EHT Generates $9M in Revenue and Becomes Tier 1 OEM Partner
12 Sep, 2014, 09:49 ET
TORONTO, Sept. 12, 2014 /CNW/ - EnerDynamic Hybrid Technologies Corp. (formerly MCM Capital One Inc.) ("EHT" or the "Company") (TSX-V: EHT) is pleased to announce that in the first eight months ending May 31, 2014, EHT generated $9 million in revenue and reported $867,612 in gross margin. Operations generated $304,796 before one-time charges ($838,505), amortization ($281,010) and product development ($332,009). EHT's eight month audited financial statements are available on www.sedar.com.
"Rapid revenue growth at such an early stage in the history of our Company is an important differentiator for EHT," commented John Gamble, CEO of EHT. "It speaks to our unique approach and position in the market and our ability to offer customers a turn-key solution for their renewable energy needs. We offer a full suite of scalable solar PV, wind and battery storage solutions, which can deliver energy 24 hours per day. It's a compelling product offering and our order book is growing."
EHT has now installed over 2 MegaWatts of commercial scale solar PV projects for third parties in Ontario. EHT has EnerCube test installations located in North America and Europe, and has received initial purchase orders for 20 EnerCube's from Africa, establishing itself as a truly global renewable energy solutions provider. EHT's products adapt to global electrical standards enabling the Company to actively pursue markets worldwide.
During the past eight months, the Company has also qualified as a Tier 1 OEM manufacturer for JinkoSolar. EHT manufacturers JinkoSolar PV panels at its production facility in Welland Ontario, Canada and has received ETL certification for the manufacturing of JinkoSolar panels, in addition to its established UL certification of the manufacturing facility. JinkoSolar is a global leader in the solar PV industry with production operations in Jiangxi and Zhejiang Provinces in China and global sales and marketing offices.
"Jinko is a Tier 1 bankable global solar PV manufacturing firm," Gamble continued. "Their decision to work with EHT speaks to the quality of our manufacturing processes and facility in Welland. I am proud of the team we have assembled. We have a facility and the human resources to accommodate today's volumes and significant future growth."
At this time the company is not providing any forward guidance but continues to execute on its business plan for continued growth.
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 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]; Company Website : www.ehthybrid.com
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