Monday, November 19, 2018

Enerdynamic to deliver agricultural units to hi!farms

2018-11-13 08:28 ET - News Release

Mr. John Gamble reports
On Nov. 11, 2018, Enerdynamic Hybrid Technologies Corp. executed a manufacturing and supply agreement with hi!farms to deliver custom controlled environment agricultural units (CEAU) grow units to hi!farms' new facility in North Bay, Ont.

hi!farms of North Bay, Ont., is negotiating agreements to supply medical grade cannabis to academic, medical and distribution partners for research and sales in Ontario. The CEAUs are designed by hi!farms with patent applications in process. The company was selected to deliver these CEAUs by hi!farms due to the superior Enertec materials and the speed of production and delivery of the units. Under the manufacturing and supply agreement, phase 1 of the project, which consists of 32 flowering units and supporting infrastructure modules, is to be completed before the end of the second quarter of 2019. Phase 2 of the project, which consists of a further 270 flowering units and supporting infrastructure modules, is expected to be completed by the first quarter of 2020. Sales and contract information for the additional 270 units will be released in the early 2019.

The company will build and supply the initial 32 flowering units and supporting infrastructure modules to hi!farms, deferring the $6.34-million sale price while hi!farms establishes the initial crop. Thereafter, the company will receive the full sale price from 100 per cent of the net income of each unit until the original sale price is paid in full. The company anticipates receiving payment in full approximately 12 months following installation and expects a gross margin of 30 per cent. Protected through priority PPSA securitization, the company will also participate in the net profits of the medical cannabis sales from every unit, on a 50/50 basis (following repayment in full of original sale price) with hi!farms, for six years from the date of installation. There is some risk to waiting 12 months for payment, namely that hi!farms is unable to generate as much revenue as it anticipates. However, this is offset by the securitized first call on cash flow which should shift the risk to only the time to be paid rather than if the company will be paid.

John Gamble, chief executive officer of the company, indicated, "We are confident that we can deliver leading-edge grow units to hi!farms and that the risk associated with initial purchase price deferral is more than offset by the long-term recurring revenue benefit."

"The team at hi!farms is excited to be working with EHT to provide the foundation for our advanced end-to-end cultivation system," commented hi!farms' chief technology officer Paolo Pincente. "hi!farms utilizes a technology-focused approach to cultivation operations, deploying proprietary hardware and software, modern techniques, and innovative business models which represents advancements in both the cannabis industry and controlled environment agriculture in general."

About Enerdynamic Hybrid Technologies Corp.
The company delivers proprietary, turnkey energy solutions which are intelligent, bankable and sustainable. The company's expertise includes the development of its Enertec module structures with full integration of smart energy solutions. Using a proprietary skin and foam core that are stronger than traditional wood or steel structural insulated panels, the company provides exceptional thermal energy efficiency in modular homes, cold storage facilities, residential/commercial outbuildings and emergency/temporary shelters. The company works with its partners worldwide to erect the buildings on-site utilizing company staff and local crews.

About Enertec
The company's advanced Enertec modular wall and roof system uses a proprietary skin and foam core that are stronger and more energy efficient than traditional wood or steel structures, providing the highest ratings for energy efficiency. After installation, each structure can be furnished and finished to meet the customer's requirements including siding, tile, kitchens and bathrooms, or segregated commercial rooms. The finished wall product can be shipped on pallets and delivered via rail, truck or water in standard formats.


Tuesday, November 6, 2018

Int'l Battery completes phase 2 engineering study

2018-11-06 11:04 ET - News Release

Dr. John Burba reports
International Battery Metals Ltd. has completed its phase 2 engineering study, design and cost analysis.

Upon receipt of the phase 2 engineering report, Dr. John Burba, chief executive officer of International Battery, stated: "We are very pleased with the work product that our engineering partner, Impact Engineering, has presented to us. The work was timely and thorough. Furthermore, we believe that their engineering refinements to our design will create additional value to IBAT and the industry."

Based on this engineering report, International Battery is on track to placing its first extraction system in operation next year. This system will provide enough capacity to produce commercial quantities of high-purity 40 per cent lithium chloride (LiCl) and provide significant environmental advantages:
  1. Unlike evaporative processes that can damage sensitive salars, such as those found in South America, International Battery's process does not evaporate water from the brine. Instead, it extracts lithium from the brine and returns it back to the resource. This maintains the resource water balance and protects delicate ecosystems.
    1. International Battery's process does not utilize any solvents or foreign chemicals that will alter the brine chemistry. This feature is important to the protection of resource ecology. Returning brine to the resource could be questionable if the return brine is contaminated with organic solvents or other chemicals that are not native to the ecosystem.
  2. International Battery's process is designed to recycle approximately 95 per cent of its process water. International Battery's water recovery system will be particularly important in desert areas such as South American salars, and areas where potable ground water is in short supply.
About International Battery Metals Ltd.
International Battery Metals is an advanced technology company focused on lithium brine extraction. The company is in the process of creating and applying intellectual property related to lithium extraction from oil field brines for petro-lithium extraction projects. International Battery Metals' unique extraction process is environmentally friendly and low cost and has the potential to produce high-quality, commercial grade lithium at a much faster rate than the current industry standards.
We seek Safe Harbor.