EHT is Awarded $500,000 Senegal Contract to build Micro-Utility Energy Systems
TORONTO, May 6, 2015 /CNW/ - Enerdynamic Hybrid Technologies Corp. (TSX-V: EHT) ("EHT" or the "Company") is pleased to announce that it has been awarded a Contract to build 87 Micro-Utility systems (the "systems") in Senegal, Africa. The Contract is awarded by IQ TPI Engineering – SA ("IQ"). Under the terms of the Contract the systems will be deployed on the rooftops of existing housing units which require an independent power source.
"We are pleased to be awarded a firm contract to deploy our Micro-Utility systems," says John Gamble, CEO. "We are gaining momentum in the acquisition of firm contracts in Africa and expect to continue to build on the success of this contract award. While our growth has been slower than anticipated in the region, due to the need to create a skilled localized labor solution, we have greater transparency for future opportunities."
Roman Eder, President of IQ states, "EHT provides a superior Micro-Utility solution that we can deploy across our housing projects in Africa and regions where off-grid energy solutions are most needed. We look forward to growing our business relationship with EHT across Africa and North America."
Under the terms of the Contract EHT will supply up to 2 Kilowatts of power for each installation including battery storage. The end-user will gain energy independence and be able to access energy 24 hours per day without the requirement to be connected to the local electricity grid. EHT will be paid on commercial terms with 50% payable on delivery of equipment to Senegal and 50% on the completion of construction. Construction is anticipated to commence in 60 days and be completed in early Q4, 2015.
Forward-Looking Information
The information in this news release, including the Company's anticipated use of proceeds, proposed solar energy installation construction, anticipated revenues and its intention to close the full Offering, includes certain information and statements that constitute forward-looking information. These forward-looking statements are based upon assumptions, principally EHT's ability to successfully complete the acquisition of the above-described feed-in-tariff contracts and commence construction of solar energy installations, the anticipated revenues to be generated by the Power Purchase Agreements and 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. EHT's 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.
SOURCE Enerdynamic Hybrid Technologies Corp.
Corporate Communications, [email protected], Company Website: www.ehthybrid.com
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