dynaCERT Provides Caribbean Pilot Project Update and Announces New
Agency Agreement, Product Testing Activities
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
TTSI
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
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.
About TTSI
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.
READER ADVISORY
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.
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 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.
On Behalf of the Board
Murray James Payne, CEO
dynaCERT Inc.Jonathon ShepherdGeneral Manager(416) 766-9691x
605jshepherd@dynacert.comdynaCERT Inc.Investor
Relationsir@dynacert.comwww.dynacert.com
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