dynaCERT Inc. Announces Pilot Project of the Hydragen(TM) Technology With Stationary Power Generation
07 Octubre 2013 - 10:46AM
Marketwired Canada
dynaCERT Inc. (TSX VENTURE:DYA) ("dynaCERT" or the "Corporation") announces the
execution of a collaboration agreement with a private corporation that is a
generator, distributor and transmitter of electric energy in a Caribbean nation
(hereinafter, the "Pilot Project Partner"), pursuant to which the parties have
agreed upon the terms of a pilot project to test the Corporation's hydrogen
technology on a 9R32 Wartsila generator. Due to confidentiality restrictions,
the specific identity of the Pilot Project Partner cannot be disclosed at this
time
The Pilot Project has been structured into 3 Phases and is being carried out in
a joint effort with finances, equipment and manpower being provided by dynaCERT
and the Pilot Project Partner.
-- 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 the last week of October 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 is due within 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.
-- Phase 2 will consist of the development and testing of a HydraGen(TM)
prototype for the purposes of long-term testing and operation on a 9R32
Wartsila generator. Provided that the fuel economy targets from Phase 1
are satisfied and the Pilot Project proceeds to Phase 2, this prototype
will be built to scale at the Corporation's facilities in Toronto and
designed to deliver ratios of hydrogen and oxygen determined in Phase 1.
Estimated cost of Phase 2 is CDN$426,156.00, with cost allocations of
CDN$121,868.00 to the Pilot Project Partner (50% of which is payable at
the start of Phase 2 and the balance being due within 30 days of the
first payment) and CDN$304,288.00 to dynaCERT. Phase 2 is estimated to
occur over a timeframe of approximately 3 months following Board
approval in respect of Phase 1 completion.
-- Phase 3 will consist of longer term testing and data collection of the
HydraGen(TM) prototype that is developed in Phase 2 within the context
of the Pilot Project Partner's working environment. Estimated cost of
Phase 3 is CDN$74,401.00, with cost allocations of CDN$41,683.00 to the
Pilot Project Partner (50% of which is payable at the start of Phase 3
and the balance being due upon project completion) and CDN$32,718.00 to
dynaCERT. This Phase is estimated to occur over a timeframe of
approximately 4 months following Board approval in respect of Phase 2
completion.
The Pilot Project Partner has developed its relationship with the Corporation
through Michael Garvin and Rick Tonita of Global Partners, and the Corporation
would like to acknowledge their roles and efforts as we continue with activities
in line with our Mission Statement.
About Global Partners
Global Partners is an international consulting and technology licensing company.
Global Partners consults in the area of strategic planning and organizational
execution to international corporations. The principals of Global Partners also
owned Active Marketing Ltd, domiciled in the Isle of Man. Over a fifteen year
period Active Marketing commercialized four technologies. Each of these
technologies was developed from a concept to a commercial product and then
achieved international market penetration.
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 for the
purpose of yielding lower carbon emissions and greater fuel efficiency. Our
technology is currently in use with on-road applications and is in development
for other applications, such as power generation. More information can be found
at www.dynacert.com.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
dynaCERT Inc.
Jonathon Shepherd
General Manager
(416) 766-9691x605
jshepherd@dynacert.com
dynaCERT Inc.
Investor Relations
(416) 766-9691
ir@dynacert.com
www.dynacert.com
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