EnerDynamic Hybrid Technologies and Maple Leaf Holdings Announce Burkina Faso Housing Order Gets Green Light
Niagara Falls, Ontario (Newsfile Corp. - October 10, 2018) - EnerDynamic Hybrid Technologies Corp. (TSXV: EHT) ('EHT') together with its African partner Maple Leaf Holdings SA, have reached the final stage necessary to proceed with the previously announced (see July 19, 2018 news release) order from the Government of Burkina Faso Housing Authority to immediately start the construction of EHT ENERTEC housing to help satisfy the need to build up to 40,000 homes.
EHT management has confirmed, by a site visit this week, that the site services for the project are ready thus allowing EHT to commence fabrication this fall following materials delivery and set up. EHT will send one ENERTEC house, based on the approved design, to be used as the model home. Shipment from EHT is expected on or about the first week of November with arrival in Burkina Faso in early January. That ENERTEC model home will be used to take deposits from purchasers and will eventually be sold, offsetting EHT's costs associated with its creation. All the homes are to be sold to the end buyer that have been pre-screened by the government and financial institutions. This screening process has been completed for the first 200 homeowners and deposits have been made. EHT will receive this deposit on each home before EHT will start the build and final payment will be on completion. The homes will sell, depending on the final design and amount of solar capacity selected, for $25,000 to $35,000 USD. The contract granted to Maple Leaf Holdings SA ('Maple Leaf'), will be subcontracted to EHT who is also a shareholder in Maple Leaf.
EHT was selected by the Ministry after testing of other building systems that failed to match EHT's superior ENERTEC product for build time and solar roof integration. Over the last 2 years, the existing construction companies have managed to complete just 500 homes of the 40,000 promised by the Government. EHT management began detailed discussions with the appropriate government departments last November and, after the process of design approval and inspections of the ENERTEC sample homes in Ivory Coast, approval has been granted to move forward. EHT will target a rolling increase in production and installation towards a targeted rate of 1,200 homes per annum by late 2019. EHT has also been asked to provide 1 Kw of Solar with 1.5 Kw Inverters and Battery to the previously built houses using the EHT ENERTEC Solar panels since no power has been brought to the site.
Mr. John Gamble, EHT's CEO, commented that, 'Management has worked very hard to bring this contract to this final stage. An established, critical factor in any of these large, government contracts has proven to be the delays in getting sites serviced and concrete pads poured, both of which are necessary first steps prior to construction. Having sites already serviced and ready to go overcomes the long delays we have experienced in other markets. We are a couple of months behind in shipping the model home due to delays in water and sewer service installation. The Government has continued to take the deposits on the houses during this period and I am very pleased to say this project has all green lights.'
About EnerDynamic Hybrid TechnologiesEHT 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 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 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.
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10.10.2018 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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