dynaCERT (TSX.V-DYA OTCQB:DYFSF) reports that it has filed a claim in Ontario Superior Court for damages in the amount of approximately $47.7 million to recover costs, lost revenue and damages associated with the non-functioning electronics from a previous supplier and the resulting delay in production and deliveries. A re-design of the electronic system began in early June and was completed in late August. The Company has shifted component production to another supplier.
HG1 units advance in their commercial stage. All units in the field have been updated, or are in the process of being updated, with the most recent technology, including the latest software, to ensure optimum performance. Updated HG1 units are available for shipping by dynaCERT and we expect to make available for shipping our HG2 units near the end of this year.
dynaCERT reports that the testing of the SMART ECU2 has now been completed and regulatory approvals were successfully obtained for the use of our new exclusive technology for use throughout all of North America.
Our Smart ECU systems, our Electronic Control Units that power our proprietary HydraGEN™ line of products that target reduction of harmful gas emissions and improved fuel consumption, incorporate dynaCERT’s proprietary ECU technology, which has been developed by us after years of extensive trials and research. Meaningfully, dynaCERT now has an approved state-of-the-art capability to accurately track, measure and report on greenhouse gas emissions associated with many proponents operating in a diverse set of trades such as Residential, Industrial, Commercial, Power Generation, Railway, Marine, Aviation, On/Off Road and Agricultural applications including the world-wide diesel trucking industry. The data collected with our proprietary ECU’s can be used to determine the amount of greenhouse gas credits or offsets with a view to certify carbon credits in a scientific manner and moreover, do so quickly and in opportune time.
Initially, the newest miniaturized ECU2 version of our ECU line of technology, will be utilized in dynaCERT’s new HydraGEN™ HG2 units. Production of the new HydraGEN™ HG2 unit is targeted to be underway promptly as procurement of parts and equipment have begun for the new HG2 unit.
PIT Group testing of HydraGEN™ technology continues. Following the announcement dated September 21, 2017, the break-in period and testing by PIT for fuel consumption is expected to be completed by the first week of November and a report received by mid-November. Once received and confirmed by PIT, these results are expected to be announced by dynaCERT.
European Market update:
In Europe, dynaCERT is in the process of Homologation Certification in Germany working with TÜV NORD GROUP, the largest German safety organization. For this purpose, the dynaCERTboard has approved the creation of dynaCERT GMBH as a subsidiary LLC company in Germany, to be wholly-owned by dynaCERT Inc. This process is expected to be the key final regulatory requirement to permit sales in the European Market. TÜV NORD GROUP is a technical service provider with worldwide activities. Founded in 1869 and headquartered in Hanover, Germany, the Group employs more than 10,000 people in more than 70 countries of Europe, Asia, America and Africa.