Welland, Ontario--(Newsfile Corp. - June 28, 2018) - EnerDynamic Hybrid Technologies Corp. (TSXV: EHT) ("EHT") is pleased to provide, as part of its continuous disclosure program, a corporate update on several of its various initiatives.
EHT has progressed from research & development focused to commercial production and sales focused activities. Customer deposits, orders in process and advancing joint venture relationships are demonstrating that management plans to establish ENERTEC products within the marketplace are progressing.
Overview of Activity in the Second Quarter
- Received second Puerto Rico order.
- Completed Arizona joint venture arrangement, first rooftop shipped for Net Zero Home.
- Financing deal with Elevate Finance to accelerate the sales process and strengthen cash flows.
Corporate Update by Region
- Manufacturing of first ENERTEC PWR Wagon order in process.
- Manufacturing of components for the 1Mw Ghana project ongoing.
- Ivory Coast order awaiting completion of land servicing to begin building. Anticipating beginning first houses late 2018.
United States: Southwestern Region
- Received no objection to the solar panel tariff exemption application; anticipate obtaining an exemption certificate in the coming weeks.
- Shipped the first rooftop that will go on a Net Zero Tiny Home. This home will be 100% powered by ENTERTEC panels and Outback Energy Inverters and batteries. This home will be on tour in California for the next few months in support of sales efforts.
- PWR Trailer shipped for the commencement of orders.
United States: Puerto Rico
- Planning for ENERTEC manufacturing/assembly in Puerto Rico scheduled for November/December.
- Manufacturing of first order for 67 ENERTEC power systems completed.
- Second order received from JV and awaiting deposit.
- Finance agreement with Elevate will speed up the order process.
- Received Expert Preferred Vendor Status by De Sousa Costa International Inc., which is expected to allow access to projects under the Clean Development Mechanism of the United Nations Framework Convention on Climate Change (UNFCCC).
- Designed and prototyped custom structures intended to meet the needs of displaced persons under such United Nations programs.
- Model to be built for final signoff by UN and NGOs near Toronto in August.
- Closing of School board asset sale is nearing completion. Documentary support for costing of all the rooftop solar systems are undergoing detailed financial analysis. Anticipated final cost review to be completed in early July with expected transaction closing by end of July.
- Competed the first house structure on the Martin Falls project and the rooftop on the North Bay project, both First Nations projects assisting northern communities.
- Competed the design for a DIY shelter/storage unit with an integrated ENERTEC solar roof and energy system. Marketing to retailers to commence in the fall for sales in 2018. The ENERTEC DIY shelter will also be marketed to Government organizations as quick shelters for forest fire crew camps/disaster relief.
- PWR Wagons are now in the field with various contractors undergoing both small and large building site demonstrations.
Management has secured a new production and administration facility and will complete the move in the fall of this year. This new facility will have a material positive impact on production processes and administrative systems.
The process of seeking patent protection for the Company's ENERTEC ultra-light solar panel continues (patent pending status already granted) under the guidance of EHT's solicitors. While no outcome can be assured, this well-advanced process is anticipated to reach conclusion in the current fiscal year.
The ENERTEC ultra-light solar panel manufacturing process continues to be refined to reduce costs and maximize production capacity as part of a continuous development program. The ENERTEC PWR Wagon production processes have also advanced rapidly with a focus on allowing final assembly by the purchaser to facilitate more cost-effective shipment and delivery.
Mr. John Gamble, CEO/Director of EHT, commented that "with so many business activities underway, keeping the marketplace updated is a critical responsibility. We are moving ahead on all fronts and will keep the market updated on more items as events warrant."
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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