EnerDynamic Hybrid Technologies' Puerto Rico Market Strategy Commences

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  • Joint Venture Agreement with Brieke Family Assets Ltd
  • Update on Sale of Peel District Schoolboard Contracts

Toronto, Ontario--(Newsfile Corp. - January 15, 2018) - EnerDynamic Hybrid Technologies Corp. (TSXV: EHT) ("EHT" or the "Company") today is pleased to announce that it has entered into a joint venture agreement ("JVA") with Brieke Family Assets Ltd ("BFA") to manufacture the Company's ENERTEC panels and solar systems for sales and distribution in Puerto Rico and the US Virgin Islands.

Hurricane Maria destroyed Puerto Rico's antiquated and bankrupt electrical system, leaving millions in the dark and utility crews scrambling to help. Even today, less than 60% of the Puerto Rican grid is working. As announced in numerous US press releases, FEMA and the US Federal Government have agreed to fund the reconstruction of these islands with funding expected to run into tens of billions of dollars. Ramon Luis Nieves, a Puerto Rican politician has stated "We need to focus on not only getting the grid back up, but improving it so it can tolerate more renewable energy." Puerto Rico Governor Ricardo Rosselló stated "I am 100 percent backing renewables". Gov. Rosselló told the Senate Energy and Natural Resources Committee "This is an opportunity to make microgrids in Puerto Rico so they can be sustained in different areas." He is requesting roughly $17 billion in federal funds to revive the island's energy sector, which now uses renewables for less than 3 percent of electricity generation.

In December 2017, a working group that includes representatives of the New York Power Authority, PREPA, Puerto Rico Energy Commission, U.S. Department of Energy, Navigant Consulting and others released its proposals, building on New York's experience after Superstorm Sandy five years ago and PREPA's recent efforts. The 63-page plan for Puerto Rico included a "Build Back Better" strategy spanning over a decade with a cost of $17.6 billion. Among its recommendations is the addition of $1 billion in microgrids for critical infrastructure and rural communities.

Mr. John Gamble, EHT's CEO, commented that "We are very excited about this joint venture agreement with BFA as it creates the opportunity for EHT to provide Puerto Rico with a locally made solution to its severe energy crisis. EHT's lightweight ENERTEC solar products, employed in a microgrid strategy will generate more reliable power for homes and businesses without the need for massive investment in power grid infrastructure." Mr. Gamble went on to state "We have a much faster solution that will be less expensive, and emissions free.  EHT's local JV strategy that is being implemented on a global basis, is designed to create local jobs in manufacturing and installation in the target counties where reliable, inexpensive power is not available. Puerto Rico, with its bankrupt power utility, high unemployment and a US government funded recovery plan, has provided us with an exciting opportunity to showcase our solutions".

Entrepreneurs, lawmakers, and activists want more of these small, closed-loop transmission systems called microgrids. These self-contained systems utilize battery storage capacity sufficient to maintain power all night. A Puerto Rico transformed into an archipelago of microgrids would also, in theory, better withstand future storms and deliver cheaper energy.

Companies like Tesla, Duracell, and the German energy storage firm Sonnen are already sending battery and solar supplies to Puerto Rico, building a toehold in what may be a lucrative rebuilding project. Solar power companies like SunRun and Vivint Solar are also joining the relief effort, pledging to bring hardware to the US territory.

Mr. Malcolm Wright, Director of BFA, stated that "The EHT panels are exactly what the island needs. They are light, add significant insulation to the roof structure thus saving on energy costs, can withstand Cat5 storm winds and debris (unlike glass panels), and unlike glass panels mounted on aluminium frames they require no grounding wires to be installed, and are perfect for single standalone insulations as well as for building microgrids".

EHT and BFA plan to open a manufacturing facility on the island (believed to be the first) during the summer of 2018 and in the meantime, the JVA will commence sales and import the EHT systems directly from its facilities in Welland, Ontario.

Peel Schoolboard Update

The purchaser of the Peel Schoolboard contracts, as previously announced by EHT on July 13, 2017, has recently advised the Company that the financial closing date has been pushed to early in the second quarter of fiscal 2018. Having received an extension to the original contract expiry dates, as a result of a force majeure, the purchaser is continuing to complete solar system installations and expects to finish in March 2018. The overall value of the purchase and sale agreement, for EHT's benefit, is tied directly to the number of megawatts installed. EHT management is pleased with the continuing increase in value for the shareholders of the Company. Further updates will be provided as events warrant.

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.

About ENERTEC

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 are 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 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:

John Gamble
Director
(289) 488-1699
[email protected]
[email protected]

Company Website: www.ehthybrid.com


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