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.
About EnerDynamic Hybrid Technologies
EHT delivers proprietary, turn-key energy solutions which are intelligent, bankable and sustainable. EHT's expertise includes the development of its ENERTEC module structures with full integration of smart energy solutions. Using a proprietary skin and foam core that is stronger than traditional wood or steel structural insulated panels, EHT provides exceptional thermal energy efficiency in modular homes, cold storage facilities, residential/commercial out buildings and emergency/temporary shelters. EHT works with its partners worldwide to erect the buildings on-site utilizing EHT staff and local crews. In addition to traditional support to established electrical networks, ENERTEC buildings excel where no electrical grid exists.
About Sysils Corp
SC is a forward-looking company with and international scope. It was established to accommodate the diversification of technological and engineering services, supply material and products for the oil and gas, petrochemical and process industries. As a full-service engineering, consulting, construction, and operations SC has the human and technical resources with international footprint, and the depth of know-how and experience to help you achieve your goals successfully. Each of our clients demands and deserves a completely satisfying solution on every project, regardless of complexity. SC differentiates itself on how we define "satisfying": our commitment to outperform on you your behalf. Whatever your current or future needs, our full-service, worldwide resources are available to support you on your next critical project.
SC's website is currently being updated and is expected to be back up by the end of January. In the meantime, we are attaching a company profile. Please click here.
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 forward‐looking statements. Forward-looking information relating to sales of the products (the "Opportunities") involves risk, uncertainties and other factors that could cause actual events, results, performance, prospects, for the Opportunities to differ materially from those expressed or implied by such forward-looking information. Although EHT believes that the assumptions used in preparing the forward-looking information on the Opportunities outlined 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 a result of new information, future events or otherwise, other than as required by applicable securities laws.
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SOURCE: EnerDynamic Hybrid Technologies Corp.