OSHAWA, Ontario, May 18, 2012 (GLOBE NEWSWIRE) -- Dynamic Fuel Systems Inc. (TSX-V:DYA) ("Dynamic" or the "Corporation") is pleased to make the following announcements:
CARB UPDATE
The Management of Dynamic wishes to clarify the following portion of the February 16th release that states: "the final letter has been sent to CARB and CARB has 30 days to respond to the test results".
California Environmental Engineering LLC (CEE), the US government accredited facility responsible for the testing of the Corporations HydraGen™ unit advised Dynamic that CARB has responded to those test results, with a request for additional clarification on certain aspects of the submission in support of Dynamic's application for certification of the HydraGen™ retrofit product for the Detroit Diesel Series 60 family of engines. CEE has informed Dynamic that the additional information has been delivered, satisfying the requests and the CARB certification process continues.
Anyone interested in reviewing the latest information submitted to CARB may do so by visiting the Corporations website www.dynamicfuel.com and clicking on the link "third party verification". Dynamic will have this information posted as soon as possible.
Dynamic is pleased with the progress made to date and fully supports the CARB Certification process. Management will provide updates on this initiative to shareholders and the general public as they become available.
About Dynamic Fuel Systems Inc.
Dynamic Fuel Systems Inc. is an Oshawa, Ontario; Canada based energy Sector Company engaged in the sales & marketing, manufacture, distribution, installation and support of a transportable hydrogen generator aftermarket product targeted for use in the heavy tractor trailer industry.
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, includes 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.