EHT Provides $40 Million in Revenue Guidance for 2015 Fiscal Year and Targets Profitability in Q3 2015
Nov 17, 2014, 06:00 ET
TORONTO, Nov. 17, 2014 /CNW/ - Enerdynamic Hybrid Technologies Corp. (formerly MCM Capital One Inc.) (TSX-V: EHT) ("EHT" or the "Company") is providing $40 Million in revenue guidance for fiscal year 2015 (year-end November 30, 2015). This represents approximately 400% revenue growth over fiscal year 2014. The Company is providing revenue guidance based on increased visibility into a growing order book for EHT's product line which includes (i) Micro-Utility Units designed for distributed small scale power generation (the "ENER" product line), (ii) Power Generation (own and operate commercial scale projects with long term contracts and recurring revenue) and (iii) Procurement Supply (equipment and installation services to third party projects).
Mr. John Gamble, CEO says, "We are experiencing strong demand for our products and solutions, which is enabling us to forecast revenue for the next four quarters. Based on the current sales volume, and assuming successful execution, we anticipate achieving profitability in Q3 of 2015," and added, "as our ramp up and roll out of our African opportunities continue to materialize at the current level we will see the sales numbers increase beyond this guidance and will update the market in the first quarter of 2015".
EHT recently announced the signing of a MOU to supply and install EHT's proprietary Micro-Utility units that will provide power to 125,000 private residences in the Republic of Senegal in West Africa. (press release November 7, 2014) In addition, the Company announced an agreement with Reliant First Nation Limited Partnership to acquire up to 46 Megawatts of solar energy Power Generation contracts from Reliant. (press release November 3, 2014) These projects and others are included in the sales pipeline for 2015. EHT is also participating in on-going negotiations for new contracts which will be announced once final terms have been agreed.
Forward-Looking Information
The information in this news release, including the revenue guidance disclosed herein, includes certain information and statements that constitute forward-looking information that has been prepared to crystallize information currently in the marketplace and may not be appropriate for any other purposes. The forward-looking information and revenue guidance are based upon assumptions, principally EHT's ability to successfully complete the installation of solar systems currently under contract or negotiation and represent the amount anticipated to be completed during the period to which the forward-looking information applies, 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, including but not limited to, force majeure in foreign markets, access to adequate working capital, and stability of workforce, 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 provide 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. 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 leading world class 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.
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
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