Eco Depot Inc. (OTCMKTS: ECDP) is a company that acquires, develops, and manages eco-friendly consumer brands and real estate properties. Its focus is offering support, investment, and funding for entrepreneurs, start-ups, and green firms committed to environmental protection. ECDP stock dropped 9.6% in the previous session with only 84,470 shares exchanging hand relative to its average daily trading volume of 107,351. Recently, the company offered updates regarding its activities and how they affect the company.
The Federation of Latin American Cities, Municipal Associations (FLACMA) invited Eco Depot’s subsidiary Bronya Canada Group Inc. to take part in several international events across FLACMA offering its Bronya Climate Shield solution. Bronya Climate Shield delivers around 40% energy flow and consumption efficiency and minimizes carbon production by reducing energy consumption through a simple, inexpensive application. Most importantly, Bronya Climate Shield can incentivize corporate support in 2030 SDG efforts by enhancing employee’s working conditions, lowering production costs, and improving the safety and functionality of the equipment. CEO Daniel Gosselin said that they are working towards making Bronya Climate Shield available to all FLACMA municipalities.
Eco Depot Inc.’s (OTCMKTS: ECDP) wholly-owned subsidiary has announced that FP Innovations has completed various tests on Bronya Climate Shield and decided that the insulation can act as a fire retardant when used ion prefabricated wooden panels. The FP Innovations test comes at the back of the recently concluded military specification pilot at NTS Sci-Lab, which established that Bronya Climate Shield could offer between 24% and 42% energy efficiency increase.
Gosselin said, “Bronya Climate Shield now has two recent independent labs that have conducted important tests and provided conclusive results on our premier liquid insulation product. Based on the findings of these two tests from two internationally respected laboratories, the company can proclaim with authority that Bronya Climate Shield offers significant improvements in energy efficiency while also providing substantial fire-retardant properties to wood surfaces.”
Eco Depot Inc.’s (OTCMKTS: ECDP) updated market shareholders and shareholders regarding its recent activities impacting the company. The company communicated the Q2 2021 update in the spirit of transparency to its stakeholders. Eco Depot said that in Q2, Bronya Canada Group would launch the Bronya Climate Shield globally.
Bronya Canada Group presented the shield product as a solution in the fight against climate during the United Nations World Tourism Organisation Conference held in Madrid on May 20, 2021. Following the Bronya Climate Shield Thermal Paint Coating presentation at the UNWTO FITUR Conference, Bronya Climate Shield received an invitation to present the FACMA advisory Council.
Another company in the same sector is Acadia Realty Trust (NYSE: AKR) is a real estate equity investment trust that focuses on long-term and profitable growth through its Fund and Core Portfolio. At the beginning of the month, the company closed a $700 million restated and emended credit facility replacing the current $600 million credit facility. With the amended credit facility, the company’s revolving credit facility increased to $300 million from $250 million.
John Gottfried, Acadia Realty Trust CFO, stated, “The successful closing of this facility further enhances our financial flexibility and provides us with additional capital to pursue investment opportunities. It also highlights the strong support of our capital providers. The expansion of the facility along with its extended term demonstrates our access to capital and balance sheet strength.”
Acadia Realty Trust (NYSE: AKR) announced that it would take part in NAREIT’s 2021 REITweek Investor conference. The company’s core leasing pipeline has grown to more than $12 million, with around 50% leases already signed to date. In addition, Acadia signed major street leases with The Real real in Greenwich, Grand Seiko, and Everlane.
Simon Property Group (NYSE: SPG) in the same sector, is a gold standard among Mall REITs. The company has the largest mall portfolio globally, with several Class A malls that flourish even with growing e-commerce. Simon Property Group CEO David Simon mentioned in a Q1 earnings call that sales volumes were high in March compared to 2019. He said they are encouraged by sales volume and traffic, leading to an increase of full-year operation funds outlook to $9-7-$9.8 per share.
Simon Property Group (NYSE: SPG) shares dropped to below $50 last year because of pandemic-induced panic leading to a massive sell-off. The sell-off witnessed was due to concerns about the company’s business model as brick-and-mortar retail businesses suffered. In addition, last year, the company’s revenues dropped 20% YoY due to rent collection issues, as some tenants were affected by the pandemic. However, the company generated over $2 billion from operating activities despite the pandemic impact.