RE:RE:NEWS green light on Burkino Faso
EnerDynamic Hybrid Technologies and Maple Leaf Holdings AnnounceBurkina Faso Housing Order Gets Green Light 10/10/2018 8:28:00 PD Niagara Falls,Ontario--(Newsfile Corp.-October 10, 2018)-EnerDynamic Hybrid Technologies Corp.(TSXV: EHT) ("EHT") together with its African partnerMaple LeafHoldings SA, have reached the final stage necessary to proceed withthe previously announced (seeJuly 19, 2018news release) orderfrom the Government ofBurkina Faso Housing Authoritytoimmediately start the construction of EHT ENERTEC housing to helpsatisfy the need to build up to 40,000 homes. EHT management has confirmed, by a site visit this week, thatthe site services for the project are ready thus allowing EHT tocommence fabrication this fall following materials delivery and setup. EHT will send one ENERTEC house, based on the approved design,to be used as the model home. Shipment from EHT is expected on orabout the first week of November with arrival inBurkina Fasoinearly January. That ENERTEC model home will be used to takedeposits from purchasers and will eventually be sold, offsettingEHT's costs associated with its creation. All the homes are to besold to the end buyer that have been pre-screened by the governmentand financial institutions. This screening process has beencompleted for the first 200 homeowners and deposits have been made.EHT will receive this deposit on each home before EHT will startthe build and final payment will be on completion. The homes willsell, depending on the final design and amount of solar capacityselected, for$25,000to$35,000 USD. The contract granted toMapleLeaf Holdings SA("Maple Leaf"), will be subcontracted to EHT who isalso a shareholder in Maple Leaf. EHT was selected by the Ministry after testing of other buildingsystems that failed to match EHT's superior ENERTEC product forbuild time and solar roof integration. Over the last 2 years, theexisting construction companies have managed to complete just 500homes of the 40,000 promised by the Government. EHT managementbegan detailed discussions with the appropriate governmentdepartments last November and, after the process of design approvaland inspections of the ENERTEC sample homes inIvory Coast,approval has been granted to move forward. EHT will target arolling increase in production and installation towards a targetedrate of 1,200 homes per annum by late 2019. EHT has also been askedto provide 1 Kw of Solar with 1.5 Kw Inverters and Battery to thepreviously built houses using the EHT ENERTEC Solar panels since nopower has been brought to the site. Mr.John Gamble, EHT's CEO, commented that, "Management hasworked very hard to bring this contract to this final stage. Anestablished, critical factor in any of these large, governmentcontracts has proven to be the delays in getting sites serviced andconcrete pads poured, both of which are necessary first steps priorto construction. Having sites already serviced and ready to goovercomes the long delays we have experienced in other markets. Weare a couple of months behind in shipping the model home due todelays in water and sewer service installation. The Government hascontinued to take the deposits on the houses during this period andI am very pleased to say this project has all green lights."