TORONTO, ONTARIO--(Marketwired - Nov. 4, 2013) - dynaCERT Inc. (TSX VENTURE:DYA) ("dynaCERT" or the "Corporation") provides a timing update regarding its previously announced pilot project to test the Corporation's hydrogen technology on a 9R32 Wartsila generator (the "Pilot Project") belonging to the Corporation's Pilot Project Partner (a private corporation that is a generator, distributor and transmitter of electric energy in a Caribbean nation).
As noted in the Corporation's news release dated October 7, 2013, Phase 1 of the Pilot Project was initially scheduled to commence during the last week of October 2013. The Corporation and its Pilot Project Partner have jointly adjusted the schedule for Phase 1 commencement such that the introduction of gas fumigation will begin at the end of November 2013. This schedule adjustment allows the team to gather data relating to baseline performance over a longer period of time, as well as ensure that all necessary equipment is at location and operating as per expectations. Phase 1 is still estimated to cover a timeframe of approximately 4 weeks, commencing at the end of November 2013.
As a reference, the details of Phase 1 are included below;
| • | Phase 1: will consist of testing and data collection that measures the performance characteristics of a 9R32 Wartsila generator with the introduction of gas fumigation at varying concentrations, compared to baseline performance. | |
| Phase 1 will be determined a success should there be a 5% or greater increase in fuel economy which would automatically advance the Pilot Project into Phase 2 upon receipt of Board approval from Pilot Project Partner. | ||
| Should the results of Phase 1 not achieve a 5% or greater increase in fuel economy, the Pilot Project can be abandoned in its current form and function. | ||
| Phase 1 is scheduled to commence the last week of November 2013 and has been budgeted at CDN$103,689.00, with cost allocations of CDN$56,800.00 to the Pilot Project Partner (50% of which is due within 10 days of signing the collaboration agreement and the balance being due within 30 days of commencement of Phase 1) and CDN$46,889.00 to dynaCERT (with such funds being allocated towards upfront costs associated with the Pilot Project). Phase 1 is estimated to cover a timeframe of approximately 4 weeks. |
About dynaCERT Inc.
dynaCERT Inc. manufactures, distributes, and installs Carbon Emission Reduction Technology for use with internal combustion engines. Our patent-pending technology creates hydrogen and oxygen on-demand through electrolysis and supplies these additives through the air intake to enhance combustion for the purpose of yielding lower carbon emissions and greater fuel efficiency. Our technology is currently in use with on-road applications and is in development for other applications, such as power generation. More information can be found at www.dynacert.com.
Forward Looking Information
This release includes forward looking statements, which are based on certain assumptions and reflects management's current expectations. These forward looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; 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; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; 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.
Neither 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 the release.
Contact Information:
Jonathon Shepherd
General Manager
(416) 766-9691x605
jshepherd@dynacert.com
dynaCERT Inc.
Investor Relations
(416) 766-9691
ir@dynacert.com
www.dynacert.com