EnerDynamic Hybrid Technologies and Growratio Announce Sale of Micro Grow Unit with Option of 2 Additional Units
NIAGARA FALLS, ON / ACCESSWIRE / November 1, 2019 / EnerDynamic Hybrid Technologies Corp. (TSXV:EHT) (“EHT”) and Growratio (“GR”) are pleased to announce the sale of a Micro-Grow Unit to La Huerta Imports (“La Huerta”) with an option to purchase 2 more Units over the next two years.
La Huerta and EHT and GR have signed an agreement for La Huerta to purchase the first Micro-Grow Unit (to grow specific rare tropical berries utilizing EHT and GR technologies) at a cost of $1,200,000 with a deposit of $100,000 plus progress payments as the Unit is built. The agreement also stipulates La Huerta has an option to buy two more Micro-Grow Units at the same price over the next 2 years. The Units will be located in Niagara Falls and operated by EHT and GR, with the production of the rare tropical berries to begin immediately.
Jim Bruce, President of La Huerta, expressed his concern that climate change has significantly affected the regions where berries and other tropical produce are grown. Areas such as California, Mexico, South America and Asia are all being affected. The impact has reduced supply of many of La Huerta’s products and consequently increased the costs both to the firm and its customers.
La Huerta firmly believes that produce growers must leverage emerging technologies to solve current and future issues facing the industry. The traditional methods of growing and transporting food must be reimagined, and the industry must adapt by applying the various scientific disciplines of applied Controlled Environment Agriculture (CEA) to minimize costs and maximize production. By utilizing GR’s integrated suite of intuitive software, patented lighting systems and proprietary environmental control systems with EHT’s proprietary building systems and renewable power generation expertise, the economics of growing food that is protected from the risks of weather, pollution, and contamination is now much more attractive.
The EHT/GR platform enables vertically integrated cultivation operations to achieve higher quality, while maximizing energy efficiency, minimizing resource consumption and extending our growing season all year round. Most importantly this process is carbon neutral and poses minimal pollution threat to our fragile environment.
La Huerta’s commitment to champion a food security program motivates us to look to a future where we can deploy multiple Micro-Grow Units across the globe. With a fully integrated management and control system to support best practices and proven operating procedures, La Huerta can deploy production units closer to its customers, eliminating the monetary and environmental costs of long-distance transportation in traditional supply chains while providing a fresher and higher quality product to its customers.
EHT’s CEO, John Gamble, commented, “Our customer base continues to expand, and our micro-grow units are being used for many diverse segments of the Controlled Environment Agriculture market around the world. We are excited to work with Mr. Bruce and his customers in developing customized units for these rare tropical berries and other tropical produce.”
La Huerta President, and Founder, Jim Bruce, said “We at La Huerta are excited about this endeavour and the technology behind the Micro-Grow Units fits what we have been searching for over the last couple of years. All signs are pointing to some very exciting product releases for us. We are always looking to source the best exotic fruits money can buy to service our demanding customer base. With yearly increases in freight costs and the unpredictability of mother nature this EHT/GR growing system could be the holy grail for specialty products.”
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.
About La Huerta Imports
La Huerta Imports is a privately-operated family run business that was founded by Jim Bruce over two decades ago. Operating out of Toronto, Ontario and serving global markets, the family has established a reputation of supplying high quality tropical produce at competitive prices with brands buyers and retailers can trust.
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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