TORONTO, ONTARIO / ACCESSWIRE / January 30, 2017 / Enerdynamic Hybrid Technologies Corp. (EHT.V) ("EHT" or the "Company") today provided an update on the Letter of Intent to build 50,000 homes in Ivory Coast for a branch of its military which was previously announced on December 16, 2016.
The Ivory Coast government is represented through The Foundation General Akissi, an organization for "the Promotion of the Rights of Women and Children". In this case the Foundation, which as part of the Ivory Coast military is tasked with building housing for military families, has agreed to enter a contract with Maple Leaf Holdings SA. EHT is a shareholder of Maple Leaf Holdings SA and would fulfil the contract for the building of two, three and four bedroom homes using the Company's sustainable Advanced Modular Housing System with the embedded Enertec solar energy system.
It was anticipated that the contract for the delivery of 50,000 homes would be finalized in January 2017 for a build-out in 10,000 home tranches with an update to be provided at that time. As at this date, the company and the Foundation have started negotiations on the contracts necessary to begin the project and anticipate finalizing the agreement by early March.
EHT has recently completed the installation of two fully equipped housing units, one off-grid/self-contained unit and the second configured as a net-metering system. These housing units provide tangible evidence of EHT's products, capabilities and commitment to meeting the human needs of the Government and people of Ivory Coast as well as demonstrating its global capabilities. Manufactured in Canada remains a hallmark of quality, safety and integrity upon which EHT continues to build.
John Gamble, EHT's CEO comments that "We were several weeks behind schedule in the completion of our sample units and the finalization of the contracts for this opportunity due to the holidays. However, we remain confident in our product as well as in our ability to compete and win large housing contracts in West Africa as well as many similar projects around the globe."
EHT will provide further updates when the agreements are reached or as further developments warrant.
The EHT Advanced Modular Housing 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 customer requests for siding, tile, kitchens and bathrooms. The finished product can be shipped on pallets and can be delivered via rail, truck or water in standard formats.
At the core of the Enertec product, whereby the solar cells are embedded in a proprietary fire proof skin, is the substantial cost savings from eliminating heavy glass panels and aluminum racking, two significantly limiting factors in the adoption of solar because of weight limitations and onerous shipping and labour costs. A lighter product at a better price point will open up a larger market for solar because of faster payback times 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.
About EnerDynamic Hybrid Technologies
EHT delivers proprietary, turn-key energy solutions which are intelligent, bankable and sustainable. Most energy products and solutions can be implemented immediately wherever they are needed. EHT stands above its competitors by combining a full suite of solar PV, wind and battery storage solutions, which can deliver energy 24 hours per day in both small-scale and large-scale format. In addition to traditional support to established electrical networks, EHT excels where no electrical grid exists. The organization supplies advanced solutions for various industries in combination with energy saving and energy generation solutions. EHT's expertise includes the development of module structures with full integration of smart energy solutions. These are processed through EHT's production technologies into attractive applications: modular homes, cold storage facilities, schools, residential and commercial out buildings and emergency/temporary shelters.
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The statements herein that are not historical facts are forward-looking statements. Forward-looking information involves risk, uncertainties and other factors that could cause actual events, results, performance, prospects, and 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 in this news release, particularly those with respect to its ability to sell its products into this market and its ability to obtain and complete the contract, 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 as a result of new information, future events or otherwise, other than as required by applicable securities laws.
