- Six Month Revenue of CAD 26.6M with EBITDA of CAD 7.6M
- Year End shift to December 31 for Consolidation
TORONTO, Sept. 2, 2015 /CNW/ - Enerdynamic Hybrid Technologies Corp. (TSX-V: EHT) ("EHT" or the "Company"), is pleased to provide information for first half year 2015 revenue and EBITDA as well as further detail around its recently announced EVIA SARL acquisition and crystalize its focus for stakeholders.
The Company has fully integrated the product line of EVIA to combine EVIA's proprietary modular structural materials technology with EHT's alternative energy solutions. The integration of EVIA's project and product portfolio is exceeding the Company's orginal expectations already in the first half year of 2015, allowing it to control the future and direction of the total technology portfolio. Prior expectations were to support the sales efforts as required and supply systems requested by IQ rather than pushing the most productive and cost effective systems downstream.
Mr. John Gamble, CEO of EHT, commented that "Our prefab structures deliver a 70% reduction in the power consumption required to heat or cool a building. This power saving allows our wind, solar and battery power products to generate all the power required. We believe that the combination of these technologies is a major breakthrough in the global movement to reduce the consumption of fossil fuels, while at the same time providing truly global off grid housing solution."
The Company supports a growing customer base throughout the globe. Highlighted projects including those progressing towards generating significant revenue and profit contribution include the RFNLP 38 Megawatt School Board Project previously announced, the assembly of solar powered energy efficient housing units to the US Government, housing developments in India and Africa, the recently announced delivery of solar powered school buildings to Burkina Faso as well as providing transport trailers and shipping containers utilizing the Company's proprietary walling material in the fabrication of refrigeration units. Including smaller market niches and toll manufacturing for OEM's, revenue for the first half year ended June 30, 2015 (unaudited) was a combined CAD $26.6 million with EBITDA of approximately CAD $7.6 million.
The Company's management will continue to grow EHT and EVIA products by utilizing the synergies between the technologies of EVIA's energy efficient modular systems in combination with EHT's alternative energy solutions. The combination of both technology will continue to support sales. In its August 12th news release the Company indicated its participation at NOCMAT conference and identified the initial target markets in Canada as resource development companies, government and military sectors, NGO research and monitoring and residential emergency housing market. EVIA has recently been engaged by FEMA to develop a prototype for disaster relief containers and housing which can be powered with no connection to the electricity grid with the full integration of the EHT wind, solar and battery solutions.
In November 2014 the Company provided guidance of $40 Million in revenue for the fiscal year 2015 (year-end November 30, 2015). Management believes this guidance remains applicable however, EHT intends to change its year end from November 30th to December 31st to align with EVIA periods and to better reflect the business cycles of the company. This will have a modest impact on the guidance reporting but it is expected to be nominal.
The information in this news release, including relating to anticipated future revenues and growth of the Company and its various projects includes certain information and statements that constitute forward-looking information. These forward-looking statements are based upon certain assumptions, including regarding EHT's ability to successfully obtain further purchase orders and deliver the appropriate product. Such assumptions are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may vary materially from those anticipated and indicated by these forward-looking statements. Although EHT believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, EHT disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
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.
About EnerDynamic Hybrid Technologies
EHT delivers proprietary, turn-key energy solutions which are intelligent, bankable and sustainable. Most 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. EHT excels where no electrical grid exists in addition to traditional support to established electrical networks. Through its acquisition of the EVIA Group, the organization now develops and supplies reinforced plastics solutions.
Evia's core expertise lies in the development of innovative composite material systems, which are processed through the use of its proprietary production technology into attractive applications, primarily modular homes producing up to 70% reductions in energy use, for customers in a wide range of industries. The school buildings delivered to Burkina Faso are constructed using the recently acquired technology and products of EVIA, a global manufacturer and installer of proprietary modular housing units, container units and truck/trailer units. These school units are optimized for the rough climate demands in the Sub-Saharan region and by combining the composite panel technology of Evia with EHT's unique solar systems and battery technology, the schools will be running entirely off grid.
SOURCE Enerdynamic Hybrid Technologies Inc.
For further information: Mr. John Gamble, CEO/Director, 289-488-1699, [email protected], Company Website: www.ehthybrid.com