaging to the environment. The company's overall mission is to enable sustainable solutions within industries that both align with regulatory demands and environmental goals, all while boosting American jobs and reducing reliance upon foreign imports. Combining Rigor With Responsibility Safe & Green Holdings works to combine scientific vigor and environmental responsibility, alongside economic efficiency, to deliver cutting-edge solutions for major industries. Their keen eye on the future of American energy, as well as a commitment to sustainable growth, gives the company a forward-thinking stance, not just a push for domestic innovation, but for energy independence. When things get tough, Safe & Green Holdings can be depended upon to help industries build containment systems that not only make work more productive, but also safer.
Yahoo
01-04-2025
- Business
- Yahoo
Safe & Green Holdings Reports Year-End 2024 Results
MIAMI, April 01, 2025 (GLOBE NEWSWIRE) -- Safe & Green Holdings Corp. (NASDAQ: SGBX) ("Safe & Green Holdings" or the "Company"), a leading developer, designer, and fabricator of modular structures, reports financial results for the year ended December 31, 2024 and provides a corporate update. Recent Highlights: Appointed Michael McLaren as Chief Executive Officer and Jim Pendergrast as Chief Operating Officer Entered into Definitive Agreement to merge with Olenox and Announced LOI to acquire County Line Industrial Successfully completed two major projects for U.S. Government contractor Secured two new contracts for Modular Construction Projects Announced decisive legal victory in litigation against EDI International and PVE, securing a judgment for nearly $1.3 million in damages with additional potential awards for interest, legal costs, and attorney's fees While 2024 was a challenging year for Safe & Green Holdings, we had several key events that we believe will be the foundation for the Company's future,' stated CEO Mike McLaren. 'First, we have a strong management team now in place, with Jim Pendergrast joining Tricia Kaelin and me as Chief Operating Officer. I believe with our combined experience we are now poised to propel the Company forward. Further, with our merger with Olenox and Machfu coming to our shareholder vote, I strongly believe we are stronger as a diversified company that integrates energy expertise, Industrial Internet of Things (IoT), and our already strong footprint in sustainable infrastructure. We believe this is the Company's future and look forward to continuing into 2025 with positive outcomes and future sustainable growth.' Financial Results for the Twelve Months Ended December 31, 2024 Revenue for the twelve months ended December 31, 2024, was $4.9 million, compared to$15.5 million for the twelve months ended December 31, 2023, primarily reflecting a decrease in construction services revenue. Gross profit (loss) for 2024 was ($244,077) compared to $(2.55) million for 2023. Operating expenses for 2024 were $9.4 million, compared to approximately $19.2 million for 2023. The net loss attributable to common shareholders was approximately ($22.6) million, or ($10.53) per share in 2024, compared to a net loss of ($26.2) million, or $(34.03) per share for 2023. The Company's Adjusted EBITDA (non-GAAP) for the year ended December 31, 2024, was approximately ($9.4) million as compared to Adjusted EBITDA of approximately ($20.8) million for the year ended December 31, 2023. Both EBITDA and Adjusted EBITDA are non- GAAP financial measures. The Company defines EBITDA as GAAP net income (loss) attributable to common stockholders before interest expense, income tax benefit (expense), depreciation and amortization. Adjusted EBITDA is defined as EBITDA before certain non- recurring, unusual or non-operational items, such as litigation expense, stock issuance expense and stock compensation expense. The Company believes that adjusting EBITDA to exclude the effects of these items that are not closely associated with ongoing corporate operations provides management and investors with a meaningful measure that increases period-to-period comparability of the Company's operating performance. The Company believes the presentation of EBITDA and Adjusted EBITDA is relevant and useful by enhancing the readers' ability to understand the Company's operating performance. The Company's management utilizes EBITDA and Adjusted EBITDA as a means to measure performance. The Company's measurements of EBITDA and Adjusted EBITDA may not be comparable to similar titled measurements reported by other companies. EBITDA and Adjusted EBITDA are not measurements of financial performance under GAAP and should not be considered as an alternative to net income (loss) attributable to common stockholders or as an indication of operating performance or any other measures of financial performance derived in accordance with GAAP. The Company does not consider these non-GAAP measures to be substitutes for or superior to the information provided by its GAAP financial results. The non- GAAP information should be read in conjunction with our consolidated financial statements and related notes. These measures also should not be construed as an inference that our future results will be unaffected by the non-recurring, unusual or non-operational items for which these non-GAAP measures make adjustments. The table below reconciles EBITDA and Adjusted EBITDA, both non-GAAP measures, to GAAP net gain (loss) attributable to common stockholders of Safe & Green Holdings Corp. For the Year EndedDecember 31, 2024 For the Year EndedDecember 31, 2023 Net loss attributable to common stockholders $ (22,601,278 ) $ (26,282,533 ) Addback interest expense 3,127,179 1,430,372 Addback interest income — (119 ) Addback depreciation and amortization 557,382 598,714 EBITDA (non-GAAP) (18,916,717 ) (24,253,566 ) Common stock deemed dividend 5,621,596 — Gain on deconsolidation – SG DevCorp (4,637,013 ) — Loss on disposition of equity-based investments 320,408 — Change in fair value of equity-based investments 6,616,201 — Addback litigation expense 356,046 154,217 Addback stock-based compensation expense 1,194,597 3,210,631 Adjusted EBITDA (non-GAAP) $ (9,444,882 ) $ (20,888,718 ) At December 31, 2024, and December 31, 2023, the Company had cash and cash equivalents of $375,873 and $14,212, respectively. As of December 31, 2024, stockholders' equity was ($12.4) million compared to $(6.3) million as of December 31, 2022. Additional details can be found in the Company's filing 10-K, which can be accessed on the United States Securities & Exchange Commission website at About Olenox Corp. Olenox is an advanced energy company focused on oil and gas production, energy services, and energy technologies. Olenox specializes in acquiring and revitalizing distressed energy assets, leveraging proprietary technologies to enhance production while minimizing environmental impact. About Machfu, Inc. Machfu delivers Industrial Internet of Things (IIoT) solutions, providing secure, scalable, and intelligent connectivity for industrial automation, energy, and smart infrastructure applications. 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 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. 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 integrate Olenox and the Company's ability to collect on judgments against EDI International and PVE, 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 IR516 222 2560julesa@ Source: Safe & Green Holdings in to access your portfolio
