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By Meg Flippin, Benzinga
Diamond Lake Minerals Inc. (OTC: DLMI), aiming to be the digital version of General Electric Co. (NYSE: GE) and Berkshire Hathaway (NYSE: BRK -B) buying, investing and growing an innovative portfolio of companies and attaching digital securities to those businesses, has entered into a long-term alliance with Boxabl Inc., an innovator in the modular home building market. The collaboration gives Diamond Lake Minerals entrance into the real estate market – which is ripe for change – and gives investors access to digital tokens of a potentially revolutionary real estate start-up.
BOXABL is addressing the U.S.'s lack of affordable housing, which has been a long-standing problem exacerbated by high mortgage rates and a lack of inventory. At last check, there’s a shortage of 7.3 million affordable homes available to low-income renters. That shortage is in every state and major metropolitan area around the country. There is also the need for more space in the existing homes across America driving demand for backyard accessory dwelling units or ADUs. In states like California with new laws on the books that make it easier to get permits, demand may grow even more.
Taking A Page From The Auto Industry
BOXABL’s mission is to mass-produce upscale low-cost housing, similar to how cars are mass-produced on the factory line. Its first product, Casita is a 19' x 19' prefab studio apartment that unfolds from a shipping container size. It is fully finished in the factory from the kitchen sink to the HVAC. The modular apartments can be installed in any customer's backyard in about an hour. BOXABL says Casita is suitable for use in multi-story apartments, workforce housing, affordable housing and military housing. It’s already doing business with the federal government, inking a $9 million deal in 2021 to build and deliver 156 Casitas to a military base. In the same year, it opened its first 170,000-square-foot manufacturing facility in Las Vegas. Fast forward to 2024 and BOXABL is in the process of building its factory – the Billion Dollar Boxzilla Factory, which is being partly funded by an investment from home builder and partner DR Horton Inc. (NYSE: DHI). At last check, BOXABL said it had a list of more than 170,000 people interested in buying a Casitas.
BOXABL, which is the brainchild of father-son duo Paolo and Galiano Tiramani who poured $2 million into the endeavor, also developed a building system that allows different-sized room modules to be stacked and connected to create a wide variety of building types. It’s not surprising that this innovative company would come from the Tiramani duo. Paolo Tiramani is an industrial designer and mechanical engineer with over 150 patent filings, and Galiano Tiramani is a serial technology entrepreneur. By partnering with Diamond Lake Minerals, they are betting the business will move to the next level.
“Knowing and working with Brian (CEO OF DLMI) since 2018 has been a real pleasure. Through this time, we set a great foundation on how to create opportunities, bring value and deliver. If it was not for the history we created together, we would not have been able to announce today that BOXABL has chosen Diamond Lake Minerals (DLMI) to be its Boxabl Villages development partner,” Galiano Tiramani, Co-Founder of BOXABL, said when announcing the partnership. “The experience, team, reach, credibility and access DLMI has built over the last year has been truly incredible to watch. We know they will be amazing partners for our brand, and we also believe that tokenization is the future, and that DLMI is strongly positioned to be tremendous leaders in this space.”
Diamond Lake Minerals Takes Financing To The Next Level
Diamond Lake Minerals and BOXABL are collaborating to identify, design and develop communities around BOXABL’s modular homes known as BOXABL Villages. The goal is to provide a more efficient process and shorter timelines from groundbreaking to residents moving into their homes. With Diamond Lake Minerals’ prowess in the future of financing via security tokens combined with traditional financing, both companies are confident they will be able to create unique opportunities for the villages to thrive and scale.
BOXABL falls squarely in Diamond Lake Minerals’ mission to develop valuable traditional businesses and combine them with the future of money and digital assets. Diamond Lake Minerals, which was founded in 1954 as a mining company, is positioning itself as an industry agonistic leader in the digital asset and security token space.
”DLMI and BOXABL are working together to develop not only the Boxabl Village Concept, but also utilizing the large reach and influence we have created here at DLMI to provide solutions to affordable housing,” said Brian J. Esposito, CEO of DLMI. “The crisis that the housing market industry is experiencing is in desperate need of a realistic, attainable fix. I truly believe that BOXABL is the first modular home company to crack the code for a fix, and together we intend on making quite the impact."
Featured photo by Shubham Dhage on Unsplash.
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