EnerDynamic Hybrid Technologies Inc. (TSXV:EHT)(“EHT”) is pleased to announce that it has executed a Joint Venture Agreement (“JV”) with Growratio, (“Growratio”) based in Toronto.
Growratio is a provider of intelligent software and hardware for precision indoor agriculture, including advanced control systems, rich sensor networks, energy efficient lighting, and operational support tools powered by a highly scalable and robust cloud platform.
The JV provides that a new company called EHT AgTech Ltd. will be formed with EHT and Growratio having joint ownership thereof. The company will market Agricultural Grow Units that will utilize EHT’s Enertec Wall Panels, Lightweight Solar and off grid technology with Growratio’s superior cultivation technologies, energy efficient lighting and software technologies.
“Growratio’s vision is to utilize advanced technology to help vertically integrated cultivators achieve more with less,” says Paolo Pincente, CEO of Growratio Inc. “It’s no secret that sprawling controlled environment agriculture operations use massive amounts of energy both in Canada and abroad. Given the recent news that Canada’s climate is warming at twice the global rate, integrating renewables not only makes good business sense by reducing costs, but is critical to our future.”
John Gamble, CEO of EHT, commented, “The combination of our two technologies into one unit is truly unique in the marketplace; the possibilities for cultivators are endless. We are very pleased to get this arrangement completed.”
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.
About Growratio Inc.
Growratio develops technology-focused solutions for vertically integrated cultivation operations, utilizing patented hardware and software, proprietary processes, and innovative business models to deliver significant advancements in controlled environment agriculture. Growratio is situated in the heart of the MaRS Discovery District in downtown Toronto, where it operates the first laboratory in the MaRS complex authorized by Health Canada to perform activities with Cannabis.
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.