TORONTO, ON--(Marketwired - November 21, 2016) - dynaCERT Inc. (TSX VENTURE: DYA) (OTCBB: DYFSF) ("dynaCERT" or the "Company") is pleased to provide a corporate update.
All outstanding warrants of the company have been exercised funding the company treasury with $2,928,974. Funds will be used for operations for production of the HydraGen™ units. We are now planning new R&D efforts in different applications, a targeted marketing programme and focused attention on increasing sales.
dynaCERT has engaged a seasoned manufacturing consultant to develop our new production facility as we continue to assemble units in our current premises. The production target in our new facility is 6,000 units per month to fulfill anticipated sales.
In addition to the agency agreements previously announced, we are actively interviewing strategic sales firms in different regions across North America and Europe with direct contacts to the local transportation, heavy equipment and power-generation firms. The plan is to create a wide distribution network that represents dynaCERT and the HydraGen™ product effectively.
Automotive Centre of Excellence (ACE) at the University of Ontario Institute of Technology (UOIT) testing results reported in press release dated November 15, 2016, verified up to 19.2% fuel consumption reductions. As well, results yielded up to 40% reductions in greenhouse gases for the Class 8 diesel truck engines.
We continue to test smaller versions of the HydraGen™ unit, for use on diesel engines in the light truck and passenger vehicle markets, at an independent third party accredited facility in the United States. Results from the American testing centre will be press released when received by dynaCERT.
dynaCERT has submitted several applications for Federal and Provincial grants supporting business growth, Research and Development and expansion of our technology and Intellectual Property. This includes developing, testing and verification for off-road construction vehicles, railroad locomotives, ocean-going ships, off-the-grid systems and land-based power generation units.
Jim Payne, President and CEO of dynaCERT, states, "We are thrilled with the recently announced third party validation and testing results. The HydraGen™'s capability to reach up to 40% in the reduction of greenhouse gases and over 19% in fuel savings met and exceeded our expectations. Trucks equipped with the HydraGen™ unit can reduce particulate matter by over 65%, significantly reducing the black smoke being emitted into the environment. The 550+ pages of testing results have provided the company with valuable data enabling us to further program our new Smart ECU to maximize performance for all applications."
As released on November 08, 2016, dynaCERT Inc. was chosen as one of Canada's Top 20 hottest most innovative small- and mid-market tech public companies for 2016 by the Canadian Innovation Exchange (CIX). dynaCERT's President and CEO, Jim Payne will be presenting our company and technology to an audience of Canada's top tech investors and peers at the CIX public investor day. This year's event will be held at MaRS Discovery District in Toronto on November 23, 2016 and is unique to any other showcase event in Canada.
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.
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.
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.
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On Behalf of the Board
Murray James Payne, CEO