EnerDynamic $EHT Receives Initial Ivory Coast Housing Order

EnerDynamic(TSX.V: EHT)

EnerDynamic Hybrid Technologies Corp. is pleased to announce that it has received the first order from The Foundation General Akissi on behalf of the Ivory Coast government to build 4,000 houses, which represent the first tranche of Phase 1 of the agreement.

On October 21, 2016, the Company announced that it would build and ship two advanced ENERTEC housing units to Ivory Coast, West Africa to serve as demonstration units in an effort to secure contracts with the government of Ivory Coast for up to 50,000 ENERTEC homes. On January 30, 2017, the Company announced that it had completed the previously announced installation of the two advanced ENERTEC homes in Ivory Coast. In July 2017, the Government of Ivory Coast requested additional local certifications of the ENERTEC modular buildings. On September 28, 2017 the Company announced it had received positive results following the additional testing.

The first 4,000 houses are 2 and 3-bedroom models that will cost the customer approximately US $30,000-$35,000 each. All the houses will be fully financed and will require the requisite down payment prior to commencing production as is consistent with Company policy. EHT is expecting to realise a margin of approximately 15% on these units. EHT will build these units with its affiliate partner Maple Leaf Holdings SA. in which EHT is a shareholder.

The first tranche of 4,000 houses, which is part of the 10,000 houses previously announced, will be built over the next 3 years commencing in the spring of 2018. The Company’s production process is intended to commence building 50 houses per month for the first 3 months, increasing to 100 for the next 3 months and finally 200 houses per month thereafter until the first tranche is completed. Once complete, the Company will build the balance of 6,000 houses to complete the Phase 1. Ultimately the Foundation General Akissi has a mandate to build 50,000 houses for the military families and therefore, EHT and MLH will expand production to satisfy the total requirement over the coming years.

“We now have the first housing contracts in the vast West African market. This is a great step forward for EHT. Management has worked diligently towards finalizing this contract over the last months, completing all the testing and certification requirements to build in Ivory Coast. I am certainly very pleased that we can now move forward across the region.”

-Mr. John Gamble, CEO of EnerDynamic Hybrid Technologies Corp.