EnerDynamic Provides Update on Puerto Rico and Its Plans for Its new $100M Line of Credit from Brevet Capital
NIAGARA FALLS, ON / ACCESSWIRE / July 30, 2020 / EnerDynamic Hybrid Technologies Corp. (TSXV:EHT) (“EHT”) is very pleased to provide an update on initiatives with its Puerto Rico JV partner, Brieke Family Assets Ltd (“BFA”), and their jointly-owned subsidiary, Cat5 Solar and Microgrids LLC (the “JV”)
The JV is now positioned with the new Brevet Puerto Rico credit line in place to firm up orders from contractors that the JV has been in negotiating with over the last months. It will also allow the JV to ramp up its sales force to maximize its product sales to as many of the 40,000 homes that are in the first allocation released as reasonably practicable.
Malcolm Wright, a director of BFA, said “the JV will market and sell all our Cat5 products to contractors in Puerto Rico; here are the products we will offer:”.
Cat5 Blocks, a patented block design, will be produced by Rosa Block in Rio Grande, Puerto Rico. The system can be engineered to withstand in excess of 200 mph winds and seismic activity. It can be constructed in half the time of a normal concrete masonry unit (CMU) requiring only 10% skilled labor, which is scarce in Puerto Rico, meaning 90% unskilled labor can be pooled and utilized from the local community. The system provides insulation of R30+, making it very desirable for the local climate. The electrical and plumbing is pulled through the courses of the block as it is layed during construction reducing time for the skilled trades.
Cat5 Structural Insulated Panels (SIPs) to be used as internal walls consisting of an insulating foam core placed between two structural facings; typically, oriented strand board (OSB) is used. The Cat5 SIP uses Enertec skin and/or Enertec skin and cement board. The panels will be manufactured in Villalba, Puerto Rico under factory-controlled conditions and can be fabricated to fit most building designs. Manufactured and finished in the factory, the conduit for electrical and plumbing are completed rapidly.
Cat5 roof SIPS are designed to lay over galvanized steel trusses which are attached to the top two courses of the Cat5 walls. The galvanized trusses have a built in pitch via the positioning of the top chords so water will easily run off the roof.
Cat5 Solar are designed to withstand sustained wind speeds up to 250 mph. The panels also will be manufactured in Villalba in the same facility as the SIPs. Using N cell technology, they produce up to 400 watts of power; should a projectile damage a specific part of the panel, it will only render that small section of the cell it hits useless, opposed to traditional panels that would no longer work in their entirety. Mounted on the EPS foam and Enertec skin provides additional insulation and weighs significantly less than traditional glass panels. Each panel can be laid flat on the roof.
Cat5 products are ideal for any buildings up to 8 stories, especially in at risk high wind and seismic areas of the world. Cat5 will offer Island contractors 90 days interest free credit subject to the use of Cat5 products and an assignment of the relevant portion of the government debt owed on the completion of the project. The use of Cat5 products will provide the contractor with higher profit margin, faster build time, labor cost savings, built to CAT5 specifications, resulting in more resilient and sustainable homes.
John Gamble, CEO of EHT, stated “This long awaited venture is now about to come to fruition and the timing of the new $100M credit line is perfect as it enables us to roll out the Cat5 product line for the recently-released R3 and other government building and renewable energy programs that will likely last for the next decade”
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 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 fireproof 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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