EnerDynamic Hybrid Technologies Provides Update on Puerto Rico
Niagara Falls, Ontario--(Newsfile Corp. - June 7, 2019) - EnerDynamic Hybrid Technologies Corp. (TSXV: EHT) ("EHT") is pleased to provide an update (via updating its March 28, 2019 new release) on initiatives with its Puerto Rico partner, Brieke Family Assets Ltd ("BFA").
On June 6, 2019 the President of the US Donald Trump signed the bill passed on May 23, 2019. This now finally allows funds to flow to Puerto Rico and the start of the Hurricane relief can now begin in earnest. EHT and our JV Partner BFA are ready to begin as we have reported over the last months. We have an approved house design and we have a facility ready to start production on a large scale.
On May 23, 2019 the Senate of the US passed the Bill to start the flow of funds to Puerto Rico which President Donald Trump has now approved. Please see link below.
On March 27, 2019, Puerto Rico had passed a bill to radically transform the island's economy with renewable energy as the central pillar. The territory's legislature today approved Senate Bill 1121 (PS 1121), the Puerto Rico Energy Public Policy Act, which will set the island on a path to 100% renewable energy by 2050. The bill pushes the island to become a leader in clean energy technology that can better withstand future hurricanes and improve quality of life for Puerto Ricans.
This news follows EHT's March 5, 2019 press release, which stated that HUD Secretary Ben Carson had announced the approval of the latest Puerto Rico recovery plan, allowing the island devastated by Hurricane Maria in 2017, to start drawing on $8.2 billion for housing, economic revitalization and infrastructure. "I think this is a real opportunity for Puerto Rico to rebuild in a way that will really [allow it to] be the crown jewel of the Caribbean," Carson said in an interview.
Malcolm Wright, a director of BFA, stated, "HUD and CDBG-DR will oversee the R3 program in Puerto Rico providing qualifying families with vouchers to repair, relocate or rebuild their homes. The process has been underway in anticipation of the Bill signing. It is estimated more than 45,000 homes fall into the R3 qualifying criteria. This long awaited Bill is critical for the island of Puerto Rico's recovery. We have been working closely with all of the agencies, CDBG-DR, HUD, DOH, USDA and FEMA, and are ready to supply thousands of Cat5 hurricane proof, net-zero homes for the people of Puerto Rico commencing in the coming few months in full compliance with the 2018 IBC. The original intention of our JV with EHT in January 2018 was to set up a solar factory in Puerto Rico where EHT's unique solar panels could be manufactured. In addition, we were then very interested in utilizing the ENERTEC skin for the construction of low-cost houses in Puerto Rico via the strengthening the FRSIP panels for hurricane winds. This we solved in conjunction with EHT and Dr. Fernando Abruña, FAIA of Abruna & Musgrave, architects. We can now look to manufacture both the panels and the houses in the same factory. More than 45,000 low cost housing units are required in Puerto Rico and our FRSIP system is an ideal solution for building those units. The energy requirements of these homes will be over 800MW so we would look to add the EHT ENERTEC ultra-light embedded solar panels and systems to every new home's roof we supply to help reduce their operating costs and provide their energy supply".
John Gamble, CEO of EHT, commented, "Things can now start moving into place in Puerto Rico and with this latest announcement we truly have a better solution for Puerto Rico's energy needs as our panels are made of fiberglass and unlike glass panels don't break, can withstand storm debris and still be there after the next storm supplying power to our commercial and residential customers."
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45401