dynaCERT Inc. Announces Commencement of Pilot Project Phase 1 & Due Diligence Completion Together With Associated China Right...
06 Dicembre 2013 - 2:49PM
Marketwired
dynaCERT Inc. Announces Commencement of Pilot Project Phase 1 and
Due Diligence Completion Together With Associated China Rights
Negotiations
TORONTO, ONTARIO--(Marketwired - Dec 6, 2013) -
dynaCERT Inc. (TSX-VENTURE:DYA) ("dynaCERT" or
the "Corporation") is pleased to announce that Phase 1 of its
previously announced pilot project in the Caribbean (the "Pilot
Project") will commence on December 9, 2013 (for further details
concerning the Pilot Project, please refer to the Corporation's
press releases dated October 7 and November 4, 2013). The
Corporation is also pleased to announce the completion of due
diligence reviews in connection with its previously announced
Agency/Consulting Agreement with AltEnergy Advisors Inc.
("AltEnergy") and ongoing negotiations by AltEnergy with potential
third party manufacturers, distributors or licensors for the
Corporation's HydraGen™ product in China.
CARIBBEAN PILOT
PROJECT
Phase 1 of the Pilot Project is set to commence on December 9,
2013. All required equipment and supplies have arrived at location
and the team that will be completing Phase 1 are scheduled to
arrive in the Caribbean on December 8, 2013. The Corporation does
not anticipate providing any further updates regarding the Pilot
Project until Q1 of 2014.
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 December 9, 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 was issued within the 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.
ALTENERGY
AltEnergy has advised dynaCERT that it has completed
its due diligence of dynaCERT's HydraGen™ technology in
accordance with its Agency/Consulting Agreement with the
Corporation and that it is currently pursuing negotiations with
third parties in China in connection with the potential purchase
and sale of either or both of the right to manufacture the
HydraGen™ in China (the "Manufacturing Rights") and/or the right to
distribution of the HydraGen™ in China. Alternatively,
dynaCERT may, at its discretion, determine to enter into
"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.
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.
About AltEnergy Advisors Inc.
AltEnergy Advisors Inc., headquartered in Des Moines, IA, USA,
is a firm that focuses on technology transfers from North American
firms to Chinese firms as well as resource acquisition and
brokering to Chinese manufacturers. AltEnergy was formed by Shawn
Carson and Yichen "MJ" Liu. A broad spectrum of projects have been
transferred, sourced, and contracted including agricultural,
automotive, alternative energy, traditional energy, financial,
environmental, and transportation.
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.
dynaCERT Inc.Jonathon ShepherdGeneral Manager(416) 766-9691
x605jshepherd@dynacert.comdynaCERT Inc.Investor Relations(416)
766-9691ir@dynacert.comwww.dynacert.com
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