EHT Expands Enertec Products into Europe; Signs Strategic Partnership with Netherlands Solar Manufacturer, Energyra
NIAGARA FALLS, ON / ACCESSWIRE / November 29, 2021 / EnerDynamic Hybrid Technologies Corp. (TSXV:EHT) ("EHT" or the "Company"), a global leader in renewable energy solar and wind technologies, is pleased announce it has signed a strategic …
NIAGARA FALLS, ON / ACCESSWIRE / November 29, 2021 / EnerDynamic Hybrid Technologies Corp. (TSXV:EHT) ("EHT" or the "Company"), a global leader in renewable energy solar and wind technologies, is pleased announce it has signed a strategic partnership agreement with Energyra Europe B.V. ("Energyra"), an innovative solar manufacturing and R&D company, pioneering the development of highly-durable solar PV modules in the Netherlands.
Energyra, owns and operates a 100 MW solar manufacturing facility in Amsterdam where it produces solar modules based on metal wrap-through ("MWT") and interdigitated back contact ("IBC") cell technology, designed to address challenges with microcracks and degradation/failure modes typically seen with conventional soldered PV modules.
Figure 1: Energyra's solar manufacturing facility in Amsterdam
Under the partnership, Energyra will become the preferred manufacturer and distributor for EHT's solar panels, shelters and utility sheds across Europe and ROW for the renewable energy and Telecom industries. The value of the strategic partnership is expected to exceed €100M (CAD$144M) in revenue over the next five years from the Enertec product line as well as jointly developed EHT and Energyra products, due to increased scale and distribution from the added European based manufacturing facility that will benefit from increased government incentives on solar goods made inside of the European Union ("EU").
Energy efficiency is one of the pillars of the EU, with investments in renewable energies expected to total at least 650 billion euros by 2030 to power 20% of European electricity demand through solar energy, according to management consultancy Kearney and SolarPower Europe, a 200+ member-led organization from 38 countries. SolarPower Europe further noted post the COP26 conference this year that the EU must increase its renewable energy target and production to meet the Paris Agreement goal. Solar and wind energy is critical to place the continent on trajectory towards achieving climate neutrality by 2050.
To help meet the 2050 goal and the expected 4 million added jobs throughout the continent, the European Commission has set an ambitious interim target for the EU to raise the share of renewable energy to 40% by 2030, up from roughly 20% in 2019.
Industry-First Solar PV Modules
In addition, EHT and Energyra are co-developing industry-first solar PV modules that utilize EHT's semi-flexible and lightweight front solar panels with Energyra's back contact cells based on both MWT and IBC technology. When combined, EHT and Energyra will offer the only lightweight solar panel with back-contact durability. EHT and Energyra will actively collaborate in creating new products to service the renewable energy community and jointly improve the market for such products.