GN signs MoU with EnerDynamic Hybrid Technologies

Groupe Nduom (GN) has signed a Memorandum of Understanding (MoU) with Canadian company EnerDynamic Hybrid Technologies Corp. (TSXV: EHT) to create a mutually-beneficial joint venture in Ghana, West Africa.

A press release from EHT on Monday March 3 said the joint venture is intended to facilitate the dynamic integration of manufacturing and distribution of the ENERTEC modular building/home technology through expansion and vertical integration within the GN group.

Through EPPL, a subsidiary of GN which is a long-established EPS foam production organisation, EHT has now secured manufacturing capacity located directly in its target market of West Africa.

EPPL will manufacture the ENERTEC panels using its top-quality foam, forming the core of the ENERTEC wall panel while adding the EHT-supplied ENERTEC skin to produce a complete, proprietary module/panel.

EHT will manufacture its Embedded Solar Roof sections at its Welland, Ontario, facility and ship them to EPPL for final assembly and module integration.

With the high cost of shipping and extended delivery schedules created by start-to-finish production in Canada, a high quality and stable manufacturing facility within the market allows for a significant increase in margins and a critical reduction in the customer order-to-delivery cycle.

GN and the company have agreed to jointly produce two build-to-suit ENERTEC units: a money store and a general store, both products sought internally within the GN group of companies for specific commercial segments.

The parties will also seek co-branding opportunities across Ghana and other parts of West Africa, and they have further agreed to formalise the joint venture in the near term and to have the integral manufacturing facility therefore in production this summer.

John Gamble, CEO of EHT, indicated: "We are very pleased to have the opportunity to work with a world class organisation like the Nduom Group. The Nduom organisation offers, among other opportunities, the final piece in our West African strategy by ensuring our products can reach the market in a cost-effective and timely manner."

He further commented: "Our expertise and exclusive products give EHT a very strong position in the West African market."