EnerDynamic Hybrid Technologies, CAT5 Solar and Microgrids and Danosa Caribbean Inc. Provide Update on the Strategic Partnership
EnerDynamic Hybrid Technologies Corp. (TSXV: EHT) (“EHT”) its joint venture partner, CAT5 Solar and Microgrids (“CAT5”), and Danosa Caribbean Inc. (“DCI”) are pleased to announce they have now formalized their joint venture agreement to distribute the EHT panels and OutBack equipment in Puerto Rico and the US Virgin Islands.
EnerDynamic Hybrid Technologies Corp. (TSXV: EHT) (“EHT”) its joint venture partner, CAT5 Solar and Microgrids (“CAT5”), and Danosa Caribbean Inc. (“DCI”) are pleased to announce they have now formalized their joint venture agreement to distribute the EHT panels and OutBack equipment in Puerto Rico and the US Virgin Islands. They will sell into both the retail and the commercial markets, which are ideal for the EHT panels that will be mounted flat on the rooftops so future hurricanes will not blow them away as no racking is required for the EHT panels. Furthermore, the panels will not break if storm debris hits the panels, so the users of the panels will be assured of power even after future storms have passed.
The JV has formally committed to achieve minimum sales targets in the JV agreement, which if not met will see the JV lose their contractual exclusivity clause. If their targets are met, then, after the first year, EHT has agreed to extend the JV license for a further 5 years. This will ensure EHT of a continuous flow of sales revenue as its business moves forward.
John Gamble, CEO of EHT, commented “The addition of DCI to the Cat5 and EHT Puerto Rican JV team has bolstered their collective financial and market strength needed in the Puerto Rico market. With the JV agreeing to the minimum order requirements, this demonstrates its commitment to, and support for, EHT’s solar products”.
DCI has been in business for 40 years, utilizing a sales force dedicated to the sale of commercial roofing products throughout the Caribbean. DCI will add the EHT ENERTEC products to its sales efforts. EHT’s relationship with Elevate Finance will now become integral to CAT5 as Elevate will be able to offer financing to the commercial rooftop solar and roofing purchasers.
Established in 1978, DANOSA® CARIBBEAN, Inc. is a world-class manufacturer of SBS and APP roll waterproofing membranes and distributor of other roofing solutions such as green roofs, cool roofs, and solar roof systems. For the last 40 years DCI have been delivering the highest quality solutions for Architects, Roofers and Contractors, Building Owners and Developers for their roofing and waterproofing needs. DCI also serve Distributors and Manufacturers interested in the products that DCI manufacture.
DCI award-winning products can be used as top finishes, under tiles, shingles, metal roofs, and solar panels in diverse applications: roofing, below grade, and beyond. DCI are proud recipients of UL, FM, Energy Star, Miami Dade County approvals. Danosa Caribbean is a certified minority and women-owned business.
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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