Mr. Jim Payne reports

CIPHER NEUTRON, DYNACERT'S PARTNER, RECEIVES INITIAL PURCHASE ORDER FROM KUBER GROUP IN AFRICA AND ENTERS INTO MOU TO DEPLOY CIPHER NEUTRON'S AEM ELECTROLYSERS TOTALLING 10 MEGAWATTS OF CAPACITY

DynaCERT Inc.'s AEM (anion exchange membrane) green electrolyzer partner, Cipher Neutron Inc. (CN), has received an initial purchase order for a 10-kilowatt AEM electrolyzer stack and signed a memorandum of understanding with the Kuber Group Africa.

The AEM green hydrogen electrolyzer stack will be manufactured in DynaCERT's production facilities in Toronto pursuant to the collaboration agreement between DynaCERT and Cipher Neutron dated Feb. 17, 2023. In addition to having options to purchase up to the current 50 per cent of equity in Cipher Neutron, DynaCERT also owns half of the AEM green electrolyzer technology that is being developed by Cipher Neutron.

Projects totalling 10 megawatts

The memorandum of understanding (MOU) provides for the promotion and increase of the use of AEM electrolyzers supplied by CN in jurisdictions where Kuber has an established business footprint and the fulfilment and execution of purchase orders from Kuber of 10 megawatts of CN's AEM electrolyzers for multimegawatt capacity projects to be secured by Kuber in Ghana and Nigeria.

Further collaborations in Africa

The MOU also proposes the collaboration between Kuber and Cipher Neutron for rapidly advancing the large multimegawatt hydrogen projects secured by Kuber in Africa with leading state-of-the-art AEM hydrogen electrolyzers supplied by Cipher Neutron for industrial applications, clean energy storage and power energy generation required by Kuber and its clients.

About the Kuber Group

Kuber is an infrastructure development group headquartered in Ghana and has expanded and established itself in the following countries: Ghana, India, Nigeria, Togo, Benin, Niger, Sierra Leone, Portugal, the United States and the United Kingdom.

Kuber Power Africa

Kuber Power Africa, one of the many subsidiaries of the Kuber Group, is a private power plant development company established to focus on independent power generation in Africa. The company has entered into an agreement with the Electricity Company of Ghana to finance and develop a 200-megawatt combined-cycle thermal power plant in Ghana as an independent power producer. The company has also been granted a generation licence by the Energy Commission of Ghana to build and operate a 400-megawatt wholesale electricity supply facility at Miotso in the Ningo-Prampram district of Ghana.

Cipher Neutron's advanced AEM electrolyzers are intended to be used to produce green hydrogen in the power generation sector and other similar projects in the African continent where the Kuber Group's initiatives are focused.

Raj Kalra, chairman of the Kuber Group, stated: "Cipher Neutron's AEM technology fits perfectly with our ongoing hydrogen projects across Africa. We are delighted to launch PFAS-free [perfluoroalkyl and polyfluoroalkyl substances] and PGM-free [platinum group metal] disruptive AEM electrolyzer technology in the African continent to foster the greener and more sustainable future of Africa and the rest of the world. Kuber Group has a long history in power generation with our combined-cycle thermal power plants and now we welcome the opportunity to be a part of this transition to green hydrogen economy."

Gurjant Randhawa, president and chief executive officer of Cipher Neutron, stated: "Cipher Neutron welcomes the strategic collaboration with the Kuber Group on its ongoing energy projects. We commend Kuber Group for its leadership in green hydrogen adoption. Cipher Neutron supports the Kuber Group belief that carbon emissions and all other harmful impacts on our environment can be reduced drastically in Africa by deploying CN's green hydrogen electrolyzers."

Jim Payne, president and chief executive officer of DynaCERT, stated: "DynaCERT is pleased with the partnership with the Kuber Group and applauds Cipher Neutron and its team with the exceptional advancements of this technology. This positions Canada, Cipher Neutron and DynaCERT among recognized disruptive leaders globally in the rapidly growing current $150-billion hydrogen market. The world needs the ability to produce affordable green hydrogen or high-pressure, high-volume hydrogen, in a sustainable way without the use of any polluting rare earths or precious metals with a product that has a longer lifespan than current technologies."

About Cipher Neutron Inc.

Cipher Neutron is a rapidly growing disruptive technology company focused on AEM electrolyzers for green hydrogen production and reversible fuel cells for power generation and energy storage solutions. Cipher Neutron is a global group of scientists, engineers, technology developers, experts in hydrogen technology, investment bankers and people who have worked in hydrogen for decades. Cipher Neutron's innovative products, such as AEM electrolyzers and reversible fuel cells, have unique advantages over other green hydrogen production, power generation and energy storage solutions currently available in the global market.

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 GHG (greenhouse gas) emissions savings designed for the tracking of possible future carbon credits for use with internal combustion engines. As part of the growing global hydrogen economy, the company's 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. The company's 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, mining and forestry equipment.

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