FULLSTACK MODULAR & GOVERNOR NED LAMONT ANNOUNCE COMPANY RELOCATION AND $8-12M INVESTMENT IN CONNECTICUT

The American-made modular innovator exits NYC for the pro-development and innovation-friendly greater New Haven, Connecticut community

NEW HAVEN, Conn., April 24, 2023 /PRNewswire/ -- Today FullStack Modular, the leading innovator in the design, manufacture, and construction of mid- and high-rise multifamily buildings, hotels, and student housing, was welcomed into the Connecticut business community by Governor Ned Lamont as it begins the relocation of its U.S. headquarters to 30 Edmund Street, Hamden, Connecticut, from the Brooklyn Navy Yard in New York City. During an event at Gateway Terminal in partnership with the Governor and AdvanceCT, the company announced it would be investing $8 -12 million into Connecticut. This investment will include creating safe and reliable jobs, implementing cutting-edge technology, and manufacturing housing for the local workforce, students, seniors, and travelers alike.

"We are thrilled and honored to have Governor Lamont welcome us into a region that is pro-business and just as dedicated as we are to creating solid jobs for families and individuals of all backgrounds," noted FullStack Modular Founder and President Roger Krulak. "The state, local government, and business communities have shown their support and commitment to being a future-forward area focused on development, innovation, and broadening the affordable housing market."

Over the next few months, the company will be working closely with the state of Connecticut to conduct recruitment, training, and onboarding as it ramps up staffing. Modular construction provides a unique opportunity for workers who need a more reliable income, a set schedule, and safe, non-weather-dependent working conditions than the conventional construction and building industry can provide.

"FullStack Modular is a growing design/manufacture company that is responsible for developing forward-thinking projects located throughout the country, and we are thrilled that they have made the decision to move their headquarters and bring at least 100 new jobs to Connecticut," said Governor Ned Lamont. "The greater New Haven community will be a perfect fit for an innovative company like FullStack Modular, and I look forward to seeing their continued growth here."

The move to Connecticut and partnership with leading logistics expert and national transportation company, Gateway Terminal, creates a huge growth opportunity for the company as it not only moves into a more efficient factory with integrated logistics but also extends its geographic reach with the ability to ship modules via truck, rail, and deep-water.

"Gateway is thrilled to welcome FullStack Modular as our newest customer and warehouse tenant. Their new Connecticut facility will deliver significant economic benefits and jobs to the state and generate new activity in the Port of New Haven," said Matthew Satnick and Philippe De Montigny, Co-CEOs of Enstructure, Gateway's parent company. "We are proud of the relationship we have built with FullStack Modular, and we look forward to using our best-in-class services to support their growth and success."

Completely American-made, FullStack Modular is a tech-driven, fully integrated, sustainable, and radically efficient modular company that requires no concrete core. The company is revolutionizing the $1.7 trillion construction market comprised of multifamily, hotels, student, and affordable housing.

Since operations began in 2012 at the Brooklyn Navy Yard, FullStack Modular has employed more than 250 NYC-based workers, many of which are women and other underrepresented classes. New York employees, who were informed of the decision in early March, and offered opportunities to continue with the company at its new Connecticut headquarters, have continued to assist with the operational transition and will be compensated through the end of the month.

"Our New York employees are like family to us, many of them having been with us since the beginning, so this wasn't a decision we made lightly," Krulak remarked. "We are so thankful for their continued support, dedication, and outspoken advocacy, along with our local partners, especially The Building and Construction Trades Council of Greater New York, who were supportive in trying to keep our operations in Brooklyn. However, the state of Connecticut and the greater community of New Haven stepped up and offered us the kind of partnership we were looking for and provided the vision and support for us to build our operations there for the long term. We're excited to be new members of the Hamden and New Haven communities."

For more information on FullStack Modular please visit our website at www.FullStackModular.com or find us on LinkedIn, Instagram, Facebook, and Twitter.

Note regarding job numbers: FullStack Modular will be creating and hiring for 25-35 new jobs in the next several months with that number growing by an additional 75-80 by the end of the year for an eventual total of 100+ jobs.

About FullStack Modular:
FullStack Modular is the leading modular innovator in the design, manufacture, and construction of mid- and high-rise multifamily buildings, hotels, and student housing in urban environments. Tech-driven, fully integrated, sustainable, and radically efficient, FullStack Modular is revitalizing the urban housing landscape - taking modular to new heights.

About Enstructure and Gateway
Enstructure LLC is a logistics infrastructure company with corporate offices in Wellesley, Massachusetts and New York, New York. Enstructure owns and operates an integrated network of dry, liquid and breakbulk terminals and logistics assets on the East Coast, Gulf Coast and Inland River System of the United States. Founded in 2016, Enstructure's mission is to acquire and grow established terminal and logistics companies that will benefit from the company's resources and best practices, while maintaining an entrepreneurial spirit and local identity. Enstructure provides extensive services for some of the world's largest companies within the energy, agriculture, food, manufacturing, construction and public safety sectors.

Founded in 1985, Gateway – an Enstructure company – is one of the premier port terminal and logistics companies in the United States and the largest port terminal operator in the State of Connecticut. Gateway currently operates on approximately 75 acres of land in the deep-water Port of New Haven and offers the only port facility in New England encompassing ship, barge, truck, and rail capabilities. In addition, Gateway serves as the long-term operator of the State Pier in New London, Connecticut. Gateway has over 100 employees and a management team with over 275 years of combined stevedoring, terminal operations, and logistics experience.

SOURCE FullStack Modular