EHT PROVIDES CORPORATE UPDATE
NIAGARA FALLS, ON / ACCESSWIRE / February 24, 2021 / EnerDynamic Hybrid Technologies Corp. (TSXV:EHT) ("EHT") is pleased to provide an update on current operations since its corporate update on December 22, 2020 and to its January 25, 2021 press release about the acquisition of Windular Research and Technologies, share consolidation, debt restructuring and proposed financing.
- EHT has received a purchase order from Matrix for 12 standard heli-units and 2 new 6-Plex heli-units. The dozen heli-units are the regular 9' x 12' units EHT supplied last fall and each of the new 6-Plex heli-units is a 54' x 72' unit that can be used as a mess hall.
- "We are adding a CNC machine to our Niagara Falls facility to speed up and lower production costs of these units and other units we are working on," remarked EHT's CEO, John Gamble.
- EHT and its JV partner, Brieke Family Assets, are pleased to announce the following updates in Puerto Rico for their jointly owned company, Cat5 Solar and Microgrids:
- Cat5 Block and SIPs have now been certified by the Puerto Rico Office of Permits to build homes.
- We anticipate that the first homes will be started in late March after allowing for the necessary 28-day drying time.
- The Biden administration has now released US$1.3 Billion in housing funds that were held up by the previous administration and has committed to release a further US$4.9 Billion in the coming weeks from CDBG-MIT that was also held up.
- Biden's administration has further reallocated US$9.6 Billion in funds for Renewable Energy infrastructure instead of building natural gas power stations to building solar and wind renewable energy facilities. We plan to be part of this renewable energy solution for the Island by using our locally made solar panels, which are virtually unbreakable as compared to a glass panel when placed on our specially designed concrete racking system for solar farms.
Proposed Financing Update
- EHT has agreed with its corporate advisors to change the proposed financing from a "private placement" to a "prospectus offering". EHT is currently working on the prospectus, which will give investors free trading stock once the financing is completed. EHT now anticipates the transaction will close in early April.
- Mr. Gamble also commented: "We are moving as fast as possible to complete this acquisition/restructuring/financing; once completed, we will be in a very good position to hit all our sales targets for this year and in the coming years."
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 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.
SOURCE: EnerDynamic Hybrid Technologies Corp.