TORONTO--(BUSINESS WIRE)--dynaCERT Inc. (TSX: DYA) (OTCQX: DYFSF) (FRA: DMJ) ("dynaCERT" or the "Company") provides an update pursuant to its Press Release dated May 26, 2023 regarding the purchase order of its HydraGEN™ Technology Units destined for Guyana (the “Press Release”). (See Press Release dated May 26, 2023)
The recipient of these HydraGEN™ Technology Units is a logistics company located in Guyana (the “Purchaser”). The Company remains ready to fulfill all purchase orders contemplated in the Press Release. Deliveries of certain HydraGEN™ Units are delayed pending further notice by either the Purchaser or the broker, acting as a conduit, that all outstanding issues described below have been resolved to everyone’s satisfaction.
Various postponements impacting delivery dates have occurred despite that the Company had received the initial payment in full for exactly the wholesale price of the first ninety-three HydraGEN™ Units. Since receiving this initial payment, the Company was advised and believed that issues causing delays were all to be resolved in short order but some issues remain outstanding as of this date.
The Company had been requested to ship a certain number of HydraGEN™ Units as stipulated in the Press Release, but the Company has now been obliged to delay the delivery of all but two such HydraGEN™ Units. To date, the Company has only shipped such HydraGEN™ Units to Guyana because the Company has been awaiting from the Purchaser, through a representative, certain usual information regarding the specific electric voltage, engine information, On Board Diagnostic port types, and other data pertaining to the vehicles and equipment on which the HydraGEN™ Units of the Company are to be installed. Such information is necessary for the final packaging and shipping of the HydraGEN™ Units. The Company is ready to ship such HydraGEN™ Units pending the above required information from the Purchaser or representatives. The Company has also been advised by representatives that the two HydraGEN™ Units that were delivered are still awaiting clearing from Guyanese customs by an agent of the Purchaser. Issues regarding the transfer of payments from Guyana for the HydraGEN™ Units that were ordered are also pending.
Jim Payne, President & CEO of dynaCERT, stated, “The extraordinary global endorsement of dynaCERT allows the Company to engage with customers in new markets with the assurance that the Company's HydraGEN™ Technology can make a significant contribution to the Sustainable Development Goals of the United Nations. As a Canadian company operating internationally, we have learned to unwearyingly respect the normal business challenges that global climate change sometimes entail. We readily continue to support the climate improvement goals of the nation of Guyana and look forward to welcoming all business professionals involved in our imperative quest for a better sustainable future for everyone, including those of all our existing clients and potential clients in Guyana, with no exceptions.”
About dynaCERT Inc.
dynaCERT Inc. manufactures and distributes Carbon Emission Reduction Technology along with its proprietary HydraLytica™ Telematics, a means of monitoring fuel consumption and calculating GHG emissions savings designed for the tracking of possible future Carbon Credits for use with internal combustion engines. As part of the growing global hydrogen economy, our patented technology creates hydrogen and oxygen on-demand through a unique electrolysis system and supplies these gases through the air intake to enhance combustion, which has shown to lower carbon emissions and improve fuel efficiency. Our technology is designed for use with many types and sizes of diesel engines used in on-road vehicles, reefer trailers, off-road construction, power generation, mining and forestry equipment. 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. 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 of 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. In particular, forward-looking information in this press release includes, but is not limited to the future delivery of HydraGEN™ Technology Units under the purchase order, Bristol & Bristol Incorporated, the Purchaser, the broker acting as a conduit and the nation of Guyana. 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.
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On Behalf of the Board
Murray James Payne, CEO
