why didn't Preiss release this? Welland, Ontario and Puerto Rico, Puerto Rico--(Newsfile Corp. - September 11, 2018) - EnerDynamic Hybrid Technologies Corp. (TSXV: EHT) ("EHT") its joint venture partner, CAT5 Solar and Microgrids ("CAT5"), and Danosa Caribbean Inc. ("DCI") are pleased to announce they have now formalized their joint venture agreement to distribute the EHT panels and OutBack equipment in Puerto Rico and the US Virgin Islands. They will sell into both the retail and the commercial markets, which are ideal for the EHT panels that will be mounted flat on the rooftops so future hurricanes will not blow them away as no racking is required for the EHT panels. Furthermore, the panels will not break if storm debris hits the panels, so the users of the panels will be assured of power even after future storms have passed.
The JV has formally committed to achieve minimum sales targets in the JV agreement, which if not met will see the JV lose their contractual exclusivity clause. If their targets are met, then, after the first year, EHT has agreed to extend the JV license for a further 5 years. This will ensure EHT of a continuous flow of sales revenue as its business moves forward.
John Gamble, CEO of EHT, commented "The addition of DCI to the Cat5 and EHT Puerto Rican JV team has bolstered their collective financial and market strength needed in the Puerto Rico market. With the JV agreeing to the minimum order requirements, this demonstrates its commitment to, and support for, EHT's solar products".
DCI has been in business for 40 years, utilizing a sales force dedicated to the sale of commercial roofing products throughout the Caribbean. DCI will add the EHT ENERTEC products to its sales efforts. EHT's relationship with Elevate Finance will now become integral to CAT5 as Elevate will be able to offer financing to the commercial rooftop solar and roofing purchasers.
About Danosa
Established in 1978, DANOSA® CARIBBEAN, Inc. is a world-class manufacturer of SBS and APP roll waterproofing membranes and distributor of other roofing solutions such as green roofs, cool roofs, and solar roof systems. For the last 40 years DCI have been delivering the highest quality solutions for Architects, Roofers and Contractors, Building Owners and Developers for their roofing and waterproofing needs. DCI also serve Distributors and Manufacturers interested in the products that DCI manufacture.
DCI award-winning products can be used as top finishes, under tiles, shingles, metal roofs, and solar panels in diverse applications: roofing, below grade, and beyond. DCI are proud recipients of UL, FM, Energy Star, Miami Dade County approvals. Danosa Caribbean is a certified minority and women-owned business.