EnerDynamic Hybrid Technologies (TSXV: EHT) this morning provided an update on its ongoing work in Peurto Rico. The company is currently operating with joint venture partner Brieke Family Assets to develop and build energy efficient homes capable of withstanding hurricanes.
To date, the joint venture has received a total of 341 orders for homes in the region, as the US territory works towards recovering from hurricane Maria. Each home comes with an average revenue of $150,000, with the homes said to be “virtually indestructible,” while being equipped with EHT’s solar technology.
The first of these orders are expected to be completed in the first quarter of 2022, with 35 homes expected to be completed. The venture then expects to scale its operations in March 2022, to the point where it will be constructing roughly 50 homes per month.
“This has been a long process, but we are encouraged by the increase in government funding to accelerate the 44K homes that must be rebuilt in Puerto Rico. Our dedication to this project is an important element of EHT’s growth plan in 2022 and beyond,” commented John Gamble, CEO, within the update.
The company also indicated this morning that it is in the process of discussions with a major telecom provider in the region for its Windular Smart Tracking wind system.
EnerDynamic Hybrid Technology last traded at $0.30 on the TSX Venture.
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