TORONTO, Aug. 16, 2018 (GLOBE NEWSWIRE) -- dynaCERT Inc. (TSX VENTURE: DYA) (OTCQB: DYFSF) (DAX: DMJ) ("dynaCERT" or the "Company") provides the following update:
European Homologation
The KBA Homologation Certification process in cooperation with TUV NORD and TUV SUD in Germany continues. Initially the Electro-Mechanical Interference (i.e. EMI) testing was approved by the TUV SUD. dynaCERT has now received a test report dated May 25, 2018 indicating results of this phase of the test which granted a required approval to dynaCERT GmbH, a wholly-owned subsidiary of dynaCERT Inc. towards eventual grant of Homologation.
Material inspection as well as mount testing by TUV SUD of the HG1 unit on a truck, which requires full impact and drop-load testing to Euro Code, has also been successfully completed, and awaiting a final report.
Testing to obtain an ABE (General Operating permit) for on-road use in Europe required an operating HydraGEN™ unit mounted directly onto an operating vehicle. For this phase, the Company obtained a special single use permit to allow a HG1-45 unit onto an on-road truck which meets the Euro 6 emissions standards. The baseline validation testing on this truck was completed by TUV NORD in June 2018 on a dynamometer. Subsequently, the truck was used in commercial operation for approximately 40 days of use before undertaking the next test.
The final performance validation testing by TUV NORD for fuel savings and carbon emission reduction for the ABE on-road certification after the break-in period took place on a dynamometer in July 2018. Initial dynamometer results, which are not yet official, have exceeded the Company’s expectations as well as surpassing prior PIT Group results. The unusual strength of these test results, in respect of fuel savings and emission reductions, has sparked a decision by the parties involved to not release any such information until a final comprehensive report is officially released by the testing lab.
In order for dynaCERT to complete all the validations for Homologation, a PEMS (“Portable Emission Measurement System”) Test, the last and final stage of testing, which was on-road, has now been completed. A positive final report from TUV NORD is expected by the Company.
European International Official Launch
Receipt of final reports and homologation are expected to occur prior to dynaCERT’s official European launch of its HydraGEN™ Technology at the IAA Commercial Vehicles International Exhibition in Hanover, Germany, September 20 to 27, 2018.
The International Automobile Exhibition, IAA, is the world's most important trade fair for mobility, transport and logistics. Various special events and lectures, among other things on the topics of "Efficiency in Road Transport" and "Financial services in the commercial vehicle business" will be featured.
On the whole the organisers welcome, on the eight days of the fair, about 2,000 exhibitors from 52 countries and 248,000 visitors at the IAA exhibition. dynaCERT welcomes visitors at its booth in Hall 11, Booth F12 at the Exhibition.
Top 50 Innovative Companies
dynaCERT is also pleased to announce that it has received the Certificate of Excellence by the Silicon Review as a 2018 Awardee of the fifty (50) Top innovative Companies to Watch, which is an annual listing that celebrates not only the glory of recipients’ highly valued products and services but also recognizes their contribution in business and technology marketplace. Accordingly, dynaCERT is featured in a full interview of President & CEO, Jim Payne, in its July 2018 issue.
Enrico Schlaepfer, Vice President of Global Sales, stated, “Europe, the Middle East and Africa (EMEA) is, without question, a very significant market potential for dynaCERT’s HydraGENä Technology. In 2018, our team has improved our products to better suit our customer needs and we are looking forward to launching in Hanover. The emission reductions are of vital importance in Europe as many governments, local and state, are considering legislation around diesel transport vehicles, making our product launch a very timely opportunity.”
About dynaCERT Inc.
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
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, 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 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 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
dynaCERT Inc.
#101 – 501 Alliance Avenue
Toronto, Ontario M6N 2J1
(416) 766-9691 x 2
jpayne@dynaCERT.com
Investor Relations
dynaCERT Inc.
Nancy Massicotte
(416) 766-9691 x 1
ir@dynaCERT.com