EnerDynamic Hybrid Technologies Updates Ghana Joint Venture Activity
- Joint Venture Commences Sales
- Initial Order Received for ENERTEC PWR Wagons
- Government of Ghana Announces 200Mw Solar Roof Top Program
Toronto, Ontario--(Newsfile Corp. - February 21, 2018) - EnerDynamic Hybrid Technologies Corp. (TSXV: EHT) ("EHT") is pleased to announce that, further to its news release of November 30, 2017, the Joint Venture ("JV") with Groupe Nduom ("GN") has begun sales and distribution of Solar Panels and Solar Systems in Ghana.The JV has also been focused on all product sales and has now placed the first order with EHT for 30 ENERTEC Power Wagons (each a "PWR Wagon"). Each PWR Wagon will retail for up to $20,000 USD, depending on capacity ordered. EHT has agreed to provide the JV with a minimum of 30 PWR Wagons per month through June 2018. Thereafter, EHT will supply the JV with up to 50 PWR Wagons for the balance of 2018. The JV targets to reach sales of approximately 390 PWR Wagons for the period April to December 2018.
The PWR Wagon is a trailer, haulable behind most pickup trucks, customized to provide a remote site power source via its self contained solar energy system. All sides of the trailer are constructed of solar panels, feeding into an integrated battery bank. The trailer can provide up to 3kw of solar energy depending on the size of trailer and can store up to 8 kwh battery charging depending on the weight of the trailer. These systems are intended to provide power in outlying areas as well as emergency power for disaster and humanitarian needs. Additionally, the PWR Wagon can be used for construction site charging of cordless tool battery packs, operation of power washers, fans and work lights. A single PWR Wagon can charge over 1,000 smartphones simultaneously when outfitted for emergency services applications.
Consistent with EHT policy, a deposit is required prior to commencing fulfilment. Agreed terms will see the JV provide EHT with a 50% deposit on every order with the balance due on delivery to Accra, Ghana.
The Government of Ghana has recently announced the implementation of a 200Mw Solar Rooftop Program (which would equate to 66,667 systems of 3kw capacity) whereby the government will pay the homeowner up to 50% of the cost of a solar system to be installed to their rooftop. This will certainly help to increase the uptake of the JV's solar program that is now underway with EHT's JV partner's affiliated company GN Power.
Mr. John Gamble, EHT's CEO, commented that "We are very pleased with our progress in Ghana. The market for solar and our ENERTEC products are growing every month." Mr. Gamble went on to state "The setup of our JV in Ghana has given us a competitive advantage over all other solar companies. Since EHT sends components to Ghana for final assembly, we are only charged a 5% duty rate where other companies with finished panels receive a 35% duty rate."
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 are 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 involves risk, uncertainties and other factors that could cause actual events, results, performance, prospects, and 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 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 as a result of new information, future events or otherwise, other than as required by applicable securities laws.
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