TORONTO, Jan. 6, 2016 /CNW/ - EnerDynamic Hybrid
Technologies Corp. ("EHT" or the "Company")
(TSX-V: EHT) via its wholly owned subsidiary,
EnerDynamic Hybrid Technologies Inc. ("EHTI") has entered
into an agreement (the "Supply Agreement") with Property
Inventor AB, Sweden ("Property
Inventor"), whereby EHTI has agreed to supply modular hotel
units for the safe housing of refugees in Sweden. The Supply Agreement represents an
opportunity for EHTI to supply products in one of its target
markets, and the supply of modular housing units, which is
supported by a program of the Swedish government, will be used to
house refugees and immigrants.
Property Inventor has an established track record having
installed 200 modular hotel rooms in the Stockholm area in 2015 and has now approved
and ordered EHTI's modular system for new orders. A "modular hotel
unit" is a specialty product within the modular home segment which
offers compact housing, on a multi-level platform, in order to meet
the specific needs of short term stay use. These units are rapidly
deployed and relocated as required to assist in the flow of
migrants and refugees across Sweden and the globe.
The Supply Agreement requires the delivery of 1,000 new modular
hotel units by EHTI to Property Inventor over the next 12 months,
representing revenue of approximately €21,500 or $32,000CAD per
unit, amounting to an aggregate contract revenue of €21,150,000 or
$32,000,000CAD. The Supply Agreement further requires a
90% payment at shipment of the modules and 10% upon
installation.
Roman Eder, CEO of EHT said, "Our
modular construction technology has proven to be an ideal solution
for the current refugee / immigrant housing crisis. These energy
efficient units can be quickly assembled in the required location
without the need for power grid connection, thereby reducing costs
and more importantly time. We are in discussions with other
government entities that are all dealing with this significant
global housing crisis."
Christian Sandkvist, CEO of Property Inventor, added, "Using
EHT's technologies enables us to provide high quality
accommodations in an extremely short timeframe and at competitive
cost to serve the market needs. In the Stockholm area alone, the Swedish Government
needs more than 100,000 units quickly to deal with the housing
demand driven by refugee arrivals in the last year. Using EHT's
modular systems allows us to provide single room accommodation
quickly, which can get re-configured into multi room apartments for
long term use easily."
The modular hotel units are constructed using the technology and
products of EVIA, a global manufacturer and installer of
proprietary modular housing units, container units and
truck/trailer units.
About EnerDynamic Hybrid Technologies
EHT delivers proprietary, turn-key energy solutions which are
intelligent, bankable and sustainable. Our 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.
Through our 90,000 square foot facility in Ontario, Canada and our growing international
foot-print we are able to manufacture, distribute and install world
leading energy solutions across the globe. EHT excels where no
electrical grid exists in addition to traditional support to
established electrical networks which is the new era in the
renewable industry.
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
forwardlooking 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. Forward-looking statements may
involve, but are not limited to, comments with respect to the
fulfillment of orders placed pursuant to the Supply Agreement,
revenues generated under the terms of the Supply Agreement, future
orders to be placed under the Supply Agreement, and EHT's strategic
direction with respect to discussions with other governmental
entities. 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.
SOURCE Enerdynamic Hybrid Technologies Corp.