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:
- to promote interaction between Astec, CN and dynaCERT in
mutually beneficial businesses in Europe, the Middle East and
India, including Dubai (the “Region”);
- to promote trade of anion-exchange-membrane (AEM) electroliers
and other hydrogen related technologies in the Region; and,
- to explore possible Engineering, Procurement and Construction
(EPC) of green hydrogen projects in the Region; and,
- to explore ways whereby Astec may distribute on a non-exclusive
basis products of CN and dynaCERT in the Region; and,
- to assist each other in exploring green hydrogen strategies
with policy makers in the Region; and,
- to explore the possibility of provisioning of state-of-the art
green hydrogen technology and products to be Manufactured and
Engineered jointly by Astec, CN and dynaCERT in the Region;
and,
- to seek mutually agreeable investment in local manufacturing in
the Region and for local demand under license, where
applicable.
CN, dynaCERT and Astec will collaborate regarding the
following:
- The purchase and marketing of CN and dynaCERT’s jointly
developed AEM hydrogen Electrolysers by Astec in the Region;
- Advancing the testing of Astec’s advanced proprietary products
for use in hydrogen Electrolysers and other hydrogen related
technologies of CN and dynaCERT with a view to developing superior,
more efficient Electrolysers and lower cost green hydrogen for
industrial applications and clean energy storage and generation;
and,
- Any other appropriate mode of interaction that may be further
agreed upon between dynaCERT, CN and Astec.
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 at www.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/
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
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