EnerDynamic Hybrid Technologies Receives Conditional Approval of Windular Acquisition & Resumes Trading on TSXV Under Symbol “EHT”
NIAGARA FALLS, ON / ACCESSWIRE / August 19, 2021 / EnerDynamic Hybrid Technologies Corp. (TSXV:EHT) ('EHT' or the "Company"), a global leader in renewable energy technologies, is pleased to announce that it has received conditional approval from the TSX Venture Exchange regarding the previously-announced acquisition of Windular Research and Technologies Inc. ("Windular") and its state-of-the-art ‘Smart Tracking' turbine system designed for the telecom industry. The combination of EHT and Windular creates a diversified solar and wind leader with a well-funded balance sheet and a strong multi-channel sales and distribution network positioned for growth in the global residential, agriculture and telecommunications markets.
Highlights of the Windular Transaction
- Powerful Clean Tech Product Portfolio - Windular's innovative wind turbine system enhances the EHT value proposition with an unmatched green energy solution for a global market sector demanding a reduction or elimination of the reliance on a diesel generator power source.
- Grows Global Presence - engagements with Telenor Group, a leading public telecommunications company across Nordics and Asia with a $32B market cap, and Bell Canada, the country's largest telecommunications company, provide an opportunity to scale across hundreds of off-grid towers in the next 12-24 months.
- Proprietary ‘Smart Tracking' System - sources and positions the wind turbine system to autonomously circumnavigate the existing telecom tower asset for the best wind locations including proprietary safety mechanisms to protect the wind turbine against extreme weather conditions.
- Offsets Grid Unreliability and Reduces/Eliminates Diesel Power Dependence - for global rural and remote telecom towers that have limited or no access to grid power.
- Optimizes Product Verticals - wind technology will be integrated into EHT's residential and agricultural products, further improving EHT's ability to provide sustainable energy in all climates.
Faced with ever-increasing operating costs, the push to expand connectivity into remote corners of the globe and a strong effort to significantly reduce greenhouse gas emissions, mobile network operators require clean energy alternatives to rising fuel prices, costly logistics associated with fuel delivery, as well as generator service, maintenance and replacement.
"The combination of these two Canadian renewable energy leaders provides a unique opportunity to offer cutting-edge technology through a shared portfolio of clean energy solutions" said John Gamble, Chief Executive Officer of EHT. "We are excited to welcome Jerry Foster and the Windular team and look forward to accelerating the development of our core solar, wind and modular technology to scale into additional product verticals. The future lies in sustainable renewable innovation, which EHT is creating today."
Jerry Foster, President of Windular will join EHT as the Company's new President and Corporate Secretary.
"We are thrilled to join forces with EHT to offer a comprehensive suite of clean energy solutions to the global telecom market," said Jerry Foster. "More than one million of the world's existing towers rely solely on diesel fuel for power. Windular has a leading-edge solution in the market providing a cost-effective renewable wind energy that can be adapted to all tower configurations. The opportunity to integrate EHT's solar technology will provide our current and future clients a full turn-key renewable solution."
The global shift from 4G to 5G networks will see telecom provider operating costs increase significantly, positioning Windular as one of the few cost-effective energy efficient solutions available in remote areas.
As a result, Windular has seen considerable growth over the last year and is in final negotiations with a major global telecommunications client to supply wind systems in 2022 to reduce their reliance of diesel consumption. Beyond telecom towers, Windular technologies will benefit all EHT products by enhancing the Company's ability to deliver sustainable technology solutions and increasing its reach to all corners of the globe. EHT is also poised to:
- Build hundreds of homes in Puerto Rico as part of a massive hurricane recovery effort, using virtually indestructible building materials powered by its ultra-light solar panels; and
- Construct portable "grow pods" outfitted with solar panels (which require no electricity or fossil fuel) to First Nations communities in Canada, working to solve a food crisis that costs the government and other entities hundreds of millions per year
Puerto Rico Residential Rebuilding Project ($5M in Home Revenue Begins Construction in September)
EHT will utilize the net proceeds of the offering to advance its Puerto Rico residential rebuilding project (and its current 200 orders), which is expected to drive significant cash flow in the near term. Currently, the Company has 70,000 CAT5 building blocks completed in Puerto Rico, enough to build the first 35 lumber-free solar powered homes representing over $5M in revenue with average revenue of $150K per home and a strong 15% net margin. EHT's net-zero homes are built twice as fast as a standard home, capable of withstanding winds of over 200mph and are powered by EHT's ‘no-glass' solar panels that continue to operate if hit by debris. Construction will begin in early September.
"No other system in the world can build virtually indestructible net-zero homes this quickly at affordable prices," said Gamble. "We anticipate obtaining a market share of around 7.5 per cent initially and scaling our residential project in Puerto Rico to 50+ homes per month by March 2022."
As the U.S. Congress continues to appropriate funding (US$18B has been deployed to date) for Puerto Rico recovery efforts, an estimated 40,000 plus homes will be rebuilt in Puerto Rico over the next five years (US$69B allocated in total, both according to the Office of Recovery, Reconstruction and Resiliency).
"EHT is expanding our reach and capability to meet the demand of a rapidly growing industry while doing our part to ensure a more sustainable future for the planet," Gamble said.
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.
EHT has received conditional approval for the acquisition of Windular Research and Technologies Inc. (WRT). WRT 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 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.
This news release contains forward-looking statements. Forward-looking statements are statements that contemplate activities, events or developments that the Company anticipates will or may occur in the future. Forward-looking statements in this news release include, but are not limited to, those regarding EHT's products and solutions and the projected capitalization of EHT following the Acquisition and the Offering. Although the Company believes that the assumptions inherent in these forward-looking statements are reasonable, they are not guarantees of future performance and, accordingly, they should not be relied upon and there can be no assurance that any of them will prove to be accurate. These forward-looking statements reflect the Company's current expectations based on information currently available to management and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those projected. Risks and uncertainties include, but are not limited to, risks associated with general economic conditions, adverse industry events, marketing costs, loss of markets, future legislative and regulatory developments, the inability to access sufficient capital on favourable terms, the risk that the non-binding arrangements and informal understandings the Company has with third parties with respect to the Debt Conversion and the Offering will not develop into binding contracts, that the TSXV may not approve the Acquisition on terms acceptable to the Company or third parties involved in the forgoing transactions. Readers should refer to the risk disclosure included from time-to-time in the documents the Company files on SEDAR, available at www.sedar.com. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ from those anticipated. Forward-looking statements are not guarantees of future performance. The purpose of forward-looking information is to provide the reader with a description of management's expectations, and such forward- looking information may not be appropriate for any other purpose. Finally, these forward-looking statements are made as of the date of this news release and the Company assumes no obligation to update them except as required by applicable law. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
SOURCE: EnerDynamic Hybrid Technologies Corp.