Welland, Ontario–(Newsfile Corp. – July 18, 2017) – EnerDynamic Hybrid Technologies Corp. (TSXV: EHT) (“EHT” or the “Company“) is pleased to announce that it has been awarded the contract to supply a 1,000kw solar energy system to Fresh Pak Ghana, a subsidiary of Groupe Nduom, an EHT joint venture partner.
The contract to supply the system includes ENERTEC ultra-light solar panels and supporting electronic infrastructure to generate, store and distribute the solar generated power. This is the second order that EHT has received from Groupe Nduom related companies; this order is just one of many orders to come through the manufacturing joint venture between the two parties.
Installation of the system is expected to commence in December 2017 with completion in January 2018, prior to EHT will build the Enertec Solar Skin’s in Welland and ship in mid-October to Ghana for completion. Revenues of approximately CA$2,000,000 are expected from this project. EHT utilizes a “percentage of completion” policy in recognizing project revenues and thus the majority of the revenues from this project will to be reported in Fiscal 2018.
Mr. John Gamble, CEO of EHT commented “Our new but growing relationship with Groupe Nduom is expanding as we had envisioned. This is just the start of many projects we will do through our manufacturing joint venture; we will assemble all the panels for this order in Ghana. Mr. Gamble added that “our expertise in this kind of system will allow EHT to exceed the expectations of our partner in Ghana. This project is very important to our entire team, giving them a further opportunity to demonstrate their commitment to excellence across the globe. Residential and industrial customers utilizing EHT’s Enertec Solar Systems benefit by having a less expensive and more reliable power source. This also allows the grid power saved by this process to be reallocated to other users thus saving the government substantial investment in power generating and transmission infrastructure. Mr. Gamble went on to say, “our expertise, our exclusive products and our exclusive distribution rights of the critical Alpha Outback electronic components that support the production of alternative energy gives EHT a strong position in the West African market.”
A deposit on the project, consistent with EHT credit policies, is expected to be received prior to execution of the contract.
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.
About Groupe Nduom
Groupe Nduom is a Multinational Family Holding Business of Ghanaian and American origin comprising of over 60 independent companies across several industries. The Group operates its diverse portfolio of business across three continents with a purpose to serve customers with enthusiasm, innovation and discipline.
Our businesses and social enterprises include entities in the Tourism, Investment Advisory and Management, Financial Services, Technology, Media, Management Consulting, Cross Border Trade and Sports industries. Groupe Nduom’s Managers are identifying growth opportunities within rapidly expanding West African countries and plan to leverage that growth throughout the African Diaspora world-wide over the long term.
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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