EnerDynamic Hybrid Technologies Inc. (TSXV:EHT)(“EHT”) is pleased to provide an update on initiatives with its Puerto Rico partner, Brieke Family Assets Ltd (“BFA”).
On March 27, 2019, as reported by Forbes (link below), Puerto Rico has 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 our March 5, 2019 press release, which stated 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, “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 very interested in utilizing the ENERTEC skin for the construction of low-cost houses in Puerto Rico and strengthening the FRSIP panels for hurricane winds. This we solved in conjunction with EHT and Dr. Fernando Abruña, FAIA of Abruna & Musgrave, architects. Once this latest energy bill has been signed, we can now look to manufacture both the panels and the houses in the same factory. More than 40,000 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 the homeowners operating costs and provide their energy supply”.
John Gamble, CEO of EHT, commented, “Finally things have started dropping 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.”
Link to the Forbes article: https://www.forbes.com/sites/jamesellsmoor/2019/03/25/puerto-rico-has-just-passed-its-own-green-new-deal/
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.
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.
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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.