EHT-V EnerDynamic Hybrid Technologies Announces Contract to Build 100,000 Houses 09/10/2018 8:00:00 AM
I don't know if the guys on SH have the math right but it is a big order
Welland, Ontario--(Newsfile Corp. - September 10, 2018) - EnerDynamic Hybrid Technologies Corp. (TSXV: EHT) ("EHT"), along with its new joint venture partnerUnified Construction and Investments Limited ("UCI"), and in conjunction with the Government ofGhana and the Ministry of Works and Housing (Ghana), are pleased tocome together to construct 100,000 affordable housing units in thecountry of Ghana. The final agreement, dated September 7, 2018,will see the units constructed over the next 10 years.
This joint project will see these houses built out in 10,000house units per year, which will be built across the 10 regions ofGhana. The Ghanaian Ministry of Works and Housing will beresponsible for the design of the houses, providing the land andensuring the sites have access to water, electricity and roads. Atthis time, there are sufficient sites prepared for the first 10,000units. This ministry will also assist EHT in providing all importpermits, licences and documentation required.
UCI, a Ghanaian company involved in the design, engineering andconstruction of housing, infrastructure works and financing, willprovide the construction of the houses in Ghana with EHT providingthe ENERTEC system of housing construction material and solarintegrated roof system. EHT will also bring the project to itsGhanaian partner, the GN Groupe, which will be able to provideofftake mortgages to the projected homeowners. EHT will also workwith its partners Elevate Finance and EDC to provide the additionalcapital required to build out the project on a phase by phasebasis.
The project is slated for 60,000 2-bedroom units and 40,0003-bedroom units. The 2-bedroom units will sell for US$33,600 andthe 3-bedroom for US$42,000. The EHT/UCI joint venture currentlyestimates a net margin of 7.5%-12% (approx. US$2,520-US$4,032 pereach 2-bedroom unit) and will provide future updates as the projectprogresses. Initial building for this project is scheduled tocommence in the 2nd quarter of 2019.
John Gamble, CEO of EHT, commented, "This project, the largestin the history of the ENERTEC product line, is the culmination ofmany months of work with all parties. EHT has been chosen for thisproject not only because of our superior ENERTEC system, but alsothe team of partners that we bring to the table."
About EnerDynamic Hybrid Technologies
EHT's expertise includes the development of its ENERTEC modulestructures with full integration of smart energy solutions. Using aproprietary skin and foam core that is stronger than traditionalwood or steel structural insulated panels, EHT provides exceptionalthermal energy efficiency in modular homes, cold storagefacilities, residential/commercial out buildings andemergency/temporary shelters. EHT works with its partners worldwideto erect the buildings on-site utilizing EHT staff and local crews.In addition to traditional support to established electricalnetworks, ENERTEC buildings excel where no electrical gridexists.
About ENERTEC
The EHT advanced ENERTEC Modular Wall and Roof System uses aproprietary skin and foam core that is stronger and more energyefficient than traditional wood or steel structures providing thehighest ratings for energy efficiency. EHT works with its partnersworldwide to erect the buildings on-site utilizing EHT staff andlocal crews. After installation, each structure can be furnishedand finished to meet the customer's requirements, including siding,tile, kitchens and bathrooms or segregated commercial rooms. Thefinished wall product can be shipped on pallets and delivered viarail, truck or water in standard formats.
At the core of the ENERTEC product line is the ENERTEC EmbeddedSolar Roof Module. Solar cells can be embedded in a proprietaryfire proof skin resulting in substantial cost savings byeliminating heavy glass panels and aluminum racking required fortraditional solar panels. Two barriers to greater adoption of solarenergy are weight limitations of the roof on which solar panelscould be deployed and onerous shipping and labour costs. A lighterproduct at a better price point will open a larger market for solardue to the faster return of capital investment especially for ruraland remote users looking to go off-grid. Furthermore, the entireEHT embedded solar roof becomes a massive solar panel capable ofproducing significantly more energy than the home requires,allowing the structure to then become an important source of powerfor the local micro grid or large battery storage systems.
Neither TSX Venture Exchange nor its Regulation ServicesProvider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy oraccuracy of this release.
The statements herein that are not historical facts areforward-looking statements. Forward-looking information relating tosales of the products (the "Opportunities") involves risk,uncertainties and other factors that could cause actual events,results, performance, prospects, for the Opportunities to differmaterially from those expressed or implied by such forward-lookinginformation. Although EHT believes that the assumptions used inpreparing the forward-looking information on the Opportunitiesoutlined in this news release are reasonable, undue reliance shouldnot be placed on such information, which only applies as of thedate of this news release, and no assurance can be given that suchevents will occur in the disclosed time frames or at all. EHTdisclaims any intention or obligation to update or revise anyforward-looking information, whether a result of new information,future events or otherwise, other than as required by applicablesecurities laws.
FOR FURTHER INFORMATION PLEASE CONTACT:
John Gamble
Director
(289) 488-1699
jgamble@ehthybrid.com
info@ehthybrid.com
Website:www.ehthybrid.com
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