NIAGARA FALLS, ON / ACCESSWIRE / July 29, 2020 / EnerDynamic Hybrid Technologies Corp. (TSXV:EHT) ("EHT") today announced it has entered into a preliminary project finance agreement with Brevet Capital ("Brevet"), a leading global credit investment and specialty finance firm with a focus on the government sector.
Under the terms of the preliminary agreement, Brevet will become EHT's exclusive capital provider to finance EHT's previously announced Puerto Rico Project that is funded by United States Government agencies Federal Emergency Management Agency (FEMA) and Department of Housing and Urban Development (HUD). The contemplated US$100 million project financing facility and an initial US$10 million drawdown will enable EHT to fulfill all the Housing Material orders that are currently being negotiated, which amount to 16,000 at present with an average price of US$130,000 per house, and pursue new orders.
Since its founding over 20 years ago, Brevet has advised and structured more than US$20 billion of financing/investment transactions. The firm's experienced management team has a successful track record of creating exclusive and often proprietary financing solutions for its partners that are sustainable through multiple economic cycles.
John Gamble, EHT's Chief Executive Officer, commented: "We are very pleased that Brevet has agreed to become our financing partner on this important project. This agreement now will get our Puerto Rico project moving immediately, we will have products ready for sale within 90 days and see revenue in this year, major step forward."
Perry Zou, a Brevet investment professional, added: "We are proud to continue our partnership with EHT, whose property solutions have the potential to transform energy efficiency, and provide the company with the financing it needs to meet market demand and grow the business."
On July 9, 2020, EHT announced Brevet as its exclusive capital provider to finance all EHT Grow Units that Canadian federal and provincial governments as well as other provincial agencies and institutions look to purchase from EHT.
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.
The EHT advanced ENERTEC Modular Wall and Roof System uses a proprietary skin and foam core that is stronger and more energy efficient than traditional wood or steel structures providing the highest ratings for energy efficiency. EHT works with its partners worldwide to erect the buildings on-site utilizing EHT staff and local crews. After installation, each structure can be furnished and finished to meet the customer's requirements including siding, tile, kitchens and bathrooms or segregated commercial rooms. The finished wall product can be shipped on pallets and delivered via rail, truck or water in standard formats.
At the core of the ENERTEC product line is the ENERTEC Embedded Solar Roof Module. Solar cells can be embedded in a proprietary fireproof skin resulting in substantial cost savings by eliminating heavy glass panels and aluminum racking required for traditional solar panels. Two barriers to greater adoption of solar energy are weight limitations of the roof on which solar panels could be deployed and onerous shipping and labour costs. A lighter product at a better price point will open a larger market for solar due to the faster return of capital investment especially for rural and remote users looking to go off-grid. Furthermore, the entire EHT embedded solar roof becomes a massive solar panel capable of producing significantly more energy than the home requires, allowing the structure to then become an important source of power for the local micro grid or large battery storage systems.
About Brevet Capital
Headquartered in New York, Brevet Capital is a leading global credit and specialty finance firm. Focusing on opportunities related to the government sector, Brevet originates and structures customized financing solutions that facilitate borrower growth initiatives. Since inception, Brevet has advised and structured over $20 billion of transactions. Brevet has a 20-year track record of partnering with U.S. state, federal, and international government agencies to provide unique financing solutions.
This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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.