EnerDynamic Hybrid Technologies Announces Planned Entry Into Pakistan With Two Strategic Partners
Niagara Falls--(Newsfile Corp. - December 17, 2018) - EnerDynamic Hybrid Technologies Corp. (TSXV: EHT) ("EHT") is pleased to announce that it has entered into a Memorandum of Understanding ("MOU") with Izhar-Monnoo Developers (Pvt.) Limited ("IMD") to market self-sustaining, affordable green homes in Pakistan and other regions in which IMD has business interests. EHT and IMD intend to formalize a joint venture agreement early in 2019.
EHT previously announced, on September 28, 2018, that Ahmad Medix (Pvt.) Limited ("AMP") had ordered an ENERTEC model house with a 10Kw solar kit. Following continued business discussion, AMP has signed a Memorandum of Understanding ("MOU") with EHT and will also formalize a joint venture agreement early in 2019.
These two organizations, IMD and AMP, will focus on different market segments nationwide in Pakistan. The model house on order will be promoted by IMD and the solar kit and related ENERTEC products will be manufactured and marketed by AMP. AMP will concentrate on the sales of EHT's ENERTEC solar systems, shelters and PWR Wagons while IMD will concentrate on housing projects and developments.
The model home and solar system ordered in September will be installed in Lahore, Pakistan early in 2019 and will be used as a model for the current development that IMD is building called Dream Gardens Lahore, Phase II (www.izharmonnoo.com/dream-gardens-lahore/).
Dream Gardens Lahore, designed specifically for its 500-acre site, represents a self-contained, gated and secure residential community equipped with all modern amenities. Originally announced in September 2011, Phase I was delivered in June 2014 (1.5 years ahead of schedule) and is now home to more than 300 families. Dream Gardens Lahore Phase II, planned on an area of 200 acres, was announced in February 2017 by IMD with development work to be completed in the very near term. EHT and IMD will work together to introduce EHT's ENERTEC Housing into Phase II and other countrywide and Overseas projects.
AMP is a continuous Research & Development company applying leading edge technical as a unique manufacturer of specialty vehicles. Superior products arise through teaming with experienced engineers, designers and highly trained workmanship which ultimately provides impressive vehicle conversions. The main objective of AMP management is to achieve maximum customer satisfaction through quality products and unlimited service.
CEO of EHT, John Gamble, commented: "We are very happy to have attracted both AMP and IMD as partners in Pakistan. This shows that our ENERTEC products are being well accepted in the Pakistan marketplace. Having two large multi-national companies to partner with EHT is their way of showing that they are each committed to get the ENERTEC products out to their respective customer bases."
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.
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