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.