TORONTO, Sept. 24, 2014 /CNW/ - EnerDynamic Hybrid Technologies Corp. (formerly MCM Capital One Inc.) ("EHT" or the "Company") (TSX-V: EHT) is pleased to announce that it has completed final connection, to the Ontario electricity grid, of a 500 Kilowatt AC solar PV system for E.S.Fox Ltd. (the "Project") under the Ontario Feed-in Tariff (FIT) program. The Project includes approximately 2,190 Jinko solar panels, Schletter racking and Santerno Inverters. The Project will be owned and operated by E.S.Fox Ltd. and will produce approximately 600,000 Kilowatt hours per annum and earn a rate of 63.5 cents per Kilowatt hour. The majority of the revenue earned by EHT for installing and commissioning this project has been reported in EHT's consolidated audited financial statements for the 8 month period ended May 31, 2014.
"This Project showcases our ability to install and connect large scale commercial solar PV installations." says John Gamble, CEO. "We have worked with E.S.Fox in all phases of project development, planning, installation and final connection into the Ontario electricity grid."
Under the Ontario Feed-in Tariff program, administered by the Ontario Power Authority, the Project is backed by a 20 year Power Purchase Agreement. In total, over the next 20 years, the Project will provide in excess of 10 Million hours of clean electricity for the Province of Ontario.
"We are very pleased to have worked with EHT and its personnel to see this project, installed on the roof of our manufacturing facility, come to completion" said Spencer Fox, President. "We will not hesitate to use EHT in the future or refer their services to other solar projects in need of complete solutions".
EHT's three pronged business strategy is to: offer micro utility energy products, via its "Ener" product line, designed for distributed small scale power generation; own and operate utility scale projects with long term contracts and recurring revenue; and to supply equipment and installation services to third party projects of scale.
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.
About E.S.Fox Ltd
E.S. Fox Ltd. is a multi-faceted organization providing clients with a single source for their construction, fabrication, service and engineering requirements. The company is unique in that it is not only an industry leader in construction and engineering but is one of the country's major sheet metal, pressure vessel, module and pipe fabricators and has a proven capability of documenting and implementing quality standards.
E.S. Fox Ltd. has been a pillar of strength in the Industrial, Construction, Fabrication, Engineering and HVAC industry for over eight decades now. The company was established in 1934 and has always remained one of the Niagara Region's leading companies. E.S. Fox Ltd. is a privately held, third generation, family-owned company. It remains one of the largest industrial and fabrication firms in Central and Eastern Canada.
The 1000+ employees at E.S. Fox Ltd. are actively involved in executing many major industrial, commercial, and institutional projects throughout the country. We continue to meet stringent safety, quality and project controls requirements on an ongoing basis. We are constantly embracing new technologies to ensure the best for E.S. Fox Ltd. and all of our customers.
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. These statements address future events and conditions and so involve inherent risks and uncertainties. Actual results could differ from those currently projected. The Corporation does not assume the obligation to update any forward‐looking statement.
SOURCE: Enerdynamic Hybrid Technologies Corp.
For further information: David Prue, Corporate Communications, 905-401-8303, [email protected]; Wanda Cutler, Media/Investor Relations, 416-303-6460, [email protected]; Rob Fia, Director, 416-867-2353, [email protected]; Company Website: www.ehthybrid.com