EnerDynamic Hybrid Technologies Provides Update on Puerto Rico
Niagara Falls, Ontario–(Newsfile Corp. – March 5, 2019) – EnerDynamic Hybrid Technologies Corp. (TSXV: EHT) (“EHT”) is pleased to provide an update on initiatives with its Puerto Rico partner, Brieke Family Assets Ltd (“BFA”).
On February 28, 2019, as reported in the Orlando Sentinel (link below), HUD Secretary Ben Carson announced the approval of the latest Puerto Rico recovery plan, allowing the island devastated by Hurricane Maria in 2017, to start drawing on $8.2 billion for housing, economic revitalization and infrastructure. “I think this is a real opportunity for Puerto Rico to rebuild in a way that will really [allow it to] be the crown jewel of the Caribbean,” Carson said in an interview. The announcement came one week after U.S. Rep. Darren Soto, D-Kissimmee, demanded to know why the recovery funds were taking so long to reach the island.
HUD indicated the funds will continue progress made by an initial $1.5 billion approved last summer, which started to flow to the island just within the past month. But Carson cautioned that the spending will come with “heightened scrutiny” on its use.
The new Fiberglass Reinforced Fire Retardant Structural Insulated Panel (“FRSIP”) are to be manufactured locally in Puerto Rico, as previously indicated, with the new access to HUD funds expected to justify the setup of a manufacturing facility in the near term. When appropriate, EHT’s engineering team will be in Puerto Rico to supervise the facility setup.
As announced on November 5, 2018, EHT and BFA completed the testing of a new FRSIP for use in hurricane susceptible regions and that system now meets requirements for use in Puerto Rico as well as the Bahamas. The new FRSIP system will allow over 90% of the home to be built by local contractors, using ENERTEC products with unskilled labor. A home is expected to be completed in approximately 60 days after the completion of the poured in place concrete base slab.
Malcolm Wright, a director of BFA, stated, “There are more than 40,000 low cost housing units required in Puerto Rico and our FRSIP system is an ideal solution for rebuilding those units. The system enables the walls and roof of a structure, made from our new FRSIPs, to be manufactured in a controlled factory environment. Additionally, the FRSIPs include conduits within the panels facilitating electrical/plumbing trades to complete work quickly. In contrast, the same new FRSIPs will be used for the first luxury show homes in Eleuthera on the new Tiger Woods designed Playgrounds at “Jacks Bay” in Eleuthera, Bahamas. We will start the foundations for these units later this month with the first luxury show home of approximately 8,000 sq. ft. being completed towards the end of the summer.”
Customers can also add the EHT ENERTEC ultra-light embedded solar photovoltaic panels and systems to every new home’s roof to help reduce operating costs and provide emergency energy needs.
John Gamble, CEO of EHT, commented that, “We started our relationship with BFA over a year ago on the basis that the rebuilding funds would be released in August of 2018. The unforeseen delays have allowed us to advance the FRSIP design. We have excellent professionals working with us including Dr. Fernando Abruna, FAIA of Abruna & Musgrave, architects. Known as the “Father of The Green Building Movement in Puerto Rico”, Dr Abruna is a licensed, practicing architect, a retired professor at the School of Architecture, University of Puerto Rico, and Fellow of the American Institute of Architects. He is also the Founding Past President of the US Green Building Council, Caribbean Chapter, and the publicly recognized authority in Sustainable Design and Construction in Puerto Rico. He has designed the award winning 2-bedroom “Maria’ replacement home and a 3-bedroom home for our joint venture with BFA. He believes our systems can be used in his award-winning Maria home making them affordable, sustainable, safe, healthy, efficient and resilient. I look forward to working with Fernando and our entire team on the ground in Puerto Rico to obtain a large share of the HUD monies just announced.”
Link to Orlando Sentinel story on HUD hurricane relief funding: https://www.orlandosentinel.com/news/puerto-rico-hurricane-recovery/
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 ship in standard formats.
At the core of the ENERTEC product line is the ENERTEC Embedded Photovoltaic 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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