EnerDynamic Hybrid Technologies and Northern Shield Development Corporation Announce Modular Home Order
Niagara Falls, Ontario and Barrie, Ontario--(Newsfile Corp. - September 23, 2019) - EnerDynamic Hybrid Technologies Corp. (TSXV: EHT) ("EHT") and Northern Shield Development Corporation ("NSDC") are pleased to announce the commencement of production of their modular construction initiative using EHT's Enertec panels and a co-developed steel modular frame technology, as previously released June 17, 2019 and July 15, 2019 and September 5, 2019.
NSDC is a housing and development company largely focused on affordable housing that utilizes structurally insulated panels, modified shipping containers and steel frame modules to construct its projects.
NSDC has historically manufactured and procured the majority of its steel frame and modified shipping container modules offshore. "Given the current trade climate, the USD exchange rate and various other factors, we have been aggressively looking at an alternative way to manufacture our modules locally" says NSDC's President, Steve Marshall. "The Enertec structural panel is truly a unique product. This hybrid approach of using panels and steel has created an opportunity for us to fully replace our offshore production and create a made-in-Canada module using advanced building technologies."
Currently, NSDC has funded projects scheduled in Ontario and Quebec that would require over 200 modules in 2019/2020; NSDC has now made the design changes necessary to utilize the EHT Enertec design in 4 of these projects, which represent approximately 50 modules at present.
The modules will be constructed at EHT's Niagara Falls plant and then shipped to the project sites.
EHT has received a PO for the first 6 modules, which will go to NSDC's project affordable multi-residential development in Orillia, Ontario and will be delivered in late 2019. EHT has also a second PO pending for a 10 plex unit in Nunavik, Quebec. This project requires 13 modules and will commence production in November with delivery for spring 2020.
EHT has received a deposit on the first project and will receive a deposit and progress payments on the second project as EHT builds the units over the winter once the PO is confirmed. The combined value of the first 2 projects is approximately $1.5 million. EHT and NSDC are negotiating terms on the next two projects (3 &4), which have a combined value of over $4 million.
"The initiatives with NSDC represent a multi-million-dollar opportunity for EHT. The deals are structured very well for EHT and will provide us with significant deposits and progress payments, which will give EHT a steady cash flow" according to EHT's CEO, John Gamble.
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.
ENERTEC Products have received CAN/ULC 102 Fire Rating along with ASTM E72-15 approval for "Standard Test Methods of Conducting Strength Tests of Panels for Building Construction"
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Northern Shield Development Corporation
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