TORONTO, Jan. 6, 2016 /CNW/ - EnerDynamic Hybrid Technologies Corp. ("EHT" or the "Company") (TSX-V: EHT) via its wholly owned subsidiary, EnerDynamic Hybrid Technologies Inc. ("EHTI") has entered into an agreement (the "Supply Agreement") with Property Inventor AB, Sweden ("Property Inventor"), whereby EHTI has agreed to supply modular hotel units for the safe housing of refugees in Sweden. The Supply Agreement represents an opportunity for EHTI to supply products in one of its target markets, and the supply of modular housing units, which is supported by a program of the Swedish government, will be used to house refugees and immigrants.
Property Inventor has an established track record having installed 200 modular hotel rooms in the Stockholm area in 2015 and has now approved and ordered EHTI's modular system for new orders. A "modular hotel unit" is a specialty product within the modular home segment which offers compact housing, on a multi-level platform, in order to meet the specific needs of short term stay use. These units are rapidly deployed and relocated as required to assist in the flow of migrants and refugees across Sweden and the globe.
The Supply Agreement requires the delivery of 1,000 new modular hotel units by EHTI to Property Inventor over the next 12 months, representing revenue of approximately €21,500 or $32,000CAD per unit, amounting to an aggregate contract revenue of €21,150,000 or $32,000,000CAD. The Supply Agreement further requires a 90% payment at shipment of the modules and 10% upon installation.
Roman Eder, CEO of EHT said, "Our modular construction technology has proven to be an ideal solution for the current refugee / immigrant housing crisis. These energy efficient units can be quickly assembled in the required location without the need for power grid connection, thereby reducing costs and more importantly time. We are in discussions with other government entities that are all dealing with this significant global housing crisis."
Christian Sandkvist, CEO of Property Inventor, added, "Using EHT's technologies enables us to provide high quality accommodations in an extremely short timeframe and at competitive cost to serve the market needs. In the Stockholm area alone, the Swedish Government needs more than 100,000 units quickly to deal with the housing demand driven by refugee arrivals in the last year. Using EHT's modular systems allows us to provide single room accommodation quickly, which can get re-configured into multi room apartments for long term use easily."
The modular hotel units are constructed using the technology and products of EVIA, a global manufacturer and installer of proprietary modular housing units, container units and truck/trailer units.
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 forwardlooking statements. Forward-looking information involves risk, uncertainties and other factors that could cause actual events, results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking statements may involve, but are not limited to, comments with respect to the fulfillment of orders placed pursuant to the Supply Agreement, revenues generated under the terms of the Supply Agreement, future orders to be placed under the Supply Agreement, and EHT's strategic direction with respect to discussions with other governmental entities. Although EHT believes that the assumptions used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. EHT disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws.
SOURCE Enerdynamic Hybrid Technologies Corp.
For further information: John Gamble, Director, (289) 488-1699, [email protected], Company Website: www.ehthybrid.com; Stephanie Thompson, Administrative Assistant, (289) 488-1699, [email protected], Company Website: www.ehthybrid.com