EHT's Puerto Rico JV Receives $21M Order For 141 Additional Homes & Begins Housing Construction
- Orders for 141 additional homes come from three new housing developments, representing over $21M in revenue for EHT (avg. $150K per home)
- 70,000+ CAT5 blocks have been manufactured so far in Puerto Rico, enough to build the first 35 net-zero homes
- EHT is using its virtually indestructible building materials powered by its ultra-light solar panels as part of a massive hurricane recovery effort to protect homes against future natural disasters.
NIAGARA FALLS, ON / ACCESSWIRE / September 20, 2021 / EnerDynamic Hybrid Technologies Corp. (TSXV:EHT) ("EHT" or the "Company"), a global leader in renewable energy solar and wind technologies is delighted to announce that EHT's Puerto Rico JV residential rebuilding project has received an order for 141 additional homes through three Puerto Rico based housing developments in Arroyo, Carolina and Vega Baja which will begin construction immediately.
EHT and its joint venture partner, Brieke Family Assets Ltd (BFA), use their patented design and sustainable materials to create high performance net-zero housing products for global residential, commercial, and public sector applications. As part of the massive hurricane Maria recovery effort, EHT and BFA had received 200 orders to build virtually indestructible cement block and solar-powered homes across Puerto Rico. The 141 additional orders announced today bring current housing orders to 341 with the JV starting construction immediately. The Company expects to finalize the first 35 homes by Q1 of next year and ramp up capacity to build 50+ homes per month starting in March 2022.
No other hurricane relief homes in Puerto Rico are built to net-zero standards with the JV homes using R30 insulation in the external walls and R22 in the roof which provide thermal resistance and enhanced home energy efficiency. No other system is built to be resilient and sustainable and can outperform the speed of construction by delivering new homes in less than 60 days.
As the U.S. Congress continues to appropriate funding (US$20.8B has been deployed to date) for Puerto Rico recovery efforts, an estimated 38,000 homes will be rebuilt in Puerto Rico over the next five years. An additional US$50B in allocated funding committed by Federal Agencies is currently being rolled out, per the Office of Recovery, Reconstruction and Resiliency).
The JV is working feverously to contract with the five municipalities that suffered from the earthquakes of January 2020 as contracts for the first $34M are due to be released on September 23, 2021.
"We are thrilled to receive this additional housing order and vote of confidence for 141 new homes across Puerto Rico which come as a result of the years and millions spent on permitting, research and materials. No other system in the world can build virtually indestructible homes this quickly at affordable prices and we expect many more orders to come," said John Gamble, CEO of EHT. "As the fourth anniversary of Hurricane Maria passes, we are encouraged that the US administration has finally prioritized recovery efforts with allocated funding now making its way to those in need on the island. Our net-zero homes are not a temporary solution. We're constructing permanent housing that can face future decades of natural disasters and stand up to new storms and earthquakes without relying on the current infrastructure or unreliable electric grids."
EHT's net-zero homes are built twice as fast as a standard home using local unskilled labor for 90% of construction, capable of withstanding winds of over 200mph and are powered by EHT's ‘no-glass' solar panels that continue to operate if hit by flying storm debris.
EHT Net-Zero Home Advantages
- Built Fast - Cat5 ‘Lego' type designs allow homes to be manufactured locally and built using 90% unskilled labor in less than 60 days off of a slab.
- ‘Lego' Block Design - Wall systems require no sheetrock, fiberglass, or wood, instead the insulation is integrated within the blocks meaning no risk of mold if the home gets flooded.
- Seismic Engineered - Reinforced concrete design is flood resistant and can withstand winds of over 200mph making these homes the most sustainable solution to protect against future disasters. The closed cell foam holds the walls together in the event of a seismic event.
- Solar Powered - EHT's proprietary solar technology is integrated as a multi-layer composite structure within the panels which can be made up to 20 feet long with the stringing constructed inside of the panel, generating more energy per square meter, resistant to breakage and powered off-grid.
- Highly Profitable - Average revenue of $150K per home and a strong 15% net margin for EHT.
BFA prepared the following presentation highlighting the benefits of the BFA/EHT JV building solutions, including the award-winning blueprint designs which can be viewed here: https://www.youtube.com/watch?v=fdnWHnJdKqg.
A short video of the JV's home block production line can be also viewed here: https://www.youtube.com/watch?v=p5uZMC_CD8Y.
EHT currently has 70,000 CAT5 building blocks completed in Puerto Rico, enough to build the first 35 net-zero homes. Blocks required for the remaining orders are currently in production and will be finalized by Q1 2022.
In July, President Biden revived the White House Puerto Rico task force to advance rebuilding efforts in the U.S. territory following the devastating Hurricanes Maria and Irma in 2017, the recent earthquakes and the ongoing pandemic.
About EnerDynamic Hybrid Technologies
EHT (TSXV: EHT) delivers proprietary, turn-key energy solutions which are intelligent, bankable and sustainable. Most energy products and solutions can be implemented immediately wherever they are needed. EHT stands above its competitors by combining a full suite of solar PV, wind and battery storage solutions, which can deliver energy 24 hours per day in both small-scale and large-scale format. In addition to traditional support to established electrical networks, EHT excels where no electrical grid exists. The organization supplies advanced solutions for various industries in combination with energy saving and energy generation solutions. EHT's expertise includes the development of module structures with full integration of smart energy solutions. These are processed through EHT's production technologies into attractive applications: modular homes, cold storage facilities, schools, residential and commercial outbuildings and emergency/temporary shelters. The Windular Research and Technologies Inc. (WRT) division provides leading edge wind technology to the global telecommunication market whereby the WRT system can be implemented directly on any configuration of existing or new towers. WRT provides a renewable source of power in remote and rural locations where the primary source of power is diesel. WRT's innovative system provides clients with a lower overall operating cost as well as a reduction in their carbon footprint.
For further information please contact:
Chief Executive Officer
EnerDynamic Hybrid Technologies
Email: [email protected]
Neither the 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.
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