(MENAFN - Newsfile Corp) EnerDynamic Hybrid Technologies Provides Corporate Update
Niagara Falls, Ontario--(Newsfile Corp. - February 11, 2019) - EnerDynamic Hybrid Technologies Corp. (TSXV: EHT) ("EHT") is pleased to provide, as part of it continuous disclosure program, an update on several initiatives.
The Company has relocated from Welland to Niagara Falls as disclosed in its October 31, 2018. The new facility can be seen at the following link:
Corporate Update by Region
The Company has made progress in bringing its ENERTEC products into new markets:
Ghana Unified Construction contract for 100,000 homes announced last fall is moving forward. First tranche of funds ($2.8M CDN) to begin construction has been approved by Elevate Finance and awaits EDC guarantee approval in the next week. Contract for supply of 100,000 solar roofs in partnership with UN OPS program will commence late in the second quarter of the current fiscal year. Government school's solar rooftop program has progressed to feasibility studies of each rooftop, a critical pre-order phase. Funding has been approved and management anticipates the project will commence in Q4 of the current fiscal year. The Community Based Health Services Units project has progressed with the site selection having been made for the first clinic which EHT will construct in early summer. This will be the model for clinics in the region and EHT will be able to market this design to other governments and aid agencies across the region.
Burkina Faso Burkina Faso government officials issued an open order for ENERTEC houses. EHT can deliver and build as many units as possible. EHT targeting 1,200 units per annum by late 2019. This project is currently on hold due to political instability in the country, subject to management review in 90 days.
Ivory Coast Advancement of the Ivory Coast government orders resulted following a management visit. This project is progressing but EHT is awaiting governmental completion of sewer and water services to the housing sites. It is expected that this will be sufficiently advanced by the end of Q2 of the current fiscal year allowing commencement of the project shortly thereafter.
Pakistan The first model home for the Izhar group has been completed and is ready for shipment in the near term.
United States-Southwestern Region Tiny House manufactured and on tour to support joint venture sales in Arizona and California. PWR Wagon sample delivered to joint venture partner is in use as part of sales efforts. Continued to advance application for exemption from US solar panel tariffs.
United States-Puerto Rico Danosa Caribbean Inc. added to Puerto Rico joint venture. Danosa is a 40-year-old commercial roofing product seller with Caribbean wide reach and reputation. Planning for ENERTEC manufacturing/assembly in Puerto Rico continues but delayed until market demand has grown further. Advance work on housing approval in Puerto Rico has progressed, awaiting funding from US Government to reach marketplace.
National Continued to refine prototyped custom structures intended to meet the needs of displaced persons under United Nations programs. Staff have completed a new design that now can be erected in 20 minutes. Custom prototype to be delivered for UN and NGO approvals in March. Progressing in PWR Wagon enhancement intended to facilitate the use for mobile water treatment. This product expansion is to be marketed to Government/aid agencies for disaster relief through mobile water treatment capabilities. EHT's board has decided not to pursue the Hifarms Cannabis project at this time. EHT has not received the deliverables promised from Hifarms but will continue to market our ENERTEC grow units to a variety of cannabis and vegetable growing companies across the marketplace.
John Gamble, CEO of EHT, commented that: "The number of opportunities continues to expand while management progresses each current opportunity towards fruition and the funding required." Mr. Gamble further commented that "These products require a long sell cycle given that we do not sell individual units at retail but rather target large scale contracts. We continue to be patient while we progress towards success."
About EnerDynamic Hybrid Technologies
EHT delivers proprietary, turn-key energy solutions which are intelligent, bankable and sustainable. EHT's expertise includes the development of its ENERTEC module structures with full integration of smart energy solutions. Using a proprietary skin and foam core that is stronger than traditional wood or steel structural insulated panels, EHT provides exceptional thermal energy efficiency in modular homes, cold storage facilities, residential/commercial out buildings and emergency/temporary shelters. EHT works with its partners worldwide to erect the buildings on-site utilizing EHT staff and local crews. In addition to traditional support to established electrical networks, ENERTEC buildings excel where no electrical grid exists.
The EHT advanced ENERTEC Modular Wall and Roof System uses a proprietary skin and foam core that is stronger and more energy efficient than traditional wood or steel structures providing the highest ratings for energy efficiency. EHT works with its partners worldwide to erect the buildings on-site utilizing EHT staff and local crews. After installation, each structure can be furnished and finished to meet the customer's requirements including siding, tile, kitchens and bathrooms or segregated commercial rooms. The finished wall product can be shipped on pallets and delivered via rail, truck or water in standard formats.
At the core of the ENERTEC product line is the ENERTEC Embedded Solar Roof Module. Solar cells can be embedded in a proprietary fire proof skin resulting in substantial cost savings by eliminating heavy glass panels and aluminum racking required for traditional solar panels. Two barriers to greater adoption of solar energy are weight limitations of the roof on which solar panels could be deployed and onerous shipping and labour costs. A lighter product at a better price point will open a larger market for solar due to the faster return of capital investment especially for rural and remote users looking to go off-grid. Furthermore, the entire EHT embedded solar roof becomes a massive solar panel capable of producing significantly more energy than the home requires, allowing the structure to then become an important source of power for the local micro grid or large battery storage systems.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The statements herein that are not historical facts are forward‐looking statements. Forward-looking information relating to sales of the products (the "Opportunities") involves risk, uncertainties and other factors that could cause actual events, results, performance, prospects, for the Opportunities to differ materially from those expressed or implied by such forward-looking information. Although EHT believes that the assumptions used in preparing the forward-looking information on the Opportunities outlined in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. EHT disclaims any intention or obligation to update or revise any forward-looking information, whether a result of new information, future events or otherwise, other than as required by applicable securities laws.
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