After a months-long trading halt, EnerDynamic Hybrid Tech (TSXV: EHT) is set to resume trading this morning following its acquisition of Windular Research and Technologies that has now been conditionally approved by the exchange.
With the acquisition of Windular, the company is to transform into a diversified solar and wind renewable power leader in the space that features a strong sales and distribution network. The acquisition significantly grows EHT’s global presence, with Windular having a major engagement with Telenor Group, whom is focused on the Asian and Nordic markets, as well as Bell Canada, focused here on home soil.
Windular currently brings to market what is referred to as a proprietary smart tracking system that enables wind turbines to circumnavigate telecom towers to generate power from the best wind locations. The tech is being implemented with the aforementioned partners as upgrades to cell towers demand higher power requirements, while enabling the towers to remain off grid and remove their dependence on diesel generators.
“More than one million of the world’s existing towers rely solely on diesel fuel for power. Windular has a leading-edge solution in the market providing a cost-effective renewable wind energy that can be adapted to all tower configurations. The opportunity to integrate EHT’s solar technology will provide our current and future clients a full turn-key renewable solution.“Jerry Foster, President of Windular and EHT
In terms of solar business development, the company is also in the process of the Puerto Rico Residential Rebuilding Project, where it currently has 200 orders for its lumber-free solar powered homes. The company is in the process of building the first 35 such homes, with each home to generate $150,000 in revenue at 15% net margins, resulting in near-term revenues of over $5.0 million.
EnerDynamic Hybrid Tech is expected to commence trading this morning.
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