Eco Buildings Group PLC (AIM:ECOB), the UK-based sustainable modular construction firm, saw its shares rocket some 80% in Tuesday's early trade after it announced a new landmark deal with the Chilean authorities to manufacture and supply 20,000 modular homes under the government’s flagship social housing programme.
The contract is valued at approximately €420 million over seven years, and it follows Eco’s successful completion of a rigorous certification process.
The first phase will see 607 homes delivered in 2026, funded by a 50% upfront deposit of €12.75 million.
“Securing our first project in Latin America represents an important milestone for Eco Buildings and demonstrates the scalability of our revolutionary technology across new markets,” said executive vice-chairman Dr Etrur Albani.
Eco will deploy a new manufacturing line in Chile, with factory installation planned for the second quarter of 2026.
The company highlighted that the contract’s structured payment system, with advance deposits for each tranche, provides strong cash flow visibility over the programme’s duration.
"Chile provides a strong regulatory framework and a strategic entry point into the wider region," Albani added.
"Our focus is on delivering high-quality, sustainable and affordable housing through an efficient, industrialised approach. We believe our technology can support governments and developers in accelerating housing delivery across Latin America in a cost-effective and environmentally responsible way."
In London, Eco Buildings shares were up 9.99p or 78% changing hands at 22.74p.