Source: dynaCERT Inc.
TORONTO, March 02, 2018 (GLOBE NEWSWIRE) -- dynaCERT Inc. (TSX-V:DYA) (OTCQB:DYFSF) (DAX:DMJ) ("dynaCERT" or the "Company") is pleased to provide the following update:
Testing by Automotive Research Association of India
The India trucking industry participants realize that there is a potential performance difference between testing and use of the HydraGEN™ Technology in North America as compared to the environmental and operational conditions in South Asia. The Automotive Research Association of India (“ARAI”) has been contracted by dynaCERT to test our HydraGEN™ Technology under the supervision of one of our senior engineers and rigorously subject the technology to local road and driving conditions in India. This testing will be with the lower grade diesel fuel that is available in the market and on vehicles that are technologically different than those in North America where our previous testing has been done.
These tests are expected to be completed prior to the official HydraGEN™ product launch during the upcoming All India Motor Transport Congress in New Delhi as provided by the conditions for the sale of our HydraGEN™ Technology stated in the press release dated February 27th, 2018.
Enrico Schlaepfer, Vice President of Global Sales, will be travelling to Belgium, Germany, Switzerland and Austria for many meetings starting March 5, 2018. Mr. Schlaepfer, along with dynaCERT's dealer for Germany and Switzerland, H2 GreenTech, will be visiting current and new potential customers who have indicated an interest in using our HydraGEN™ Technology on their stationary generators.
In furtherance of the development of the marketing to the on-road transportation industry in the European market, Mr. Schlaepfer will be also overseeing the final steps for homologation certification in Germany working with TUV NORD and TUV SUD. As reported previously, the Company has created dynaCERT GMBH as a wholly-owned subsidiary in Germany in order to comply with the European road transport requirements for certification and to facilitate dynaCERT’s sales and marketing strategy for Europe, Middle East and Africa i.e. EMEA. The certification process is the final regulatory requirement to license on-road transport companies to use the HydraGEN™ Technology on their vehicles.
Northwest Territories Power Corporation
The installation and testing of HydraGEN™ units in mid-2017 is completed. Due to exceptional results realized on similar applications in Europe, we are now in discussions to perform further testing with our upgraded units to increase fuel savings. These upgraded units are a simple, low cost retrofit to the existing operational engines with minimal modifications to each power station.
dynaCERT has been notified that we are one of three finalists to receive an Edison Award™ for our HydraGEN™ Technology in the Energy & Sustainability – Vehicle Advancements segment. The 2018 Edison Awards™ are to be presented in New York City on April 11, 2018.
The Edison Award™ is a leader in globally recognizing, honouring and fostering innovation and innovators to create a positive impact in the world. Being recognized with an Edison Award™ is one of the highest accolades a company, like dynaCERT, can receive in the name of innovation and business success as can be seen on their website http://www.edisonawards.com/finalists2018.php.
Conference Technical Presentation
Olivia Maier, dynaCERT’s chemical engineer, has been chosen to be a presenter of the technical paper titled “HydraGEN™ Technology Performance on Reefer Engines” at the 21st annual Energy, Utility, & Environment Conference (“EUEC”) to be held on March 5 to 7, 2018. The EUEC is the largest professional educational, training & networking event of its kind, which this year is in San Diego, California.
Toronto Truck World
dynaCERT is very pleased to be a first-time exhibitor at this year’s Truck World trade show that is being held in Toronto on April 19 to 21, 2018. We will be joined by several of our dealers celebrating the official launch of our HG-1 and HG-2 series of HydraGEN™ Technology. Please drop by and visit our booth #5559.
As reported by our legal council, the legal action with a previous supplier (see Management’s Discussion and Analysis dated September 30, 2017 filed on SEDAR) is continuing. The Company is responding to a demand for particulars and expects to receive a defence statement thereafter.
About dynaCERT Inc.
dynaCERT Inc. manufactures, distributes, and installs Carbon Emission Reduction Technology for use with internal combustion engines. As part of the growing global hydrogen economy, our patent-pending technology creates hydrogen and oxygen on-demand through electrolysis and supplies these through the air intake to enhance combustion, resulting in lower carbon emissions and greater fuel efficiency. Our technology is designed for use with all types and sizes of diesel engines used in on-road vehicles, reefer trailers, off-road construction, power generation, marine vessels and railroad locomotives. Website: www.dynaCERT.com
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, forward-looking information in this press release includes, but is not limited to the potential expansion into new markets, industries and segments, such as diesel-powered use of any the dynaCERT products in India or sales in India. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: uncertainty as to whether our strategies and business plans will yield the expected benefits; availability and cost of capital; the ability to identify and develop and achieve commercial success for new products and technologies; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology and changes in laws and regulations; the uncertainty of the emerging hydrogen economy; including the hydrogen economy moving at a pace not anticipated; our ability to secure and maintain strategic relationships and distribution agreements; and the other risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
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On Behalf of the Board
Murray James Payne, CEO
For more information, please contact:
Jim Payne, CEO & President
#101 – 501 Alliance Avenue
Toronto, Ontario M6N 2J1
(416) 766-9691 x 2
(416) 766-9691 x 1