TORONTO–(BUSINESS WIRE)–$DMJ #carbonemissions—dynaCERT Inc. (TSX: DYA) (OTCQX: DYFSF) (FRA: DMJ) (“dynaCERT” or the “Company”) is pleased to provide an update regarding its 4th Quarter 2023 sales and other activities, as well as highlights of 2023.
Highlights of 2023 include the following:
4th Quarter Achievements in Sales
TORONTO–(BUSINESS WIRE)–$DMJ #carbonemissions—dynaCERT Inc. (TSX: DYA) (OTCQX: DYFSF) (FRA: DMJ) (“dynaCERT” or the “Company”) is pleased to provide an update regarding its 4th Quarter 2023 sales and other activities, as well as highlights of 2023.
Highlights of 2023 include the following:
4th Quarter Achievements in Sales
The Company continued to make progress directly and through some of its dealers and agents throughout the globe which can form the foundation of 2024 sales. In particular, dynaCERT dealers Simply Green in Western Canada, Mobile Emissions in Eastern Canada, H2 Tek in the mining industry, and Gridfix in Australia were extremely active in marketing the Company’s HydraGEN™ Technology. In addition, Mr. Amir Farahi, a director of the Company, continued to advance the implementation of the Company’s products in Ontario and Quebec.
dynaCERT sales follow several successful initial pilot projects in a variety of applications by several global companies applying HydraGEN™ Technology which is designed to improve fuel consumption and significantly reduce Greenhouse Gases (GHGs).
During the 4th quarter 2023, the Company received significant repeat purchase orders from our global dealers, for delivery in early 2024 and in particular:
- 108-HG2 Models and 11-HG1 Models destined for a global mining and metallurgy company with operations in Peru, South America after 2-year pilot.
- 63-HG1 Models destined for a global mining and metallurgy company with mining operations in Brazil, South America.
- 18-HG1 Models for a global food producer with operations in 18 countries, currently destined for Mexico, North America.
Orders from new customers include the following:
- 3-HG6C Models recently shipped for open pit gold mining operations in Brazil, South America.
- One HG1 Model destined for Western Energy Services Corp., an oilfields services company based in Alberta, Canada which has been operating one unit for the last year and have purchased a 2nd unit (ordering from dealer inventory).
- One HG1 Model destined for a large Drill Rig company operating in Alberta and Colorado.
- One HG4C Model and three HG1 Models destined for a Multinational Oil Services company based in Australia for initial implementation in Egypt (ordered from dealer inventory).
dynaCERT has been successful in offering its HydraGEN™ Technology in a diversity of markets because of its distinct line of products which includes the following models: HG1 model designed for 10 to 15 litre diesel engines; HG2 model, designed for 1 to 8 litre diesel engines; HG4C designed for 30 to 60 litre diesel engines, HG6C designed for 60 to 90 litre diesel engines.
dynaCERT GmbH activities
In addition to the above, dynaCERT continued to conduct numerous activities in Europe. The European team added dealers in 2023 who participated in trade shows featuring the Company’s HydraGEN™ Technology. dynaCERT’s French distributor IPMD SAS officially and successfully launched the sales of the HydraGEN™ Technology at Solutrans 2023 in France, where the trade show was very successful realizing sales and the signing of a new OEM dealer in France.
DAKAR-2024 High Profile Event
In other activities, dynaCERT and our France distributor co-sponsored the French team, HoleShot Competition, a privateer team in Normandy France to support their MAN DAKAR Rally race truck at the 2024 Dakar Classic event in Saudi Arabia January 5th to 19th, 2024. This truck is fitted with a HydraGEN™ HG1 Unit that is designed to provide hydrogen and additional oxygen to the truck’s engine, extending their travel time between fill-ups, increasing torque and power while significantly reducing toxic emissions and their carbon footprint.
The DAKAR-2024 is considered “THE EVENT” among truck racing enthusiasts. The dynaCERT sponsorship is intended to further the Company’s world-wide brand exposure while enlarging the dynaCERT audience. Showcasing dynaCERT to trucking companies and fans world-wide is designed to enhance the rapidly growing awareness of HydraGEN™ Technology.
The DAKAR-2024 will promote the Company’s HydraGEN™ Technology to Automotive Federations with an existing acclaimed communication platform for European Markets. DAKAR-2024 warrants 4200 hours of TV broadcasting through 70 channels in 190 Countries with over 34 million viewed hours.
