EnerDynamic Hybrid Technologies Corp. (TSXV: EHT) is engaged within the development on its ENERTEC module housing structures, which seeks to provide next-gen, affordable housing. Shares of the alternative housing company surged 57% during trading on Monday, September 10, 2018. Over the past three months, EnerDynamic Hybrid Technologies Corp. has seen average daily volume of 246,393 shares. However, volume of 7.49 million shares or dollar volume of C$411,950, exchanged hands during Monday’s trading.
Shares of EnerDynamic Hybrid Technologies Corp. soared on Monday, after the company announced that its joint venture with Unified Construction and Investments Limited has secured a contract with the Government of Ghana and the Ministry of Works and Housing. Under the contract, the joint venture will construct 100,000 affordable housing units across Ghana over the next 10 years. The plan is to construct 10,000 housing units per year across the ten regions of Ghana. Here is the full press release detailing of the housing contract:
EnerDynamic Hybrid Technologies Corp. Press Release:
Welland, Ontario–(Newsfile Corp. – September 10, 2018) – EnerDynamic Hybrid Technologies Corp. (TSXV: EHT) (“EHT“), along with its new joint venture partner Unified Construction and Investments Limited (“UCI“), and in conjunction with the Government of Ghana and the Ministry of Works and Housing (Ghana), are pleased to come together to construct 100,000 affordable housing units in the country of Ghana. The final agreement, dated September 7, 2018, will see the units constructed over the next 10 years.
This joint project will see these houses built out in 10,000 house units per year, which will be built across the 10 regions of Ghana. The Ghanaian Ministry of Works and Housing will be responsible for the design of the houses, providing the land and ensuring the sites have access to water, electricity and roads. At this time, there are sufficient sites prepared for the first 10,000 units. This ministry will also assist EHT in providing all import permits, licences and documentation required.
UCI, a Ghanaian company involved in the design, engineering and construction of housing, infrastructure works and financing, will provide the construction of the houses in Ghana with EHT providing the ENERTEC system of housing construction material and solar integrated roof system. EHT will also bring the project to its Ghanaian partner, the GN Groupe, which will be able to provide offtake mortgages to the projected homeowners. EHT will also work with its partners Elevate Finance and EDC to provide the additional capital required to build out the project on a phase by phase basis.
The project is slated for 60,000 2-bedroom units and 40,000 3-bedroom units. The 2-bedroom units will sell for US$33,600 and the 3-bedroom for US$42,000. The EHT/UCI joint venture currently estimates a net margin of 7.5%-12% (approx. US$2,520-US$4,032 per each 2-bedroom unit) and will provide future updates as the project progresses. Initial building for this project is scheduled to commence in the 2nd quarter of 2019.
John Gamble, CEO of EHT, commented, “This project, the largest in the history of the ENERTEC product line, is the culmination of many months of work with all parties. EHT has been chosen for this project not only because of our superior ENERTEC system, but also the team of partners that we bring to the table.”
About EnerDynamic Hybrid Technologies
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.
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.