NIAGARA FALLS, ONTARIO and BARRIE, ONTARIO / ACCESSWIRE / January 21, 2020 / EnerDynamic Hybrid Technologies Corp. (TSX-V:EHT) ('EHT') and Northern Shield Development Corporation ('NSDC') are pleased to update the production of their modular construction initiative using EHT's Enertec panels and a co-developed steel modular frame technology as previously released June 17, July 15, and September 5 & 23, 2019.
NSDC is a housing and development company largely focused on affordable housing that utilizes structurally insulated panels, modified shipping containers and steel frame modules to construct its projects.
NSDC has historically manufactured and procured the majority of its steel frame and modified shipping container modules offshore. 'Given the current trade climate, the USD exchange rate and various other factors, we have been aggressively looking at an alternative way to manufacture our modules locally' says NSDC's President, Steve Marshall. 'The Enertec structural panel is truly a unique product. This hybrid approach of using panels and steel has created an opportunity for us to fully replace our offshore production and create a made-in-Canada module using advanced building technologies.'
Currently, NSDC has funded projects scheduled in Ontario and Quebec that would require over 200 modules in 2020; NSDC has now made the design changes necessary to utilize the EHT Enertec design in 4 of these projects, which represent approximately 50 modules at present. The modules will be constructed at EHT's Niagara Falls plant and then shipped to the project sites. Units vary in size and different thickness of EPS, so cost of each module is different for each project, units with thicker EPS costing more; margins will be 35% - 40% on all units.
EHT has received a PO for the first 6 modules which will go to NSDC's affordable multi-residential development project in Orillia, Ontario. The project had a delayed start; however, the panels are currently being produced in Niagara Falls and will now be delivered in February 2020.
EHT has also been issued a second PO for a 10-plex housing complex in the Nunavik region of Northern Quebec. This project requires 13 modules and will commence production in mid-February with delivery for late spring 2020.
NSDC has confirmed a project with Habitat for Humanity Huronia for a 5 plex in Barrie, Ontario and expects to issue a PO to EHT in March 2020 for a spring delivery. This unit will comprise of approximately 7 modules.
EHT has received a deposit on the first project and will receive a deposit and progress payments on the second project as it builds the units. 'The initiatives with NSDC represent a multi-million-dollar opportunity for EHT. The deals are structured very well for EHT and will provide us with significant deposits and progress payments which will give EHT a steady cash flow' according to EHT's CEO, John Gamble.
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.
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.
ENERTEC Products have received CAN/ULC 102 Fire Rating along with ASTM E72-15 approval for 'Standard Test Methods of Conducting Strength Tests of Panels for Building Construction'
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.
Northern Shield Development Corporation
SOURCE: EnerDynamic Hybrid Technologies Corp.
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