dynaCERT TSX.V-DYA announced that Michael Christodoulou, the former President of Cummins Eastern Canada LP and Cummins Diesel of Canada, is joining the Advisory Board as a Business/Marketing Advisor.
Mr. Christodoulou has over 30 years of extensive experience and vast knowledge working with major North American trucking companies. He held the position of President and Principal of Cummins Eastern Canada LP for 15 years, Executive Director of PACCAR Business, Cummins Inc. and was President of Cummins Diesel of Canada for over seven years. Mr. Christodoulou has a superior track record within the trucking industry and has developed excellent industry affiliations with global transportation companies and all the major truck OEM’s.
Mr. Christodoulou was formerly on the Global Distributor Advisory Council for Cummins Power Generation, was the Chairman of the Canadian Association of Equipment Distributors, and the VP and Board Member of the Associated Equipment Dealers. He is a Member of the Canadian Trucking Alliance, and has been a member of the Ontario, Quebec and the Atlantic Provinces Trucking Associations. Mr. Christodoulou is a former member of Cummins Distribution Council and was the Co-Chair of Cummins Bus Council.
dynaCERT announces the receipt of $1 million from Mr. Christodoulou as a strategic partner in the business. This funding was a private placement of 1,176,471 units at a price of $0.85 per unit. Each unit is comprised of one common share in the capital of the Company and one-half of one common share purchase warrant, with each whole warrant being exercisable into one Common Share at a price of $1.25 for a two-year period from the date of issuance. The warrants include an acceleration clause to the effect that if at any time after four months and one day following the issuance of the warrants, the closing trading price of the Common Shares on the TSX Venture Exchange (the “Exchange”) is greater than $2.00 per Common Share for a period of ten consecutive trading days, then dynaCERT may give notice to the holder of the warrants of its intention to force the exercise of the warrants, following which the holder thereof shall have a period of 30 days to exercise the warrants, failing which the warrants will automatically expire.
dynaCERT (TSX.V-DYA) (OTCQB-DYFSF) is pleased to announce that it has received approval for an OTCQB listing making it easier for shareholders in the United States, as well as potential investors in the United States, to invest in dynaCERT.
The OTCQB Marketplace is for developing U.S. and international companies. Having an OTCQB listing increases investor confidence by having greater information available through the OTC Disclosure & News Service, transparent prices for investors through full depth of book with Real Time Level 2 quotes, knowing that Companies are current in their reporting and will undergo continuous verification and management certification process. Investors can find Real-Time Level 2 quotes and market information for dynaCERT on www.otcmarkets.com.
dynaCERT shares will continue to be traded on the TSX Venture Exchange under its existing symbol DYA.
Jim Payne, President and CEO of dynaCERT, states, “Various groups have been asking if we are trading on the OTCQB and dynaCERT is pleased to have been accepted and is trading at the opening of the market today. Given the significant market and potential global demand of dynaCERT’s HydraGenTM technology to reduce carbon emissions and fuel consumption, assisting in the world’s fight against climate change, we feel the OTCQB listing will create greater visibility allowing for a much larger potential shareholder base and enhanced liquidity.”
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 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.
dynaCERT (TSX.V-DYA) (OTCBB-DYFSF) announced the following:
- The lease and build out of an 8,000 sq ft expansion for assembly of the HydraGen for the trucking industy, with a production capacity of 2,000 units/month based on an 8 hour shift
- In discussions for funding through both federal and provincial government grant and loan programs for new equipment and additional manpower for the new facility
- Current facility will be converted to R&D and production for shipping, rail and large stationary power generation products. There is a planned financing program regarding these emerging markets and are working with the Government and Port supports. With these new and ongoing government grant applications, dynaCERT has adopted to adhere to the Ontario Government requirements-validation process to ensure qualification under any of the Federal Government programs
- dynaCERT is working with several trucking firms in Ontario and has HydraGen units and data loggers installed on 2012-2016 transport trucks, collecting data to complete the new algorithms for the new Smart ECU
- dynaCERT’s engineers and scientists are working with the RMF Design & Manufacturing team of electronic engineers along with Diesel & Electronic Technicians who are consultants from two major OEM companies to finalize the electronic interface of the “Smart ECU” and filing patents on these. The technology of the new “Smart Ecu”, or brain, will resemble a smart phone where it is always learning and will:
- communicate with the onboard computer along with reading, collecting and storing data of fuel efficacy and emissions
- enable remote access by both dynaCERT and end users
- provide monitoring for Carbon Credits and GPS tracking
- Entered into a contractual agreement with a company representing dynaCERT’s product suite within the country of India with the intent to ship and sell products with the option to purchase a licensing agreement for manufacturing with an ongoing royalty commitment per unit. India represents about 1.5 million buses, 5 million trucks and numerous diesel power plants and has recently announced requirements to meet more stringent emission reductions.
- dynaCERT has partnered with Global Access Capital Corp to provide lease options for dynaCERT’s technology customers. Go to: www.globalaccesscapital.ca or www.dynacert.com for more information.