Advances in the Verra VCS Carbon Credit Initiatives of the Company
In November 2023, dynaCERT received from Earthood Services Pvt. Ltd., the positive final Assessment Report on Methodology for Improved Efficiency of Fleet Vehicles and Combustion Engines. This Assessment Report was one of the final steps required by Verra in accordance with the terms and conditions set out in the applicable program rules of Verra. The Assessment Report supports the Methodology which dynaCERT intends to use to roll out our Carbon Credit program in early 2024, validated under Verra’s VCS Program.
Strengthening of the Company’s Balance Sheet
In the Fourth Quarter of 2023, the management of the Company, supported by dealers in Canada in accredited brokerage firms, closed the first tranches for a total $3,855,233 of a $6,000,000 raise equity expected to close on or before January 19, 2024, thereby strengthening the Balance Sheet of the Company while reducing the Company’s Accounts Payable. Management welcomes its new investors and thanks the brokerage professionals that supported the Company in these efforts in what was a most difficult year in the financial markets especially for small cap stocks.
Repayment of the $2,000,000 Convertible Note Issued in February 2022
The Company raised funds in April 2023 by issuing a Convertible Note in the principal amount of $2,000,000 due December 31, 2023. This Convertible Note has now been repaid, with interest, by the Company, thereby reducing the Company’s debt obligations.
Collaboration with Cipher Neutron Inc.
In early 2023, the Company entered into a strategic collaboration agreement with a private company, Cipher Neutron Inc., which designs and commercializes globally a proprietary line of Green AEM Electrolysers and conducts R&D on its innovative Reversible Fuel Cells. Cipher Neutron’s wide-ranging successes in 2023 are supplementary to dynaCERT’s HydraGEN™ Technology and do not compete with the business of dynaCERT. The success of this collaboration is expected to evolve into a formal financial arrangement between dynaCERT and Cipher Neutron in 2024.
Addition of director Bruce Barnaby to the Board of Directors
In 2023, Mr. Bruce Barnaby joined dynaCERT’s board of directors. As a respected CPA, Mr. Barnaby is well-suited to serve as an independent director on the Audit Committee of the Board of Directors of the Company.
In 2024 the Company is looking to add additional strength to our board and management as we are entering a growth pattern with repeat sales globally and the launch of dynaCERT’s Carbon Credit Program expected in early 2024.
Ed Cordeiro, Director of Sales, Americas, of dynaCERT, stated, “In 2023, we have broadened dynaCERT’s reach in the USA and South America and have set the stage for business opportunities in 2024. Our dealers report a significant increased interest in hydrogen solutions and options for Carbon Reductions over previous years. We are entering 2024 with increased reception from our prospects and enthusiastic interest in our HydraGEN™ Technology.”
Jim Payne, President and CEO of dynaCERT, stated, “I would like to take this time to recognize all the efforts and hard work by our entire team, including directors, management, staff, shareholders, dealers and customers, that have supported us through these unprecedented times. I am so proud of the success we are seeing globally with our technology, when its benefits are so needed. dynaCERT is moving into a growth pattern like we have never seen, with repeat sales now happening globally. With this growth comes the challenge in expanding directors, management, staff and sales support. I feel proud and confident that, with our commercialized and proven product line, we are now helping improve many of today’s climate change requirements. Our products are designed to improve fuel economy and improve engine performance while achieving significant Carbon Emission Reductions and mitigating Greenhouse Gases (GHGs). By achieving such deliverables, our patented HydraGEN™ and HydraLytica™ product lines are helping companies today achieve their ESG goals of tomorrow while preparing to benefit in the future with our data driven Carbon Credits achieving world-wide recognition.”
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.
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, information relating to third party entities, including dealers, agents and clients, cannot be independently verified. 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. 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
Contacts
For more information, please contact:
Jim Payne, CEO & President
dynaCERT Inc.
#101 – 501 Alliance Avenue
Toronto, Ontario M6N 2J1
+1 (416) 766-9691 x 2
jpayne@dynaCERT.com
Investor Relations
dynaCERT Inc.
Nancy Massicotte
+1 (416) 766-9691 x 1
nmassicotte@dynaCERT.com