EnerDynamic Secures New EU-Based Solar Manufacturer
EnerDynamic Hybrid Technologies (TSXV: EHT) is evidently focused on strengthening its supply chain. The firm this morning announced a strategic partnership with Energyra Europe B.V., which will see the European-based firm become a strategic supplier to the company in the region.
The arrangement will see Energyra become the manufacturer and distributor on a preferred basis for EnerDynamic’s solar panels and utility sheds. The arrangement is said to apply to Europe and Rest of World, with a focus on the renewable energy and telecom sectors.
The partnership is expected to result in enhanced scale and distribution for the firms products, as a result of incentives provided for goods produced within the EU. The company is currently forecasting that the arrangement will exceed $144 million over a period of five years.
A co-development arrangement also exists under the agreement, which will see the two companies work to develop a solar panel that is lightweight and features back-contact durability. Development is also expected to extend to other areas of renewable energy.
Energyra is based in Amsterdam, where it operates a 100 MW solar manufacturing facility, where it focuses on developing advanced solar panels that feature the latest design tech.
“The partnership will not only provide new sales and distribution channels for our Enertec product line but also provide the opportunity to co-develop enhanced solar PV modules with our technologies which is integral to our global expansion strategy,” commented John Gamble, EHT’s CEO on the announcement.
EnerDynamic Hybrid Tech last traded at $0.19 on the TSX Venture.
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