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DynaCERT Inc
Symbol DYA
Shares Issued 239,128,474
Close 2017-10-23 C$ 0.69
Market Cap C$ 164,998,647
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DynaCERT files $47.7M claim for faulty electronics

2017-10-24 08:51 ET - News Release

Mr. Murray Payne reports

DYNACERT PROVIDES CORPORATE UPDATE

DynaCERT Inc. has provided an update on various corporate matters.

Litigation matters

DynaCERT 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 redesign of the electronic system began in early June and was completed in late August. The company has shifted component production to another supplier.

Operations

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 the company expects to make available for shipping its 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.

The company's Smart ECU systems, its electronic control units that power its 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 the company 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/offroad and agricultural applications including the worldwide diesel trucking industry. The data collected with the company's proprietary ECUs 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 the company's 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 under way 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 Sept. 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 TUV Nord Group, the largest German safety organization. For this purpose, the DynaCERT board has approved the creation of DynaCERT GMBH as a subsidiary LLC company in Germany, to be wholly owned by DynaCERT. This process is expected to be the key final regulatory requirement to permit sales in the European market. TUV 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.

Jim Payne, president and chief executive officer of DynaCERT, commented: "I congratulate our [chief operating officer], Robert Maier and our team at DynaCERT for their professionalism and dedication, as well our loyal clients for their close collaboration, and together helping DynaCERT make our products robust and effective for a world that requires working solutions to the enormous challenges of climate change. We are relentlessly pursuing our long-standing corporate mission to help the world reduce its carbon footprint in a most effective manner."

About DynaCERT Inc.

DynaCERT manufactures, distributes and installs carbon emission reduction technology for use with internal combustion engines. Its patent-pending technology creates hydrogen and oxygen on demand through electrolysis and supplies these additives through the air intake to enhance combustion, resulting in lower carbon emissions and greater fuel efficiency. The company's technology is currently in use with on-road applications.

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