EnerDynamic Hybrid Technologies Signs MOU with Groupe Nduom of Ghana
Welland, Ontario (Newsfile Corp. - April 3, 2017) - EnerDynamic Hybrid Technologies Corp. (TSXV: EHT) ('EHT' or the 'Company') is pleased to announce that it has entered in to a Memorandum of Understanding (the 'MOU') with Groupe Nduom Limited ('GN'), a multi-national organization based in Ghana, West Africa to create a mutually-beneficial joint venture (the 'JV') in Ghana, West Africa.
GN, through its subsidiaries Coconut Grove Hotels, GN Bank, Ghana Growth Fund Company, Yorke Properties, Sterlin Management Services, and Ghana Media Group, focuses on tourism, investment advisory and management, financial services, technology, media, management consulting and sports sectors.
The JV is intended to facilitate the dynamic integration of manufacturing and distribution of the ENERTEC modular building/home technology through expansion and vertical integration within the GN group. Through GN, which is a long-established EPS foam production organization, EHT has now secured manufacturing capacity located directly in its target market of West Africa.
GN will manufacture the ENERTEC panels using its top-quality foam, forming the core of the ENERTEC wall panel while adding the EHT-supplied ENERTEC skin to produce a complete, proprietary module/panel. EHT will manufacture its Embedded Solar Roof sections at its Welland, Ontario facility and ship them to GN for final assembly and module integration. With the high cost of shipping and extended delivery schedules created by start-to-finish production in Canada, a high quality and stable manufacturing facility within market allows for a significant increase in margins and a critical reduction in the customer order-to-delivery cycle.
GN and the Company have agreed to jointly produce two build-to-suit ENERTEC units: a money store and a general store, both products sought internally within the GN group of companies for specific commercial segments. The parties will also seek co-branding opportunities across Ghana and other parts of West Africa, and they have further agreed to formalize the JV in the near term and to have the integral manufacturing facility therefor in production this summer.
Ghana's economy is one of the strongest and most diversified in Africa, following over 60 years of relative stability with a multi-faith population of approximately 27 million people. As a commercial market, Ghana represents an excellent opportunity to establish the ENERTEC brand and operations while at the same time providing access to other strong West African markets.
John Gamble, CEO of EHT, indicated that 'we are very pleased to have the opportunity to work with a world class organization like the Nduom Group. The Nduom organization offers, among other opportunities, the final piece in our West African strategy by ensuring our products can reach the market in a cost effective and timely manner.' He further comments that 'our expertise and exclusive products give EHT a very strong position in the West African market.'
ENERTEC house ready to occupy.
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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.
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.
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 the completion of a definitive agreement, manufacturing or 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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03.04.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English
Company: Enerdynamic Hybrid Technologies Corp.
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