SG Blocks Inc [NASDAQ: SGBX] is quite strong this Friday and is up by over 40% at the time of writing. This follows the company’s announcement that it was planning to build a modular COVID-19 testing centre for LAX. The company expects to have it done by the 1st of November 2020. The company stated that the test pods will include CLIA certified labs, and will also have the OSANG GeneFinder™ test that will allow it to give clients results in under 2 hours.
The company further stated that the tests would be made with a partnership with Grimshaw. The most interesting aspect to the test pods is that they will be made using disused shipping containers, making them both safe and environmentally friendly. On top of that, the labs will have staff from Clarity Mobile Venture, which is a joint operation between Clarity Labs and SG Blocks.
Commenting on the deal, SG Blocks CEO Paul Galvin stated that they are happy to be working with LAX in the quest to make air travel safe. He added that with COVID-19 becoming the new normal, accessibility of rapid testing was becoming essential. He added that the company was able to offer both services using its D-Tec testing pods, and Turnkey D-Tec. On his part, Grimshaw Chairman Andrew Whalley stated that the D-Tec system was flexible and allowed for a fully operational lab to be used at the exact locations where samples are needed.
The LAX deal deepens the market presence of SG Blocks Inc as a world-class leader in the development of use-of-code engineered shipping containers, that are safe to use and environmentally sustainable. This is likely to drive the demand for its products both now and in the long run.
One key aspect to the market that could see it record exponential growth is the ever-increasing challenge of the COVID-19 pandemic. Until a vaccine is found and widely deployed, testing remains one of the best ways to control the spread of the pandemic. In essence, with the LAX deal in position, the company is in pole position to land similar deals with other airports and company installations. This could see the company grow revenues grow to new heights in the near-term and see an increase in its stock price in the near-term. This makes it one of the high potential stocks to keep an eye on in the near-term.
About SG Blocks Inc
SG Blocks Inc is a container design and fabrications company. It is based in Brooklyn, New York.