- Tribe announces a partnership with Electric Asset, offering strata corporations in British Columbia access to specialized electrical planning and EV readiness reports, supporting compliance with legislative requirements and future-proofing buildings.
- The partnership provides access to services supporting mandatory Electrical Planning Reports (EPRs), EV Ready Plans (EVRP), Opportunity Assessment Reports (OAR), Annual Energy and Carbon Reporting (GHG), Voltage Conversion Projects for BC Hydro (VCP) and streamlining processes with grant application support and promoting ESG initiatives.
Vancouver, British Columbia – January 22, 2025 – Tribe Property Technologies Inc. (TSXV: TRBE) (OTCQB: TRPTF) (“Tribe” or the “Company”), a leading provider of technology-elevated property management solutions, is pleased to announce its partnership with Electric Asset Inc. (“Electric Asset”), a trusted provider of intelligent energy management solutions. The collaboration empowers strata corporations across British Columbia to meet mandatory legislative requirements while embracing energy efficiency and sustainability.
Electric Asset is a leader in EV charging and energy management solutions. The company provides customized services for condos, townhomes, and mixed-use buildings, supported by 20+ years of expertise in strata management and project delivery.
The partnership includes access to five programs designed to enhance building operations:
- Electrical Planning Report (EPR): A mandatory report for British Columbia strata properties under the Strata Property Act, this report assesses a building’s electrical capacity and provides insights into future electrical demands, including considerations for EV charging, heat pumps, and reducing reliance on fossil fuels.
- EV Ready Plan (EVRP): Evaluates the costs and requirements for making buildings EV-ready, with rebates of up to 75% of the plan’s cost available through BC Hydro.
- Opportunity Assessment Report: Identifies opportunities to improve energy efficiency, reduce greenhouse gas emissions, and access retrofit funding through BC Hydro programs.
- Annual Energy and Carbon Reporting (GHG) – City of Vancouver: Reporting a building’s energy performance and greenhouse gas emissions and identifies opportunities to reduce energy use. This report is mandatory in BC with 2024 reporting due on June 1, 2025 for buildings over 100,000 square feet and June 2026 for smaller strata properties.
- Voltage Conversion Projects for BC Hydro (VCP): The process of converting parts of the electrical distribution system (substations, wires & electrical equipment) from 4 or 12 kV to 25 kV.
Joseph Nakhla, CEO of Tribe, commented, “Tribe remains committed to building health and ensuring our communities are equipped to meet evolving legislative requirements and environmental standards. Our partnership with Electric Asset ensures that strata properties can navigate these complex processes seamlessly while accessing innovative solutions to future-proof their buildings.”
Sanjay Maharaj, Founder of Electric Asset, commented, “Our partnership with Tribe aligns with our mission to deliver cost-effective and sustainable energy solutions. By streamlining processes and supporting grant applications, we’re empowering strata corporations to embrace the future of energy management while meeting today’s needs.”
About Tribe Property Technologies
Tribe is a property technology company that is disrupting the traditional property management industry. As a rapidly growing tech-forward property management company, Tribe’s integrated service-technology delivery model serves the needs of a much wider variety of stakeholders than traditional service providers. Tribe seeks to acquire highly accretive targets in the fragmented North American property management industry and transform these businesses through streamlining and digitization of operations. Tribe’s platform decreases customer acquisition costs, increases retention, and allows for the addition of value-added products and services through the platform. Visit tribetech.com for more information.
About Electric Asset Inc.
Electric Asset Inc. is your trusted partner in navigating the complex world of Electric Vehicle (EV) charging infrastructure. With over 20 years of experience in strata management, real estate, and project management, we simplify the installation of Electric Vehicle charging stations with end-to-end solutions for condos, townhomes, single-family homes, and mixed-use buildings across British Columbia.
Tribe Property Technologies Inc.
“Joseph Nakhla”
Chief Executive Officer
1606 – 1166 Alberni Street, Vancouver, British Columbia, V6E 3Z3
1-888-773-8381
For more information, please contact:
Pardeep Sangha
Investor Relations
Email: ir@tribetech.com
Ph: 604-572-6392
Jennifer Laidlaw
Media Relations
Email: Jennifer.laidlaw@tribetech.com
Footnotes:
(1) Adjusted EBITDA is a non-IFRS measure that does not have a standardized meaning and may not be comparable to a similar measure disclosed by other issuers. The Company defines Adjusted EBITDA as net income or loss excluding depreciation and amortization, stock-based compensation, interest expense, income tax expense, impairment charges and other expenses. The Company believes Adjusted EBITDA is a useful measure as it provides important and relevant information to management about the operating and financial performance of the Company. Adjusted EBITDA is provided as a proxy for the cash earnings (loss) from the operations of the business as operating income (loss) for the Company includes non-cash amortization and depreciation expense and stock-based compensation. Adjusted EBITDA also enables management to assess its ability to generate operating cash flow to fund future working capital needs, and to support future growth. Excluding these items does not imply that they are non-recurring or not useful to investors. Investors should be cautioned that Adjusted EBITDA attributable to shareholders should not be construed as an alternative to net income (loss) or cash flows as determined under IFRS.
NOT FOR DISTRIBUTION IN THE U.S. OR TO U.S. NEWSWIRE SERVICES.
Cautionary Statement on Forward-Looking Information
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement on Forward-Looking Information
This news release contains certain statements which constitute forward-looking statements or information under applicable Canadian securities laws, including, but not limited to, statements relating to the expected financial results, the Company’s goals and strategy, and timing of financial reports. Such forward-looking statements are subject to numerous known and unknown risks, uncertainties, and other factors, some of which are beyond the Company’s control, which could cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. These risks and uncertainties include changes to applicable laws or the regulatory sphere in which the Company operates, general economic and capital markets conditions, and stock market volatility. Although the Company believes that the forward-looking statements in this news release are reasonable, they are based on factors and assumptions, based on currently available information, concerning future events, which may prove to be inaccurate. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to plans, operations, results, levels of activity or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, the Company does not undertake any obligation to publicly update or to revise any of the forward-looking statements, whether because of new information, future events or otherwise.