NR: EHT - SYSILS Corp. Announce Strategic Partnership NIAGARA FALLS, ON and SAUDI ARABIA / ACCESSWIRE / January 20, 2020 / EnerDynamic Hybrid Technologies Corp. (TSXV:EHT) ("EHT") is pleased to announce it has signed a strategic partnership agreement with SYSILS Corp. ("SC"), a leading Oil and Gas service company based in Saudi Arabia and Bahrain.
Through this strategic partnership, EHT and SC has together renewable energy solutions that has been designed for the Oil & Gas industry. Oil & Gas companies across Saudi Arabia and Bahrain can now take advantage of high quality unique hybrid solar and battery systems to address the need for rapid deployment and mobilization for the rig sites. EHT will make containers with their ENERTEC fiber-glass skin wrapped with ENERTEC back-contact solar and SC will install their battery and power expertise in Saudi and Bahrain to complete the units.
Saudi Arabia, Opec's biggest oil exporter, is radically transforming its economy under Vision 2030. Saudi Arabia has been moving away from burning crude oil to generate power, first switching to gas-fired plants and, subsequently, moving towards wind and solar energy solutions as it seeks to free up its crude for the export market. Developing a thriving renewable energy industry is a central plank of the Saudi Vision 2030 economic and social blueprint with an initial target of generating 9.5 gigawatts of renewable energy.
Muhammad Assad, GM of SC, commented: "We are very proud and excited to be working side by side with a successful and growing company like EHT, as we work together towards providing renewable energy solutions in Saudi Arabia in line with the Kingdom Vision 2030. Muhammad Assad went on to say, "We are really confident that our expertise in the industrial field will assure a quick and seamless start of commercialization of EHT innovative renewable technology and products across Saudi Arabia and Bahrain."
John Gamble, CEO of EHT, commented: "We are very pleased to partner with SC; the combined company will be able to immediately utilize our new ENERTEC back contact solar panels to power units required by many of the leading Saudi Oil Companies like Saudi Aramco."
EHT and SC will have the first units operational in the next couple of months; SC's partnership agreement calls for a minimum sale of US $250,000 in the first twelve months of the Agreement for SC to continue as an exclusive distributor in these countries.
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