EHT (TSXV: EHT) Signs Letter of Intent to Acquire U.S. Military Housing Contractor
Toronto, Ontario - December 22, 2016 (Newsfile Corp.) (Investorideas.com Newswire) Enerdynamic Hybrid Technologies Corp. (TSXV: EHT) ("EHT" or the "Company"), has signed a letter of intent to acquire Fairfax, Virginia based EEB Systems LLC, the modular housing division of U.S. government contractor Technology and Supply Management LLC.
The acquisition of EEB Systems, expected to be concluded in the next 90 days following due diligence, will give EHT an entry into the lucrative market of building barracks in largely foreign locations for the U.S. military, of which EEB has successfully completed over US$20-million of such projects. Terms of the deal are to be negotiated upon completion of the due diligence period.
EEB has developed a unique modular housing system proven by the U.S. Army to deliver energy savings in excess of 65% over conventional barracks and when combined with EHT's Enertec embedded solar roof will render these buildings self sufficient for cooling, heating and lighting.
The complementary technologies, which will also benefit from EHT's fire retardant skin, will give the combined companies a unique advantage for bidding on U.S. Government contracts.
As part of the transaction, the current President of EEB Systems will continue in his current role and also join EHT's management team.
EEB will also bring deep knowledge and experience in the area of project management, which will enhance EHT's capabilities for building large scale housing projects in Africa, specifically in Ivory Coast where EHT has signed a letter of intent on a project to build as many as 50,000 homes for a branch of the military.
The Company's innovative "Enertec" Embedded Solar Roof is a breakthrough in the industry, offered as part of EHT's Advanced Modular Housing Systems or as a standalone product in a carport, shed roof or as the roof of a solar powered emergency shelter. By embedding the solar cells into its unique fire proof skin, EHT has replaced the need to install heavy glass panels and aluminium racking, an application limiting weight load in traditional solar panels resulting in a much lighter and less expensive solar solution. EHT believes that this breakthrough will open up a large market for roof top solar, as many roofs were not designed to carry the weight of traditional solar panels. The lower cost will also drive faster paybacks for customers looking for off grid power or a replacement of ever increasing grid power costs. The entire EHT embedded solar roof becomes a massive solar panel capable of producing significantly more energy than the home requires, allowing the home to then become an important source of power for the local micro grid or large battery storage systems.
About EnerDynamic Hybrid Technologies
EHT delivers proprietary, turn-key energy solutions which are intelligent, bankable and sustainable. Most energy products and solutions can be implemented immediately wherever they are needed. EHT stands above its competitors by combining a full suite of solar PV, wind and battery storage solutions, which can deliver energy 24 hours per day in both small-scale and large-scale format. In addition to traditional support to established electrical networks, EHT excels where no electrical grid exists. The organization supplies advanced solutions for various industries in combination with energy saving and energy generation solutions. EHT's expertise includes the development of module structures with full integration of smart energy solutions. These are processed through EHT's production technologies into attractive applications: modular homes, cold storage facilities, schools, residential and commercial out buildings and emergency/temporary shelters.
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:
Company Website: www.ehthybrid.com
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