Fund established to enable impact investments
that help deliver on the mission of ECHo—pursuing the attainment of
human dignity on the African Continent
Plan to initially augment medical facilities at
500 clinics and hospitals located within Catholic Dioceses; goal of
10,000 facilities over the life of the project
Safe & Green Holdings Corp. (NASDAQ: SGBX) (“Safe &
Green Holdings” or the “Company”), a leading developer, designer,
and fabricator of modular structures for residential, commercial,
and point-of-care medicine, today announced that the Company has
commenced discussions with Earth our Common Home, Inc. (“ECHo"), a
Delaware 501(c)(3) corporation, to create the ECHo Impact
Investment Fund for Africa (“The Fund”), which will enable
potential impact investments in furtherance of the Company’s and
ECHo’s missions.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20231220038784/en/
Left image: Founders of ECHo - Ms.
Prishani Satyapal, Professor Edward S Ayensu (late) (Former
Chairperson of the Inspection Panel of the World Bank Group), His
Eminence Cardinal Peter Kodwo Turkson (Chancellor of the Vatican’s
Pontifical Academy of Science and Social Science), Mr. Alan Dones.
Right image: Paul Galvin, Chairperson & CEO, Safe & Green
Holdings, recently appointed Chair of the ECHo Impact Investment
Fund for Africa. (Photo: Business Wire)
ECHo’s mission is “to facilitate connection, collaboration, and
action with multi-sectoral partners; mobilizing funding for
scalable and inclusive projects that respond to the Cry of the Poor
and the Cry of the Earth, as referenced in The Holy Father Pope
Francis’ Encyclical Letter - Laudato sì: On Care for Our Common
Home.”
ECHo strives to access and direct funding to the curating,
design and implementation of projects that enable systemic impacts.
ECHo has formed a collaboration with faith groups and communities
in underserved areas, including a unique partnership with the
Symposium of Episcopal Conferences of Africa (SECAM), which is the
leadership organization of the Catholic Bishops of Africa. Through
this partnership, ECHo seeks to partner with impact
investment-funded enterprises, such as Safe & Green Holdings,
to support the attainment of human dignity on the African
continent. The Company’s collaboration with ECHo is intended to
help implement the African Diocese’s desire to augment the health
facilities and associated health services of Africa, which are
under the influence of the Dioceses. The Company’s goal is to
provide modular medical units to support the clinics and hospitals.
The Company and ECHo have identified Ghana, the Democratic Republic
of Congo and Nigeria as the countries for initial focus.
Specifically, the entities will establish augmented medical
facilities at 500 clinics and hospitals which are located within
Catholic Dioceses. The facilities/services will be developed based
on engagement with the various Dioceses and respective Bishops
Conferences.
Paul Galvin, Chairperson and CEO of Safe & Green Holdings
will serve as Chair of the Fund. Mr. Galvin will not be involved in
the day-to-day fund investments or day-to-day operations, which
will be overseen by Mr. Alan Dones, Ms. Prishani Satyapal and their
team. The Company is in talks with ECHo to provide seed capital of
$1 million USD for the Fund, through a potential loan to ECHo, to
enable the roll-out of its relationship with SECAM. Subject to
final definitive agreements, this capital will be provided to ECHo
over a 13-month period and will be converted to equity in the Fund.
The Company would also provide overall support for the project.
SECAM’s President, His Eminence, Cardinal Ambongo commented,
“The desire to further catalyze and accelerate collaboration
between ECHo and SECAM, aligns and responds to the outcomes of the
recent Vatican Synod on Synodality (October 2023) and the
publication of the Apostolic Exhortation, Laudato Deum, by His
Holiness Pope Francis. Both events have emphasized the urgent need
for co-responsibility in addressing the pressing challenges of
protecting our common home.”
Paul Galvin stated, “I am inspired by ECHo’s mission to bring
impact investments at scale to communities in need. This aligns
with the Company’s business objectives, which includes rolling out
fit-for-purpose modular medical units that are environmentally
sound and designed with the end user in mind. I fully and
enthusiastically accept this challenge, and it is done so humbly,
knowing how much there is to be done to create meaningful and
lasting economic development in communities that have been
marginalized in their advancement.”
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. The Company’s
subsidiary, Safe and Green Development Corporation, is a leading
real estate development company. Formed in 2021, it focuses on the
development of sites using purpose-built, prefabricated modules
built from both wood and steel, sourced from one of SG Holdings’
factories and operated by the SG Echo subsidiary. For more
information, visit https://www.safeandgreenholdings.com/ and follow
us at @SGHcorp on Twitter.
About Earth our Common Home, Inc.
ECHo focuses on integral ecology through systemic and circular
change, that builds economic fortitude and resilience within
communities. ECHo works to access and direct funding to the
curating, design and implementation of projects that enable
systemic impacts. ECHo has formed a collaboration with faith groups
and communities in underserved areas.
The vision of ECHo:
Create a global organization that responds to the Cry of the
Poor and the Cry of the Earth by mobilizing global resources and
funding for advancing thought and action, at scale, with and in
Diocese and communities in need.
The Mission of ECHo:
To facilitate connection, collaboration, and action with
multi-sectoral partners; mobilizing funding for scalable and
inclusive projects that respond to the Cry of the Poor and the Cry
of the Earth, as referenced in The Holy Father Pope Francis’
Encyclical Letter - Laudato sì: On Care for Our Common Home.
Echo website: www.echoimpactfund.org
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 and
include statements regarding the Company’s business and market
opportunities, the planned launch of an impact fund in Africa upon
definitive agreements with ECHo, and establishment of medical
facilities and services in Africa in collaboration with ECHo and
ECHo’s connections and networks in Africa. While the Company
believes these forward-looking statements are reasonable, undue
reliance should not be placed on any such forward-looking
statements, which are based on information available to us on the
date of this release. 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 the Company’s ability to complete the launch
of the aforementioned fund, Company’s and ECHo’s ability to
establish medical facilities and services in Africa, the
reliability of the networks and connections of ECHo in Africa,
ECHo’s ability to operate and invest in medical facilities and
services, ECHo’s ability to collaborate with other entities in
Africa, the legal and political environment in Ghana, the
Democratic Republic of Congo, Nigeria and other African nations,
and other factors discussed in the Company’s Annual Report on Form
10-K for the year ended December 31, 2022, 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231220038784/en/
Investor Relations: Crescendo Communications, LLC (212)
671-1020 sgbx@crescendo-ir.com
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