EnerDynamic Provides Update on Puerto Rico – RFP $51.5m

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NIAGARA FALLS, ON / ACCESSWIRE / September 21, 2020 / EnerDynamic Hybrid Technologies Corp. (TSXV:EHT)(OTC PINK:EDYYF) ("EHT") is pleased to provide an update on initiatives with its Puerto Rican JV partner, Brieke Family Assets Ltd ("BFA"), and their jointly-owned subsidiary, Cat5 Solar and Microgrids LLC (the "JV").

The JV has assembled a professional management team consisting of WG Pitts Caribbean LLC, Expo Caribe, and Young & de la Sota to submit a formal bid on a RFP to build a new hospital in Vieques, Puerto Rico on a Design-Build basis with an estimated negotiated contract value of $51.5M; the JV plans to utilize part of its previously announced $100M credit line with Brevet Capital to finance this promising new project.

It is now 3 years since the aftereffects of Hurricane "Maria" rendered the Vieques hospital facilities uninhabitable. The hospital also housed the islands VA clinic and provided primary care to the island's veterans. In December 2019, Nydia Velāzquez, Elizabeth Warren, Robert Menendez, Raul Grijalvia, Bennie Thompson and Peter DeFazio wrote to FEMA to express their views that FEMA was failing to provide adequate resources and assistance in a timely fashion to the people of Vieques. In January 2020, FEMA announced a $39.5M allocation for the facility. The original RFP suggested a completion date on or before April 2024, being more than five and a half years after the onslaught of Hurricane Maria. The team found this date wholly unacceptable, for both the Vieques Municipality and its 9,000 residents, so much so that it turned the RFP on its head and suggested negotiating a Project Managed, Design-Build Guaranteed Maximum Fixed Price (GFP) contract to enable the hospital to be opened in phases by no later than the end of 2022. The team submitted this alternate RFP to the Municipality on September 9th.

Malcolm Wright, who led the professional team's RFP, remarked: "The reason for this extraordinary long date to deliver a new facility we believe is the way the project has been designed to be implemented and overviewed. To convert this into a Project Managed, Design-Build GFP contract will enable at least a year to be shaved off this time estimate, subject to any environmental challenges this project may have, and maybe substantially more time can saved. We were very pleased to offer the Municipality and the People of Vieques a turnkey Guaranteed Fixed Price (GFP) contract in the amount of $51,500,000 or such other sum as is negotiated between us to significantly reduce the time required to deliver a new state of the art hospital and healthcare center of a similar size to the previous building, except that the new buildings will be made of our resilient, sustainable materials and the majority of its power will come from our Cat5 fiberglass N Cell solar panels, which will not blow away in the next "Maria" type storm, will not break if hit by storm debris and will produce the necessary power after such a storm has passed to power the majority of the hospital/healthcare center plus providing it with all of the other benefits of using our construction materials and systems. In addition, we plan to prioritize the use of local labor and local subcontractors, and in conjunction with the Vieques Municipality, FEMA and COR3 will incorporate additional designs for future hospital and healthcare facility expansions as additional money becomes available in the future, including the possibility of CDBG (Community Development Block Grant) funded elderly housing on nearby land".

• For details about the hospital and the Municipality and islanders' plight please visit

https://news.medill.northwestern.edu/chicago/failing-healthcare-on-the-island-of-vieques/

Trump Unveils an Additional $13B for Puerto Rico and Pushes Return of Island's Drug Manufacturing.

President Trump announced plans to bolster pharmaceutical manufacturing in Puerto Rico from China and $13 billion in federal aid to Puerto Rico, during a news conference at the White House on Friday. The announcement directs the Federal Emergency Management Agency (FEMA) aid to restore Puerto Rico's electrical grid and rebuild schools, among other initiatives. The White House began reviewing legislation to return pharmaceutical and medical device manufacturing to Puerto Rico earlier this year, calling this "a national security issue and an economic security issue" in an interview with the Washington Examiner in June.

Speaking to the Washington Examiner on Friday, Rep. Jennifer Gonzalez-Colon, a Republican from Puerto Rico who has been working with the administration, praised the White House's response. "Everything that we asked, Trump delivered," Gonzalez-Colon said, calling the authorized funds "unprecedented" and pointing to more federal funds that have been approved to the island through Community Development Block Grant disaster relief.

"Never before was FEMA authorized to approve this amount of money to any other jurisdiction or state," she said. "Puerto Rico is the first one. And for us, this is the biggest allocations of funds, ever." She added: "We are talking about real money, real commitment, real funds.".

