Mr. Jim Payne reports

DYNACERT AND CIPHER NEUTRON SIGNS MOU WITH SAFE ENERGY AND ASTEC IN INDIA, EUROPE & MIDDLE EAST

DynaCERT Inc. and Cipher Neutron Inc. have concluded a memorandum of understanding with Safe Energy General Trading LLC, United Arab Emirates, and Astec Valves and Fittings Private Ltd., India, whereby DynaCERT and CN will further market state-of-the-art hydrogen technology, including the AEM electrolyzer technology, to businesses, utilities and governments in India, Europe and the Middle East in support of Astec's robust footprint in these regions.

The MOU also provides that CN and DynaCERT will be advancing the testing of Astec's proprietary products for use in hydrogen electrolyzers and other hydrogen-related technologies of CN and DynaCERT to develop superior, more efficient electrolyzers and lower-cost green hydrogen for industrial applications and clean energy storage and generation to meet the particular requirements of Astec's clients.

Critical for reliability and safety, high-pressure high-volume green hydrogen plants utilizing CN and DynaCERT's AEM electrolyzer technology will require experienced engineered solutions such as those of Astec that specialize in high-pressure flow technologies and joint reductions.

About Astec Valves and Fittings Private Ltd.

Astec is an engineering solution provider that specializes in high-pressure flow technologies and joint reduction for industries such as green hydrogen, railway, automotive, and oil and gas. The company was founded in 1965, and has since gained the trust of leading energy and infrastructure companies such as Reliance, Adnoc, Siemens and many others. The key regions it focuses on include India, the Middle East/North Africa and Europe.

In a recent study with Reliance Industries executing a $12-billion (U.S.) petrochemical plant, Astec eliminated over 50 per cent of the joints -- that is, 500,000 joints were designed out of the system, making it safer and ecofriendly.

Respected regular clients of Astec include Adnoc, PDO, KNPC, Emerson, Yokogawa, Honeywell, ABB, GE, Rolls Royce, BG, BP, Reliance, Essar, Cairn, EIL, Samsung, Doosan, Hyundai, Toyo, Aker, Petrofac and many more.

The MOU

The objective of the non-binding memorandum of understanding is:

1. To promote interaction between Astec, CN and DynaCERT in mutually beneficial businesses in Europe, the Middle East and India, including Dubai;
2. To promote trade of anion-exchange-membrane (AEM) electrolyzers and other hydrogen-related technologies in the region;
3. To explore possible engineering, procurement and construction (EPC) of green hydrogen projects in the region;
4. To explore ways whereby Astec may distribute on a non-exclusive basis products of CN and DynaCERT in the region;
5. To assist each other in exploring green hydrogen strategies with policy-makers in the region;
6. To explore the possibility of provisioning state-of-the art green hydrogen technology and products to be manufactured and engineered jointly by Astec, CN and DynaCERT in the region;
7. To seek mutually agreeable investment in local manufacturing in the region and for local demand under licence, where applicable.

CN, DynaCERT and Astec will collaborate regarding the following:

1. The purchase and marketing of CN and DynaCERT's jointly developed AEM hydrogen electrolyzers by Astec in the region;
2. Advancing the testing of Astec's advanced proprietary products for use in hydrogen electrolyzers and other hydrogen-related technologies of CN and DynaCERT with a view to developing superior, more efficient electrolyzers and lower-cost green hydrogen for industrial applications and clean energy storage and generation;
3. Any other appropriate mode of interaction that may be further agreed upon between DynaCERT, CN and Astec.

Connecting Green Hydrogen MENA 2023

Safe Energy and Astec group companies are leading exhibitors at the Connecting Green Hydrogen MENA 2023 in Dubai, featuring the AEM technology of CN and DynaCERT.

Connecting Green Hydrogen MENA 2023 (CGHM2023) is at the forefront of expediting the development of green hydrogen in the Middle East and North Africa, gathering policy-makers, power producers, investors, suppliers and technical service providers internationally to build business partnerships.

Dr. Kiranbir Singh Kohli, managing director of Astec, stated: "We are very impressed with the AEM electrolyzer technology and accomplishments of Cipher Neutron in collaboration with DynaCERT to deliver low-cost green hydrogen at scale. Through this partnership, we are looking to further expand their developments using Astec and Safe Energy's engineering and growth teams to revolutionize the green hydrogen industry in India, the Middle East and Europe."

Gurjant Randhawa, MEng, PEng, president and chief executive officer of Cipher Neutron, stated: "Cipher Neutron and DynaCERT focus on lowering long-term capital and operating costs of producing green hydrogen across numerous commercial and industrial applications, including in Dubai, as well as in India and throughout the Middle East. Our MOU with Astec opens the door to cross-industry collaboration where advanced scientific knowledge and practical engineering solutions can be shared and optimized."

Jim Payne, president and chief executive officer of DynaCERT, stated: "DynaCERT is proud to expand its relationship with Astec, a leader in high-pressure flow technologies used in conjunction with AEM electrolyzers being developed jointly by CN and DynaCERT. Advances that Astec is fostering with its close government relationships and in Dubai's growing green hydrogen industry and in Europe, the Middle East and India, especially in engineering, procurement and construction, is important for the world economy and consistent with the collective CN and DynaCERT strategy of establishing a very strong position to become a global leader of the hydrogen economy, not just with AEM electrolyzers, but also in many green hydrogen infrastructure projects."

About DynaCERT Inc.

DynaCERT manufactures and distributes carbon emission reduction technology along with its proprietary HydraLytica Telematics, a means of monitoring fuel consumption and calculating greenhouse gas emission savings designed for the tracking of possible future carbon credits for use with internal combustion engines. As part of the growing global hydrogen economy, its 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. Its 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, and mining and forestry equipment.

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