TORONTO, July 5, 2012 (GLOBE NEWSWIRE) -- Mr. Jim Payne, CEO of Dynamic Fuel Systems Inc. (TSX-V:DYA) ("Dynamic" or the "Corporation"), is pleased to announce the appointment of Mr. Valdis Martinsons M.A.Sc, P.Eng to the Corporation's Board of Directors.
Prior to commencing his private consulting activities in February of 2011, Mr. Martinson held a number of senior positions throughout his career including;
- Director, Information Technology at ATI Technologies Inc. (one of the world's largest graphics chip and board companies),
- Chief Information Officer at Research in Motion of Waterloo Ontario,
- Chief Information Officer at Virgin Mobile, Canada, and
- Chief Operating Officer at IT Methods of Toronto where he acted as a consultant to numerous C-Suite executives.
"I am excited to be joining the team of Directors at Dynamic. This Company has made great progress recently both in terms of its product platform and the rollout of its business model. I look forward to contributing in whatever way I can to assist management in meeting its future business objectives," stated Mr. Martinsons.
"I have firsthand knowledge of the contributions that Valdis has made to the companies that have availed themselves of his expertise," notes Payne. "I look forward to working with him at the Board level as we set out to improve our technology platform and broaden our market opportunity."
"Technology in the form of electronics and software will play increasingly important roles in the development of our technologies and business strategies," added Grove Bennett, President of Dynamic. "Valdis has the experience and track record that should prove invaluable as we build our business."
About Dynamic Fuel Systems Inc.
Dynamic is an energy sector Clean-Tech Company focussed exclusively on the exploitation of the intellectual property developed by Dynamic or that which it has exclusive, worldwide and perpetual license rights. Products offered by Dynamic are intended to reduce harmful emissions and improve fuel economy in large displacement diesel engines.
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.