"We're bringing Puerto Rico back, and we'll have it very quickly, "President Trump said on Friday, calling the news "very exciting." He added: "We've spoken to many companies."

In a Trump campaign press call this week, former Puerto Rico Attorney General Jose Fuentes praised the administrations "plan to move pharmaceutical and medical device production back to Puerto Rico from China."

This $13B is in addition to the $49.975B already obliged by the Federal Government for Puerto Rico.

Please see https://recovery.pr/en and https://www.msn.com/en-us/news/politics/trump-unveils-2413b-for-puerto-rico-and-pushes-return-of-islands-drug-manufacturing/ar-BB19bSHi?ocid=uxbndlbing and https://www.whitehouse.gov/briefings-statements/statement-press-secretary-largest-fema-infrastructure-grants-awarded-puerto-rico/

John Gamble, CEO of EHT, commented, "We have had boots on the ground in Puerto Rico since November 2017 and finally Federal funds are being released for the rebuilding of the island's homes and infrastructure following the devastation caused by Hurricane Maria. We are in final discussions with a General Contractor to build 100 homes under the CDBG -DR-PR-R3 program (worth about $15M), which will showcase our products and show how easy they are to use using local unskilled labor for the majority of the construction and in half the time it takes for a traditional build. We plan to utilize our line of credit that we have with Brevet Capital wherever there is a government guarantee of payment for the contract. With now more than $62B of Federal monies earmarked for Puerto Rico taken together with our existing suite of promising Cat5 building and solar products, with the endorsement of "The Roberto Clemente Resilient and Sustainable Homes" announced on August 4, 2020, we are well positioned to take a good share of the business and provide the island with safe, affordable, resilient, sustainable "Net Zero" buildings that will not grow mold if flooded and can be engineered to withstand wind speeds of over 200 MPH. We also plan to set up a manufacturing facility in Villalba, Puerto Rico for our SIPs and N Cell solar in the last quarter of 2020. I look forward to making other important announcements over the next few weeks".

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 Systems 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.

About CAT5 Solar and MicroGrids

Cat5 Solar and Microgrids provide the following products to contractors in Puerto Rico:

Cat5 Blocks, a patented block design, will be produced by Rosa Block in Rio Grande, Puerto Rico. The system can be engineered to withstand in excess of 200 mph winds and seismic activity. It can be constructed in half the time of a normal concrete masonry unit (CMU) requiring only 10% skilled labor, which is scarce in Puerto Rico, meaning 90% unskilled labor can be pooled and utilized from the local community. The system provides insulation of R30+, making it very desirable for the local climate. The electrical and plumbing is pulled through the courses of the block as it is laid during construction reducing time for the skilled trades.

Cat5 Structural Insulated Panels (SIPs) to be used as internal walls consisting of an insulating foam core placed between two structural facings; typically, oriented strand board (OSB) is used except the Cat5 SIP uses Enertec skin and/or Enertec skin and cement board. The panels will be manufactured in Villalba, Puerto Rico under factory-controlled conditions and can be fabricated to fit most building designs. Manufactured and finished in the factory, the conduit for electrical and plumbing are completed rapidly. Cat5 roof SIPS are designed to lay over galvanized steel trusses which are attached to the top two courses of the Cat5 walls. The galvanized trusses have a built in pitch via the positioning of the top chords so water will easily run off the roof.

Cat5 Solar panels are designed to withstand sustained wind speeds up to 250 mph. The panels also will be manufactured in Villalba in the same facility as the SIPs. Using N cell technology, they produce up to 400 watts of power; should a projectile damage a specific part of the panel, it will only render that small section of the cell it hits useless, opposed to traditional panels that would no longer work in their entirety. Mounted on the EPS foam and Enertec skin provides additional insulation and weighs significantly less than traditional glass panels. Each panel can be laid flat on the roof.

Cat5 products are ideal for any buildings up to 8 stories, especially in at risk high wind and seismic areas of the world. Cat5 offers Island contractors 90 days interest free credit subject to the use of Cat5 products and an assignment of the relevant portion of the government debt owed on the completion of the project. The use of Cat5 products will provide the contractor with higher profit margin, faster build time, labor cost savings, built to CAT5 specifications, resulting in more resilient and sustainable homes.

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.

FOR FURTHER INFORMATION PLEASE CONTACT

John Gamble
Director
(289) 488-1699
jgamble@ehthybrid.com
info@ehthybrid.com

Website: www.ehthybrid.com

SOURCE: EnerDynamic Hybrid Technologies Corp.



View source version on accesswire.com:
https://www.accesswire.com/606920/EnerDynamic-Provides-Update-on-Puerto-Rico-RFP-515m

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