Eco Depot Inc (OTCMKTS: ECDP) is a leading player that acquires and develops eco-friendly real estate assets and consumer-branded products. In addition, the company announced that it had started construction at its first production facility in North America.
Construction Started: Through its wholly-owned subsidiary Bronya Canada Group, the company started the construction work at its first production facility in North America. The company had initiated selecting the venue in the first quarter for setting up a production facility in North America. The company usually prefers a location that meets the customer’s current and future requirements. It further stated that several micro-production facilities would be required to meet the requirements of major retailers. In addition, it would fulfill the needs of the transportation, logistics, and distribution centers.
Fourth Quarter of 2021 to see the benefit: As per the company, the first batch from its facility in Montreal, Canada, is expected to come on the stream in the fourth quarter of 2021. The facility will enable the company to fulfill its customers’ requirements in Eastern Canada and North Eastern United States. Moreover, the company is also negotiating to set up the additional facility in North America and Europe.
Its subsidiary Bronya entered into a lease agreement and submitted a production plan to the local authorities. The local authorities have visited the facility and reviewed the production process and the safety protocols available at the facility. As per the review report, the authority have asked the company to modify the specific changes in the building premises. The company stated that the changes recommended by the local authority would be done within thirty days before the commencement of production. The facility will have the capacity to produce 2,700 gallons per day, spread across 4,200 square feet. The company, micro-production facility at the customer ends will help the company mitigate the risk and delay due to logistics issues. The management expects the new facility is expected to generate revenue of $0.107 million per day. The company further stated that the facility close to the user industry helps the customer procure the materials cost-effectively.