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TORONTO--(BUSINESS WIRE)--Mar 14, 2023--
dynaCERT Inc. (TSX: DYA) (OTCQX: DYFSF) (FRA: DMJ) ("dynaCERT" or the "Company") and Cipher Neutron Inc. (“CN” or “Cipher Neutron”) are pleased to announce that they have concluded a Memorandum of Understanding (the MOU”) with Safe Energy General Trading L.L.C., UAE and Astec Valves and Fittings Private Ltd., India (hereafter together referred to as “Astec”), whereby dynaCERT and CN will further market state-of-the-art Hydrogen technology, including AEM Electrolyser 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 Electrolysers and other hydrogen related technologies of CN and dynaCERT to develop superior, more efficient Electrolysers 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 utilising CN & dynaCERT’ s AEM Electrolyser technology, will require experienced engineered solutions such as those of Astec that specialize in high-pressure flow technologies and joint reductions.
Astec
Astec is an engineering solutions provider that specializes in high-pressure flow technologies and joint reduction for industries such as green hydrogen, railway, automotive, and oil & 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 USD 12 Billion petrochemical plant, Astec successfully eliminated over 50% of the joints, i.e. 500,00 joints were designed out of the system, making it safer and eco-friendly.
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:
CN, dynaCERT and Astec will collaborate regarding the following:
Connecting Green Hydrogen MENA 2023
Safe Energy & 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 policymakers, power producers, investors, suppliers, and technical service providers internationally to build business partnerships. Please See: https://www.mena.gh2events.com/
Dr. Kiranbir Singh Kohli, Managing Director of Astec, stated, “We are very impressed with the AEM Electrolyser 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, M.Eng., P.Eng., President and CEO 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 CEO of dynaCERT, stated, “ dynaCERT is proud to expand its relationship with Astec, a leader in high pressure flow technologies used in conjunction with AEM Electrolysers being developped 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 Electrolysers, but also in many Green Hydrogen infrastructure projects."
About Astec
Please see: Safe Energy General Trading L.L.C, UAE ( https://safeenergy.tech/ )
Please see: Astec Valves and Fittings Private Limited, India ( http://www.astecflow.com/ )
About Cipher Neutron
Please see: www.cipherneutron.com
About dynaCERT Inc
dynaCERT Inc. manufactures and distributes Carbon Emission Reduction Technology along with its proprietary HydraLytica™ Telematics, a means of monitoring fuel consumption and calculating GHG 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, our 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. Our 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. Website: www.dynaCERT.com.
READER ADVISORY
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, information relating to Cipher Neutron Inc., Safe Energy General Trading L.L.C, UAE and Astec Valves and Fittings Private Limited, India cannot be independently verified. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance of achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: uncertainty as to whether our strategies and business plans will yield the expected benefits; availability and cost of capital; the ability to identify and develop and achieve commercial success for new products and technologies; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology and changes in laws and regulations; the uncertainty of the emerging Hydrogen Economy; including the Hydrogen Economy moving at a pace not anticipated; our ability to secure and maintain strategic relationships and distribution agreements; and the other risk factors disclosed under our profile on SEDAR atwww.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of the release.
On Behalf of the Board
Murray James Payne, CEO
View source version on businesswire.com:https://www.businesswire.com/news/home/20230314006024/en/
CONTACT: Jim Payne, CEO & President
dynaCERT Inc.
#101 – 501 Alliance Avenue
Toronto, Ontario M6N 2J1
+1 (416) 766-9691 x 2
jpayne@dynaCERT.com
Gurjant Randhawa, President & CEO
Cipher Neutron Inc.
grandhawa@cipherneutron.com
+1 (647) 803-0002
Investor Relations
dynaCERT Inc.
Nancy Massicotte
+1 (416) 766-9691 x 1
nmassicotte@dynaCERT.com
KEYWORD: INDIA CANADA NORTH AMERICA ASIA PACIFIC MIDDLE EAST EUROPE
INDUSTRY KEYWORD: AUTOMOTIVE MANUFACTURING TRUCKING MANUFACTURING MARITIME TRANSPORT SOFTWARE HARDWARE DATA MANAGEMENT LOGISTICS/SUPPLY CHAIN MANAGEMENT TECHNOLOGY OTHER ENERGY MINING/MINERALS OIL/GAS NATURAL RESOURCES ENERGY OTHER MANUFACTURING PUBLIC TRANSPORT CHEMICALS/PLASTICS
SOURCE: dynaCERT Inc.
Copyright Business Wire 2023.
PUB: 03/14/2023 05:28 PM/DISC: 03/14/2023 05:28 PM
http://www.businesswire.com/news/home/20230314006024/en