July 14, 2023
TSX: DYA
OTCQX: DYFSF
FRA: DMJ
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
TORONTO, ON--(Business Wire – July 14, 2023). (TSX: DYA) (OTCQX: DYFSF) (FRA: DMJ) dynaCERT Inc. ("dynaCERT" or the "Company") and its AEM Green Electrolyser partner, Cipher Neutron Inc. ("Cipher Neutron", “CN”) are pleased to jointly announce that Cipher Neutron has received an initial purchase order for a 10-Kilowatt AEM Electrolyser Stack and signed a Memorandum of Understanding with the Kuber Group Africa (“Kuber”).
The AEM Green Hydrogen Electrolyser stack will be manufactured in dynaCERT’s production facilities in Toronto pursuant to the Collaboration Agreement between dynaCERT and Cipher Neutron dated February 17, 2023. In addition to having options to purchase up to the current 50% of equity in Cipher Neutron, dynaCERT also owns half of the AEM Green Electrolyser technology that is being developed by Cipher Neutron.
Projects Totalling 10 Megawatts
The Memorandum of Understanding (the “MOU”) provides for the promotion and increase of the use of AEM Electrolysers supplied by CN in jurisdictions where Kuber has an established business footprint and the fulfillment and execution of purchase orders from Kuber of 10 Megawatts of CN’s AEM Electrolysers for multi-Megawatt 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 multi-Megawatt hydrogen projects secured by Kuber in Africa with leading state-of-the-art AEM Hydrogen Electrolysers 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, USA and the UK. Please see: https://kubergroupafrica.com/
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 License 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 Electrolysers 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 focussed.
Col. 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 and PGM-free disruptive AEM electrolyser 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 CEO 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 Electrolysers.”
Jim Payne, President & CEO 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-dollar 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 life span than current technologies.”
About Cipher Neutron Inc.
Cipher Neutron is a rapidly growing disruptive technology company focused on AEM Electrolysers 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 that have worked in hydrogen for decades. Cipher Neutron’s innovative products, such as AEM Electrolysers and Reversible Fuel Cells have unique advantages over other Green Hydrogen production, power generation and energy storage solutions currently available in the global market. Please see: https://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 the Kuber Group Africa. cannot be independently verified and information relating to Cipher Neutron Inc. and its AEM electrolyzer technologies 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 of dynaCERT Inc.
Murray James Payne, CEO
For more information, please contact:
dynaCERT Inc.
Jim Payne, CEO & President
#101 – 501 Alliance Avenue
Toronto, Ontario M6N 2J1
+1 (416) 766-9691 x 2
jpayne@dynaCERT.com
dynaCERT Inc.
Nancy Massicotte
Investor Relations
+1 (416) 766-9691 x 1
nmassicotte@dynaCERT.com
Gurjant Randhawa, CEO & President
Cipher Neutron Inc.
101 - 501 Alliance Avenue
Toronto, Ontario M6N 2J1
+1 (647) 803-0002
[email protected]