TORONTO, June 21, 2018 (GLOBE NEWSWIRE) -- dynaCERT Inc. (TSX VENTURE:DYA) (OTCQB:DYFSF) (DAX:DMJ) ("dynaCERT" or the "Company") is pleased to provide the following updates:
India Bus Market
dynaCERTis pleased to announce, after a successful trial programme, the receipt of a new order, with deposit, for HydraGEN™ units and the signing of our standard non-exclusive Dealer Agreement for the India Market where a total of 114 HG145 units are to be delivered. A HG145 unit has a retail list price of CAD $7,800.
Solutions 4 Pollution Private Limited (S4P) is a newly formed entity in India focused on delivering HydraGEN™ Technology to the inter-city bus market. The total number of buses in India alone exceeds one-half million diesel-powered vehicles. These buses operate typically to Euro III environmental standards where the use of the HydraGEN™ units could significantly reduce the urgent problem of toxic exhaust pollution and meaningfully save fuel costs of bus operators and owners. The use of the HydraGEN™ Technology is viewed as assisting the India Government in meeting its Paris Accord commitments.
The new order for HG145 units was agreed by dynaCERT and S4P to have a rollout period of 12 months commencing August 15, 2018 and to be supported by the Export Development Corporation (EDC), a Crown Corporation of the Government of Canada.
dynaCERT is pleased to announce the expansion of its Canadian sales network with new dealers now in place in both Red Deer, Alberta and Fort McMurray, Alberta and also in Vaughan, Ontario. These additions bring the total number of dealers and agents to 25 worldwide. dynaCERT is currently in discussions with these new dealers in order to provide customized HydraGEN™ solutions for different applications leading to new orders for a diversity of clients.
Additional HG145 Orders
dynaCERT is also pleased to announce the continued acceptance of it flagship product, the HG145. Over the past week, the Company has received multiple purchase orders from its North American based dealers to deliver more units that are destined for current North American Free Trade Agreement (NAFTA) countries and the Brazilian truck markets.
Annual General Meeting
dynaCERT is pleased to hold, as scheduled, its Annual General and Special Meeting of Shareholders (AGM) on Friday, June 22, 2018 at 11:00am EDT at the 501 Alliance Banquet Hall, Toronto, Ontario. Management is looking forward to greeting and welcoming shareholders.
dynaCERT Inc. manufactures, distributes, and installs Carbon Emission Reduction Technology for use with internal combustion engines. As part of the growing global hydrogen economy, our patent-pending technology creates hydrogen and oxygen on-demand through electrolysis and supplies these through the air intake to enhance combustion, resulting in lower carbon emissions and greater fuel efficiency. Our technology is designed for use with all types and sizes of diesel engines used in on-road vehicles, reefer trailers, off-road construction, power generation, mining and forestry equipment, marine vessels and railroad locomotives. 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. In particular, forward-looking information in this press release includes, but is not limited to the potential expansion into new markets, industries and segments, such as diesel-powered use of any the dynaCERT products and sales. 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 atwww.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
For more information, please contact:
Jim Payne, CEO & President
#101 – 501 Alliance Avenue
Toronto, Ontario M6N 2J1
(416) 766-9691 x 2
(416) 766-9691 x 1
© 2018 GlobeNewswire, Inc. All Rights Reserved.