- EnerDynamic Hybrid Technologies (TSXV:EHT) is hoping a new Puerto Rican infrastructure plan will positively impact its partner, Brieke Family Assets
- The two companies provide construction and energy solutions in Puerto Rico, which recently endured multiple natural disasters
- Puerto Rico’s Department of Housing recently approved an C$8.3 billion action plan, to help the disaster relief effort
- As a result, the two companies are expecting a boom in housing construction, resulting in higher sales from its contractors
- EnerDynamic Hybrid Technologies (EHT) is holding steady, with shares trading for 2.5 cents and a market cap of $8.4 million
EnerDynamic Hybrid Technologies (TSXV:EHT) is hoping a new infrastructure plan will positively impact its Puerto Rican partnership.
Government officials recently approved an action plan by the Puerto Rico Department of Housing, which allocates funding from the US housing department.
The action plan will help Puerto Rico recover from multiple natural disasters which recently ravaged the country. The recent arrival of the COVID-19 pandemic has further compounded the devastating impacts.
Through the plan, the country will receive C$8.7 billion for disaster relief and infrastructure rebuilding.
EnerDynamic and its partner Brieke Family Assets believe this influx of government spending will result in a housing development boom.
Brieke Family Assets has been operating in the region since Hurricane Maria hit in 2017. During that time, it provided energy and building solutions to the recovery effort.
The company previously expected that funding would come through in 2018, but it has been delayed until now.
Brieke Family Assets expects to have 7.5 per cent market share of the new build projects. This number is likely to rise as new contractors are added.
Through its partnership, EnerDynamic provides its ENERTEC Modular Wall and Roof System to Brieke Family Assets projects. The system provides building materials for housing exteriors, including an embedded solar roof module.
John Gamble, CEO of EnerDynamic, believes both companies are positioned to emerge well from the Puerta Rico’s recent challenges.
“This announcement by the Oversight Board has been a long time in the making. We believe the release of the first three billion is now very close. It is logical that it will commence at the return to work after the coronavirus lockdown ends in Puerto Rico. We will continue to update as things progress,” he said.
EnerDynamic Hybrid Technologies (EHT) is holding steady, with shares trading for 2.5 cents at 11:55am EST.