ENERDYNAMIC PROVIDES UPDATE ON THEIR JVS CAT5 COMPANIES ENDEAVORS IN PUERTO RICO

ENERDYNAMIC PROVIDES UPDATE ON THEIR JVS CAT5 COMPANIES ENDEAVORS IN PUERTO RICO

admin 18/01/2021 2112 0

NIAGRA FALLS, ON / ACCESSWIRE / January 18, 2021 / EnerDynamic Hybrid Technologies Corp. (TSXV:EHT) ("EHT") is pleased to provide an update on initiatives with its Puerto Rican JV partner, Brieke Family Assets Ltd ("BFA"), and their endeavors with their Cat5 companies in Puerto Rico.

On January 15th, 2021 the Cat5 companies received their license (#2020-ASP-000382) from the permit management office (OGP) in Puerto Rico with permission to use their Block and SIP systems (as set out below) throughout Puerto Rico. This means that the JV can now set up the factory in Villalba next month to produce the roof and internal wall SIPs, which will be used to build the internal walls in homes and insulate the roofs up to R50. The same factory will be used to manufacture the Cat5 Solar panels with laminates supplied from EHT's Niagara facility to capitalize on the billions of US dollars of renewable energy programs due to be released in the next 60 days. The JV will also be able to export the products to the US mainland to take advantage of the "Made in America" program.

On January 13th we submitted a bid to the Puerto Rican Department of Economic Development and Trade for their test program to provide emergency power to the homes of low-income households. If we are successful in our bid, it is expected that a program will be organized by this Department to provide emergency power to thousands of homes.

In December, we joined the Solar + Energy Storage Association of Puerto Rico (SESA), which provides a unified voice for a strong solar and storage industry in Puerto Rico. They are an affiliate of the Washington, DC-based Solar Industries Association. Their mission is to accelerate the adoption of solar and storage in Puerto Rico. They encourage good decisions at the Energy Bureau, Legislature, Executive & Federal Agencies and help SESA members understand the importance of policy opportunities.

Currently the following solar opportunities are in the course of being rolled out in Puerto Rico:

  • Puerto Rico Energy Power Authority (PREPA)

The Intregrated Resourse Plan (IRP) is now finalized

    • all Motions for Reconsideration rejected by the Energy Bureau
    • PREPA did not file a Motion for Reconsideration
    • IRP, & subsequent orders, requires RFPs to be issued every 6 months,

totaling 3,500MW of renewables

    • = 40% of 16 TWh/yr by 2025
    • First RFP required to be 1,000MW renewables with at least 500MW

storage, ordered to be issued by end of December 2020

    • Still has not been issued
    • RFPs for 500MW of renewables to be issued every 6 months through

summer 2023

    • CDBG-MIT (Mitigation) - $8.3bn
    • $500 million for renewables in the proposed Action Plan
    • Proposed and sent to HUD for approval on Dec 3rd
    • Now awaiting federal HUD approval of Action Plan
    • CDBG-DR (PREPA) $1.9bn
    • $1.9 billion dedicated to "the grid"
    • Awaiting publishing of Federal Register
  • CDBG-DR-R3 $3bn - Construction
    • Now under way with approximately 250 homes started late in 2020 with an estimated 27,000 homes covered by the program. The JV's agreement with the contractor, WG Pitts Caribbean, and now with the OGP permit in hand allows us to apply to Vivienda to use our Cat5 products in this program. With the speed of construction and the benefits of R30+ insulation in the walls and up to R50 in the roofs, the JV believes we have a superb solution to enable safe, resilient and sustainable homes to be built for this program and the closed cell foam and the honeycomb of rebar in the walls will hold the homes together during seismic events.
  • CDBG-DR - $300m - Solar
    • $300 million dedicated to small solar + storage systems for R3 houses
    • Only for homes otherwise being constructed or reconstructed by

CDBG-DR funds, through Vivienda's R3 program

    • Around 15,000 homes total
    • RFP expected early 2021 for the first 5,000 of these homes
    • Projected 1,000 homes solarized by end of summer 2021

Cat5 companies will provide the following products to contractors in Puerto Rico:

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 laid during construction reducing time for the skilled trades. Allows the external walls to be finished in half the time the traditional systems take and will not be damaged if the home is flooded.

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 except 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. Allows the internal walls and roof to be finished in half the time the traditional system takes and the internal walls will not be damaged if the home is flooded.

Cat5 Solar panels 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 our Enertec 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 offers Island contractors up to 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.

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.

FOR FURTHER INFORMATION PLEASE CONTACT

John Gamble Director (289) 488-1699
[email protected]
[email protected]
Website: www.ehthybrid.com

SOURCE: EnerDynamic Hybrid Technologies Corp