Business
Fab-Form Announces the First ICF Step 5 Development in BC
Delta, British Columbia--(Newsfile Corp. - August 16, 2023) - Fab-Form Industries Ltd. (TSXV: FBF...
About this update from Fab-form Industries Ltd
[{"type":"text","content":"Fab-Form Announces the First ICF Step 5 Development in BCDelta, British Columbia--(Newsfile Corp. - August 16, 2023) - Fab-Form Industries Ltd. (TSXV: FBF) (\"Fab-Form\") announced the delivery of Insulated Concrete Forms (\"ICF\") for a 280-unit Net Zero project in Squamish, BC. This project is significant as it is the first to be built under the new Step 5 Building Code (Net Zero) of BC.The BC government initiated the Step 5 Building Code in an effort to reduce the environmental footprint of housing: each unit will produce as much energy as it consumes. The use of ICF in a project of this size could result in significant revenue over the anticipated two-year buildout. Revenue will be recognized as the product is delivered.Figure 1 - 3D view of a project and usage of ICF.To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/814/177512_d3aacdbee4c1e8de_001full.jpgTo achieve these strict energy standards, the developers will use ICF and Fab-Form proprietary technologies. Given the provincial mandate to require all new homes in BC to meet Step Code 5 by 2030, these projects demonstrate future sales potential for Fab-Form.\"We have always pursued the development of technologies that create sustainable future value, but also drive a tangible environmental impact. Witnessing the turning of the tide in construction is an exciting time for us, and we look forward to the future,\" said Joseph Fearn, Fab-Form COO. Forward-Looking StatementsSome statements contained in this news release constitute \"forward-looking statements\" as is defined in applicable securities laws. These statements include, without limitation, the success of developing, manufacturing, and distributing new products and other similar statements concerning anticipated future events, conditions, or results that are not historical in nature, and reflect management's current estimates, beliefs, intentions, and expectations. These statements do not guarantee future performance. The Company cautions that all forward-looking information is inherently uncertain, and that actual performance may be affected by several material factors, many of which are beyond the Company's control. Such factors include, among others, risks and uncertainties relating to product development; the ability of the Company to obtain additional financing; the...