TORONTO, ONTARIO--(Marketwired - Feb. 5, 2014) - dynaCERT Inc. (TSX VENTURE:DYA) ("dynaCERT" or the "Corporation") is pleased to provide an update on its previously announced Caribbean pilot project, and to announce the entering into of a new agency/consulting agreement, as well as provide an update on HydraGen testing activities in California, Chile and China.
Caribbean Pilot Project
As announced via the Corporation's press release dated December 6, 2013, Phase 1 of the Corporation's pilot project in the Caribbean was initiated on December 9, 2013. Baseline operating conditions were established and preliminary testing was initiated with the addition of hydrogen through the air intake to the engine of a 9R32 Wartsila generator. It was originally anticipated that the Phase 1 testing would last approximately 4 weeks, however that timeframe is being revised due to mechanical difficulties with the generator's engine (unrelated to dynaCERT's product and service). Replacement parts for the engine have been ordered and are awaited, and upon arrival will be installed on the engine. It is expected that once the engine repair has been completed, Phase 1 of the pilot project will resume shortly thereafter. A definitive date for re-commencement has not been established (as it is contingent on arrival and installation of replacement parts), however both parties have maintained communications and expect to complete Phase 1 testing prior to Q2 2014.
New Agency/Consultant Agreement
dynaCERT also announces that it has signed an Agency/Consultancy Agreement with Mr. Arthur Silverberg, of the State of California. The foregoing agreement appoints Mr. Silverberg as one of dynaCERT's non-exclusive agents to represent the HydraGen™ technology. The foregoing agreement is for a term of five (5) years (renewable for an additional five (5) years thereafter) and appoints Mr. Silverberg as a non-exclusive selling agent of dynaCERT, which enables Mr. Silverberg to represent dynaCERT's products, purchase wholesale products, obtain volume discounts, etc. The Agency/Consulting Agreement is non-exclusive, however Mr. Silverberg may identify named customers from time to time, in respect of which he shall have exclusive negotiating rights for a period of six months following acceptance by dynaCERT. Mr. Silverberg's prior business experience was largely in real estate investment and development, though his financial interests span various sectors, including environmental ones. He was formerly President, CEO and Co-Owner of Hopkins Financial Corporation, a Camarillo, California-based company involved in land acquisitions, development, leasing and sales and whose portfolio included shopping centres, major industrial parks, and several large residential tracts. Mr. Silverberg was also a partner with Century Development Corporation of Marina Del Ray, California, where he positioned and bought various industrial properties. In addition, as a Partner with Oren Realty and Development Corporation, Mr. Silverberg was instrumental in the financing numerous property acquisitions, including the purchase and sale of residential tracts, industrial parks, and office buildings.
Testing and Data Sharing Agreements
Mr. Silverberg organized an opportunity for the Corporation to install a HydraGen unit on a 2003 Peterbuilt Class 8 truck through one of his corporate contacts, Total Transportation Services Inc. ("TTSI"). TTSI is headquartered in Rancho Dominguez, California, and operates trucking and shipping of containers via multiple deep water ports throughout the United States. dynaCERT & TTSI have entered into an agreement for the purposes of allowing TTSI to test the HydraGen™ technology over a period of one year. The Corporation has provided and assisted in the installation of a HydraGen™ unit on the aforementioned truck, which shall remain on loan to TTSI for the purposes of testing and on-going shared data collection.
Enermek is a private equity company that focuses on providing environmental solutions and energy savings in the Latin American market. The Corporation and Enermek have entered into an agreement for testing of the Corporation's HydraGen™ technology in the south of Chile. The Corporation has shipped two HydraGen units to Chile and has sent product development and technical personnel to Chile on January 28, 2014. The units have now been installed on two trucks with Cummins engines.
The agreement in place with Enermek stipulates that fuel economy will be measured daily and compared to baseline data from the truck ECM, as well as data collection obtained via mileage recording and total liters of diesel fuel consumed. The Corporation expects the testing to last between 2 - 4 weeks, with an opportunity to extend the testing protocol in order to collect further data.
AltEnergy / China Testing
Further to the Corporation's agreement with AltEnergy Advisors Inc. ("AltEnergy") (as most recently referenced in the Corporation's press release dated December 6, 2013), negotiations are continuing in connection with the potential purchase and sale of either or both of the right to manufacture the HydraGen™ in China and/or the right to distribution of the HydraGen™ in China (or, alternatively, the entering into of "licensing agreements" whereby manufacturing of the product would take place internationally, in which instance dynaCERT would maintain control and distribution of proprietary and Intellectual Property to third parties). In connection with such negotiations, representatives of the Corporation recently completed a three-week trip to ZhengZhou, China to assist with product testing and analysis. No agreements have been entered into at this stage, nor have any principal terms been agreed upon. Further updates concerning such negotiations and activities will be provided as they occur and become material to the Corporation.
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, resulting in lower carbon emissions and greater fuel efficiency. Our technology is currently in use with on-road applications. More information can be found at www.dynacert.com.
TTSI, a mid-sized American company, is one of the largest delivery carriers in Los Angeles and the Port of Long Beach - one of the busiest seaports in the world.
Headquartered in Rancho Dominguez, CA, TTSI is a progressive, asset-based logistics provider with distinct expertise in distributing imports within the US and Canada. With a strong central leadership, TTSI is able to offer agile distribution solutions and a variety of transportation option for the simplest delivery to the most complex supply networks. Our strengths lie in solving situations before they become problems and adjusting services to meet client's specific requirements.
TTSI's Executive Management Team has developed a highly successful, comprehensive business model while focusing on two goals - Staying a Step Ahead and Leaving Small Footprints. More information can be found at www.TTS-I.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 periodic updates of results, testing programs and results, negotiations with third parties concerning potential business transactions, and the timing of certain going forward projects. 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.
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On Behalf of the Board
Murray James Payne, CEO