Irish volumetric modular manufacturer secures major European production base to address Europe’s acute affordable housing shortage
MARBELLA, ES / ACCESS Newswire / April 29, 2026 / EcoModular (Ascotway Limited), an Irish-incorporated volumetric modular manufacturing company building the next generation of AI-native housing manufacturing at scale, today announced it has signed a binding Exclusivity Agreement to acquire 100% of the share capital of a Latvian industrial manufacturing company, whose facility is strategically located within the Ventspils Free Port in Ventspils, Latvia. Financial terms were not disclosed.
A Strategically Located, Industrial-Scale Manufacturing Asset
The Facility is situated within the Ventspils Free Port, one of the largest ice-free ports on the Eastern Baltic Sea. The property is secured under a long-term lease with Ventspils City Municipality running to November 2051. The Facility benefits from direct quay access, a full crane complement, and heavy industrial infrastructure capable of supporting high-volume automated volumetric production.
The Exclusivity Agreement grants EcoModular an exclusive right to negotiate and execute a Share Purchase Agreement.
Scaling Automated Production for European Housing Demand
EcoModular is deploying a robotically automated volumetric modular manufacturing model – integrating Robotics & Automation designed to deliver certified, energy-efficient housing units at industrial scale and speed. The Ventspils facility will serve as EcoModular’s principal European production base, with targeted annual output capacity positioned to directly address the acute affordable housing shortage across EU member states.
The acquisition forms a cornerstone of EcoModular’s response to the European Commission’s Affordable Housing Plan, which has set ambitious targets for the delivery of accessible, sustainable housing across the EU. By combining the Facility’s industrial footprint with EcoModular’s proprietary automated manufacturing platform, the Company expects to significantly accelerate certified unit delivery timelines versus conventional construction methods.
Quotes from Leadership
“Securing this Facility is a transformative step for EcoModular. This is not a construction company acquiring a building it is a technology and manufacturing platform securing a world-class industrial asset in a strategic Free Port location, with direct quay access and long-term land tenure. Combined with our robotic production system, we are now positioned to manufacture and deliver certified modular housing at a scale and cost structure that the European market urgently needs. The European Commission’s Affordable Housing Plan is not a policy aspiration it is a procurement mandate, and EcoModular is building the supply chain to meet it.”
Edvinas Cinga, Chief Executive Officer, EcoModular
“This acquisition is the physical embodiment of our investment thesis. Investors and policymakers alike have been asking where the industrial-scale, technology-driven answer to Europe’s housing crisis will come from. This Facility its location in the Ventspils Free Port, its infrastructure, and its production capacity gives EcoModular a competitive advantage that cannot be replicated quickly or cheaply. We are acquiring a world-class industrial asset at a cost structure that would take a competitor a decade and multiples of our purchase price to replicate, and we intend to deploy it at full capacity as rapidly as our automated manufacturing model allows. This is exactly the kind of capital-efficient, high-barrier-to-entry infrastructure that underpins a durable, high-margin manufacturing business.”
Niall Shanahan, Chairman, EcoModular
About EcoModular
EcoModular (Ascotway Limited, incorporated in Ireland) is a volumetric modular construction company developing an AI-native, robotically automated platform for the design, manufacture, and deployment of certified modular housing and commercial structures. The Company’s manufacturing model is engineered to deliver superior speed, quality consistency, and cost efficiency versus traditional construction, with a primary focus on addressing Europe’s structural housing deficit. EcoModular is pursuing a direct listing on the Nasdaq Capital Market.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of applicable securities laws. These statements are based on current expectations and assumptions and involve known and unknown risks and uncertainties. Actual results may differ materially from those expressed or implied. EcoModular undertakes no obligation to update any forward-looking statement.
Media & Investor Relations Contact
EcoModular / Ascotway Limited
Email: edvinas@ecomodular.com
Website: www.ecomodular.com
SOURCE: Ascotway Ltd
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