- SGTM receives approval to accept debris, manufacture mulch at state-of-the art Jacksonville facility
- Approval latest in notable list of milestones for expanding company
- After posting record Q2 revenue numbers, CEO predicts another positive quarter
In yet another significant moment for the growing company, Sustainable Green Team (OTC: SGTM) received permit approval to accept debris and manufacture mulch at its largest facility, located in Jacksonville (http://nnw.fm/yw8vR). SGTM is a leading provider of environmentally beneficial solutions for tree and storm waste disposal.
“Another major achievement for our team and shareholders,” said SGTM CEO and director Tony Raynor. “Not only does this approval allow us to expand our services, it allows us to open a retail mulch supply location for retail customers; the infrastructure is already in place. I look forward to sharing more about our new approved site as well as many other updates as they progress.”
SGTM’s state-of-the-art, 100,000-square-foot Jacksonville facility sits on 28 acres of concrete and is ideally structured for the company to continue to pursue the strategic expansion of its debris collection and grapple hauling services. Permit approval came from the Jacksonville City Council, which voted on the ordinance with no opposition.
Other milestones for the company this year have included the addition of new grapple hauling trucks to its fleet (http://nnw.fm/6eP1c); the construction completion of a dual-line mulch bagger and fully automated electric grinding screening operation at its Apopka, Florida, landfill facility (http://nnw.fm/xS0Q0); and the diversification of revenue stream by receiving International Play Equipment Manufacturers Association (“IPEMA”) certification and approval to manufacture tree-waste material into playground surfacing material (http://nnw.fm/fJAFO).
In addition, SGTM released impressive figures for Q2 2020, recording $12,382,491 in revenue, $3,458,164 in gross profit, and $40,710,954 in total assets, with a strong position of $7,004,807 in cash and liquid investments (http://nnw.fm/8kBQ3).
“We are very pleased with our performance and direction,” said Raynor. “The positive recorded numbers were generated prior to achieving IPEMA certification for public surfacing material, which diversified our revenue stream; prior to construction at our Waste Management landfill facility, which further increased mulch manufacturing; and prior to the addition of new grapple hauling trucks to our fleet, which increased efficiency and production. The subsequent events look to lead us to another positive quarter, and we look forward to seeing how it all unfolds.”
Sustainable Green Team, through its subsidiaries, including National Storm Recovery LLC (DBA Central Florida Arbor Care and Mulch Manufacturing Inc.), provides tree services, debris hauling, removal and bio-mass recycling, manufacturing, packaging and sales of next-generation mulch products. The company’s primary corporate objective is to provide a solution for the treatment and handling of tree debris that is historically sent to local landfills and disposal sites, creating an environmental burden and pressure on disposal sites around the nation.
To learn more about Sustainable Green Team Ltd., view the company’s investor presentation at http://nnw.fm/UpXmd
NOTE TO INVESTORS: The latest news and updates relating to SGTM are available in the company’s newsroom at http://nnw.fm/SGTM
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