Puerto rico government

EHT Secures $ 2 Million Credit Facility to Fund New Housing Orders in Puerto Rico

NIAGARA FALLS, ON / ACCESSWIRE / September 23, 2021 / EnerDynamic Hybrid Technologies Corp. (TSXV: EHT) (“EHT” or the “Company”), a global leader in solar and wind renewable energy technologies, is pleased to announce that it has secured a $ 2 million credit facility. dollars (the “Credit Facility”) from a private institution loan to finance the initial construction of the Company’s housing orders in Puerto Rico. As announced on September 20, EHT’s Residential Reconstruction Project in Puerto Rico JV has received orders for 141 additional housing units through three Puerto Rico-based housing developments in Arroyo, Carolina and Vega Baja, construction of which will begin immediately. .

“This credit facility will provide us with substantial capacity to meet our construction schedule and associated installation costs for the initial homes.” said John Gamble, CEO of EHT. “It is imperative that we act quickly to fill additional orders and move the displaced citizens of Puerto Rico to their new homes. The 141 new orders represent $ 21 million in revenue for the company and position EHT for additional orders as government funding is released. We are working hard to position EHT for significant revenue growth as these homes begin construction and will provide our shareholders with regular updates as we move forward. “

The full amount of the Credit Facility may be drawn at any time by the Company. The credit facility has a term of 12 months, with prepayment options in the event of a drawdown, and bears interest at a rate of 12% per annum, with interest and principal being due at maturity. The outstanding amount of the Credit Facility as well as accrued and unpaid interest may be reimbursed by the Company at any time.

The 141 additional orders announced this week bring current housing orders to 341, with the JV immediately starting construction. EHT’s net zero homes are built twice as fast as a standard home using unskilled local labor for 90% of the construction, capable of withstanding winds over 200mph and powered by EHT’s “glassless” solar panels that continue to operate if struck by flying storm debris.

Advantages of the EHT Net-Zero house

  • Builds quickly – Cat5 “Lego” type designs allow homes to be locally manufactured and built using 90% unskilled labor in less than 60 days without slab.

  • ‘Lego’ block design – Wall systems do not require plasterboard, fiberglass or wood, but the insulation is built into the blocks, which means there is no risk of mold if the house is flooded.

  • Seismic engineering – Reinforced concrete design is flood resistant and can withstand winds over 200mph, making these homes the most durable solution to protect against future disasters. Closed cell foam holds the walls together in the event of a seismic event.

  • Solar energy – EHT’s proprietary solar technology is integrated as a multi-layered composite structure in panels up to 20 feet long with the cordage built inside the panel, generating more energy per square meter, resistant to breakage and powered off grid.

  • Very profitable – Average income of $ 150K per home and a strong 15% net margin for EHT.

The company plans to complete the first 35 homes by the first quarter of next year and increase its capacity to build more than 50 homes per month from March 2022.

About EnerDynamic Hybrid Technologies

EHT (TSXV: EHT) provides exclusive turnkey energy solutions that are smart, bankable and sustainable. Most energy products and solutions can be implemented immediately where they are needed. EHT sets itself apart from its competitors by combining a full line of solar photovoltaic, wind and battery storage solutions, which can provide energy around the clock, both on a small and large scale. In addition to traditional support to established power grids, EHT excels where there is no power grid. The organization provides advanced solutions for various industries in combination with energy saving and power generation solutions. EHT’s expertise includes the development of module structures with full integration of smart energy solutions. These are transformed through EHT’s production technologies into attractive applications: modular homes, cold storage facilities, schools, residential and commercial outbuildings and emergency / temporary shelters. Windular Research and Technologies Inc. (WRT) provides cutting-edge wind technology to the global telecommunications market whereby the WRT system can be implemented directly on any existing or new tower configuration. WRT provides a source of renewable energy in remote and rural areas where the primary source of energy is diesel. WRT’s innovative system offers customers a lower overall cost of ownership as well as a reduced carbon footprint.

For more information please contact:

John gamble
Chief Executive Officer
EnerDynamic Hybrid Technologies
Phone. : 289-488-1699
Email: [email protected]

Neither the 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.

Statements contained in this document that are not historical facts are forward-looking statements. Forward-looking information relating to the sales of products (the “Opportunities”) involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects, for the Opportunities to differ materially from those expressed. or implied by this forward-looking information. information search. Although EHT believes that the assumptions used in preparing forward-looking information about the opportunities described in this press release are reasonable, one should not place undue reliance on such information, which only applies as of the date of this press release. press release, and no assurance can be given that such events will occur within the disclosed time frame or not 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.

THE SOURCE: EnerDynamic Hybrid Technologies Corp.

See the source version on

Source link

Jacob C.

The author Jacob C.

Leave a Response