TORONTO--(BUSINESS WIRE)--dynaCERT Inc. (TSX: DYA) (OTCQX: DYFSF) (FRA: DMJ) ("dynaCERT" or the "Company") is pleased to announce that the Company has received a purchase order for 3,000 Units of its HydraGEN™ Technology Units designed to reduce fuel consumption and reduce greenhouse gas emissions in diesel engines while tracking and creating future Carbon Credits.
The recipient of these HydraGEN™ Units is Bristol & Bristol Incorporated, an oil and gas logistics company located in Georgetown, Guyana. The contract was brokered by Mr. Amir Farahi, a director of the Company, where he will act as a conduit for the purchase of the units on behalf of dynaCERT for Bristol & Bristol.
The Company has received full payment for an initial 93 HydraGEN™ HG-2 Units for delivery commencing immediately. A further 140 HydraGEN™ Units are expected to be delivered by July 30th 2023 and 750 units to be delivered by September 30th 2023. Further delivery of the remaining units beyond September 30th 2023 are to be mututally agreed upon by both Bristol & Bristol and dynaCERT.
Marvin Bristol, President & CEO of Bristol & Bristol, stated, “We are very pleased to have been given the opportunity to deploy dynaCERT’s HydraGEN™ Technology in Guyana and surrounding regions. Our country has been responsive to new technologies that reduce carbon emissions and understand the importance of deploying, today, readily available solutions to reduce pollution. Not only can we benefit from dynaCERT’s HydraGEN™ Technology Units designed to reduce fuel consumption and save on diesel costs, but also reduce greenhouse gasses, which is important to all our citizens and visitors.”
Jim Payne, President & CEO of dynaCERT, stated, “dynaCERT is very pleased to be featuring our HydraGEN™ Technology to Bristol & Bristol. As new adopters of our technology, Bristol & Bristol are contributing to the world-wide imperatives and their associated local and global efforts to reduce greenhouse gas emissions of diesel engines. Bristol & Bristol have acknowledged that dynaCERT received the Smart Sustainable Company Rating Seal based on the results of rigorous analysis. This honourable distinction of dynaCERT and its HydraGEN™ technology as it applies to the United Nations Sustainable Development Goals and the United Nations Global Compact Principals has been evaluated as "high", the highest global ranking in its category. The extraordinary endorsement of dynaCERT allows its dealers to engage with customers with the assurance that the Company's HydraGEN™ technology has a significant contribution to the Sustainable Development Goals on the United Nations.”
The purchase order discussed herein has been received from an Insider of the Company on behalf of Bristol and Bristol Inc. and therefore this constitutes a Related Party Transaction within the meaning of Multi-lateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"), however exemptions are available from the valuation (s. 5.5(a)) and minority shareholder approval requirements (s. 5.7(a)) of MI 61-101. The foregoing purchase order is also subject to receipt of the approval of the Toronto Stock Exchange.
About dynaCERT Inc.
dynaCERT Inc. manufactures and distributes Carbon Emission Reduction Technology along with its proprietary HydraLytica™ Telematics, a means of monitoring fuel consumption and calculating GHG emissions savings designed for the tracking of possible future Carbon Credits for use with internal combustion engines. As part of the growing global hydrogen economy, our patented technology creates hydrogen and oxygen on-demand through a unique electrolysis system and supplies these gases through the air intake to enhance combustion, which has shown to lower carbon emissions and improve fuel efficiency. Our technology is designed for use with many types and sizes of diesel engines used in on-road vehicles, reefer trailers, off-road construction, power generation, mining and forestry equipment. 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. 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 of 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. In particular, forward-looking information in this press release includes, but is not limited to the future delivery of HydraGEN™ Technology Units under the purchase order, Bristol & Bristol Incorporated and the nation of Guyana 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.
Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of the release.
On Behalf of the Board
Murray James Payne, CEO