Benzinga | Jan 7, 2021 08:35AM EST

SG Blocks Sells 100,000 COVID-19 Tests To Business Partner, Revenue From Sale In Excess Of $1M

SG Blocks, Inc. (NASDAQ:SGBX) ("SG Blocks" or the "Company"), a leading designer, innovator and fabricator of container-based structures, announced today that the Company has sold 100,000 COVID-19 tests, via Osang GeneFinder(tm), to a privately held business partner in the United States.

Approximate revenue of $1.25 million will be recognized in the fourth quarter of 2020 from this transaction.

"We are happy to end the year on a strong note and completing a sizable COVID-19 test sale to a private client," Paul Galvin, Chairman and CEO of SG Blocks noted. "We are pleased to see our COVID-19 solutions helping to keep people healthy and safe."

About SG Blocks, Inc.

SG Blocks, Inc. is a premier innovator in advancing and promoting the use of code-engineered cargo shipping containers for safe and sustainable construction. The firm offers a product that exceeds many standard building code requirements, and also supports developers, architects, builders and owners in achieving greener construction, faster execution, and stronger buildings of higher value. Each project starts with GreenSteel(tm), the structural core and shell of an SG Blocks building, and then customized to client specifications. For more information, visit www.sgblocks.com.