Certain major shareholders including directors of dynaCERT (TSX.V-DYA) (OTCBB-DYFSF) have entered into a formal strategic Voluntary Lock-Up Agreement for a total of over 55,000,000 shares for a term of 180 days.
The Voluntary Lock-Up Agreement stipulates that these shareholders shall not assign, deal in, pledge, sell, trade or transfer in any manner whatsoever, or agree to do so in the future, any of the shares, or any beneficial interest in them, on or before March 31, 2017 (the “Expiry Date”).
dynaCERT’s President and CEO, Jim Payne states, “Given the significant progress that has been achieved in recent months, we felt that a Voluntary Lock-Up Agreement would demonstrate to shareholders and potential investors the commitment and confidence that management, directors and certain major shareholders have in the future of dynaCERT.
Third Party Testing – As The Company, along with third party engineers, have now completed reviewing and analyzing the data from the 3rd party testing at the University of Ontario Institute of Technology of their flagship HydraGenTM product for Class 8 trucks and a formal report is forthcoming.
Mr. David Bridge has been appointed as COO of dynaCERT (TSX.V-DYA) (OTC-DYFSF), effective immediately. Mr. Bridge has an extensive background in managing technology operations and multi-million dollar corporate ventures such as AMD, RBC Financials, Virgin Mobile and Blackberry. As a senior IT leader at Virgin Mobile and Blackberry, he led a high performance teams that designed and supported large scale enterprise wide systems.
Under the supervision of Mr. Bridge, dynaCERT worked closely with RMF Design & Manufacturing along with diesel and electronic technical experts to finalize the electronic interface, design & development of the state-of-the-art “Smart” ECU (Electronic Control Unit), which is the brain of the HydraGenTM unit. The unit can read, collect and transmit and store data pertaining to fuel efficacy and emissions reductions by communicating with the engine’s onboard computer, learning and altering the flow of gases produced and introduced to enhance combustion. The unit also has GPRS capability for remote access and allows tracking and monitoring of Carbon Credits.
dynaCERT (TSX.V-DYA) (OTC:DYFSF) is scheduled to occupy the approximately 8,000 sq.ft. lease expansion facility on October 1, 2016. The lease payments will commence on possession date. This facility is designed with a monthly capacity of 2,000 units per eight-hour shift for the assembly of the HydraGenTM units.The Company is working with the Government and Port support as well as specific consortium members to assist in the conversion of the current manufacturing facility to R&D and production of the next generation HydraGenTM units which will be designed for shipping, rail and large stationary power generation.
Third party testing of the HydraGenTM unit for Class 8 trucks has been completed and a 550 page document of valuable data has been received from the University of Ontario Institute of Technology where the tests were done for both fuel savings and carbon emission reductions. A formal report will be completed soon.
dynaCERT has entered into a formal strategic partnership with Lyte Energy Inc., located in Mississauga, Ontario to promote, market and distribute our HydraGen products globally. Lyte Energy is a Canadian company specializing in providing green energy solutions incorporating hydrogen generation, hydrogen storage and hydrogen fuel cell technologies.
dynaCERT reported that they faced certain challenges with the sophisticated sensors and electronic controls on newer trucks and communications with the initial 50 unit purchase order. They are now confident that, through a collaborative effort by their team of engineers, professional consultants and fleet owners, they have overcome these challenges via electronic programming of their new “Smart ECU” and are closely monitoring these trucks along with data collection to enable the company and third party to finish validation. Once completed, and with a minimum of 8% in fuel savings validated, the sales of these units will be completed along with purchase orders for an additional minimum pre-arranged percentage of their fleets.
dynaCERT is filing patents for their wholly owned Intellectual Property with their “Smart ECU” which is designed with “007” technology. If attempts to open or tamper with the sealed ECU, it will self-destruct to ensure the protection of what they believe to be their most valued IP.
dynaCERT is monitoring and testing the first new compact unit that was installed on a 2.0 liter turbo diesel import for emissions with the company’s recently updated and calibrated computerized emission testing equipment. This will be an ongoing process and monitored by computer generated read outs of O2, CO2, NO, NO, NO2, NOx, CxHy, and SO2.