EnerDynamic Enters New Manufacturing Joint Venture
EnerDynamic Hybrid Technologies (TSXV: EHT) has found a new market for its solar operations. The company this morning announced that it has entered into a new joint venture agreement with Cinergex Solutions for the manufacturing of sustainable water solutions.
The arrangement will see EnerDynamic manufacture and assemble what is referred to as water-to-water and air-to-water technologies, to assist in providing clean drinking water solutions. The stand-alone water generators will also see the addition of the firms solar tech, to enable the generators to use clean renewable energy in the production of water.
The company will be working with Cinergex to manufacture two separate atmospheric water generators, which work by extracting water from humidity in the air. The two systems are referred to as being small and mid scale, with the small generator producing up to 30 litres of water per day, while the midsized unit produces up to 800 litres of water a day.
The small scale units, referred to as the GENNY, currently has client orders to assemble over 10,000 units, all of which are to be retrofitted with EnerDynamic’s solar panels, and currently retail for US$2,500. The mid-sized units, GEN-M, retail for US$150,000 with the firm reportedly hosting over 50 outstanding orders for the tech, which are also to be solar retrofitted.
“This JV shows how our patented solar technology can change a product from burning 100% fossil fuels into 100% clean renewable mobile power. EHT is very pleased to be partnered with CSL to help the planet’s water crisis and provide new and innovative solutions to our global clients.”
John Gamble, CEO of EHT
Under the equal joint venture partnership, EnerDynamic is to assist in assembling the units and fulfill outstanding orders for the generators. Profits will reportedly be split on an equal basis, with further details not being provided.
EnerDynamic Hybrid Tech last traded at $0.53 on the TSX Venture.
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