EnerDynamic Hybrid Technologies Corp. (formerly MCM Capital One Inc.) (“EHT” or the “Company”) (TSX-V: EHT) is pleased to announce that it is currently in negotiations to acquire a number of solar energy projects that are backed by long-term power purchase agreements. In total the projects are more than 50 Megawatts (50,000 Kilowatts) in size and, once fully operational, would collectively generate in excess of $16 Million CDN in annual recurring revenue. The long-term power purchase agreements are under the Ontario Feed-in-Tariff (“FIT”) program and/or similar contracts under similar programs outside of Ontario, permitting the holder of any such contract to construct a solar project (each a “Project”) to sell the power generated from such Project to the applicable Government agency.
In total the Projects would provide in excess of 50 million hours of electricity per annum, equivalent to supplying up to 3,000 homes with electricity. Further the Projects would offset more than 13,000 tonnes of C02 annually supporting the green credentials of the projects.
Any Project acquisition would be subject to the Company being able to raise the necessary funds in the capital markets through private placements of its securities or otherwise. Further press releases would follow upon definitive, binding agreements being entered into in respect of the acquisition of any Project or Projects.
About EnerDynamic Hybrid Technologies
EHT delivers proprietary, turnkey energy solutions, which are intelligent, bankable and sustainable. Our energy products and solutions can be implemented immediately wherever they are needed. EHT stands above its competitors by combining a full suite of solar PV, wind and battery storage solutions, which can deliver energy 24 hours per day in both small-scale and large-scale format. Through our 90,000 square foot facility in Ontario, Canada and our growing international footprint we are able to manufacture, distribute and install world leading energy solutions across the globe. EHT excels where no electrical grid exists in addition to traditional support to established electrical networks, which is the new era in the renewable industry.
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. These statements address future events and conditions and so involve inherent risks and uncertainties. Actual results could differ from those currently projected. The Corporation does not assume the obligation to update any forward‐looking statement.
SOURCE Enerdynamic Hybrid Technologies Corp.