September 5, 2023
TSX: DYA
OTCQX: DYFSF
FRA: DMJ
dynaCERT Creates a Green Freight Program Task Force
to Provide Financial Assistance to Clients That Purchase Its HydraGEN™ Technology
TORONTO, ON--(Business Wire – September 5, 2023) dynaCERT Inc. (TSX: DYA) (OTCQX: DYFSF) (FRA: DMJ) ("dynaCERT" or the "Company") is pleased to announce that the Company has empowered a specialized team, the “dynaCERT Green Freight Program Task Force”, to assist all dynaCERT’s Canadian dealers and their clients that seek to realize the financial advantages of the recently launched Stream 2 of the Green Freight Program of Natural Resources Canada, a Department of the Government of Canada (“NR Can”). The Green Freight Program provides funding assistance to qualified purchasers.
dynaCERT supports government initiatives that create jobs while fighting climate change and driving down costs for users of the Company’s HydraGEN™ Technology, designed to reduce fuel consumption in diesel engines and reduce polluting emissions.
The dynaCERT Green Freight Program Task Force
Through its Green Freight Program Task Force, dynaCERT is helping its clients save money, reduce pollution and decarbonize fleets, while helping build a prosperous net-zero economy for generations to come.
dynaCERT’s Green Freight Program Task Force is spearheaded by Ed Cordeiro, Director of Sales, Americas, and co-managed by senior executives, Khoa Tran, Director of Finance, and Ishan Juneja, Program Coordinator.
For further information and assistance regarding the dynaCERT Task Force and dynaCERT’s HydraGEN™ Carbon Emission Reduction Technology line of commercial products, please contact:
The Green Freight Program of the Government of Canada
The Green Freight Program of the Government of Canada was launched to provide financial assistance to fleets looking to implement new technologies that provide lower GHG emissions.
To be considered for funding, applicants must submit a list of technologies and equipment. Repowers of eligible technologies must be permanent modifications, demonstrate the capacity to reduce diesel consumption of medium- and heavy-duty vehicles and reduce GHG emissions by switching the fuel used to a lower-carbon alternative. This includes projects where the engine and/or drive train is replaced and where kits are added to the truck. Dual fuel options are eligible.
Under Stream 2 of the program, applicants can receive a maximum of 50% of project costs up to $5,000,000. The final amount of NRCan’s non-repayable contribution to an applicant under this program will be dependent on the applications received and available funding. NRCan will provide up to 50% of the costs and applicants will contribute the remaining 50% as a combination of cash contributions, in-kind contributions or funding from other government sources.
Projects by not-for-profit organizations or provincial, territorial, regional, or municipal governments or their departments or agencies, where applicable, as well as projects with Indigenous businesses or community groups, may request an increase in the maximum amount payable by NRCan, up to 75% of total project costs.
Stream 2 of the Green Freight Program provides support for innovative actions including engine repowers, switching to cleaner fuels, and fleet transportation improvements. Selected projects will support data-driven investment decisions when considering energy-efficient improvements for their medium- and heavy-duty vehicles across fleets. The application window will remain open until November 16, 2023. Stream 2 of the Green Freight Program builds on the progress of Stream 1 of the Green Freight Program, which supports investments in fleet-wide energy assessments and retrofits, including for truck and trailer equipment. Stream 1 continues to accept applications.
For information regarding the Canadian Government Green Freight Program, please see:
https://natural-resources.canada.ca/energy-efficiency/transportation-alternative-fuels/greening-freight-programs/green-freight-program/20893
For information regarding Stream 2 of the Canadian Government Green Freight Program, please see:
https://natural-resources.canada.ca/energy-efficiency/transportation-alternative-fuels/greening-freight-programs/green-freight-program/green-freight-program-applicants-guide-stream-2/25263
Ed Cordeiro, Director of Sales, Americas of dynaCERT, stated, “Canadian businesses are adopting innovative and efficient technologies to help drive down costs and pollution at the same time. In the transportation sector, which accounts for one-quarter of Canada’s emissions, the Government of Canada is continuing to help businesses reduce their emissions, including through the Green Freight Program. Road vehicles are a key contributor to pollution in Canada. Such government incentives are a great tool to reduce risk and can motivate fleets to adopt cleaner options to build a more environmentally friendly transportation system for Canadians. dynaCERT’s HydraGEN™ Technology is designed to reduce pollution on our roads and support a cleaner transportation system that benefits all Canadians.”
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. 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. In particular, forward-looking information in this press release includes, but is not limited to, the Green Freight Program of the Government of Canada which cannot be independently verified by the Company. 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
For more information, please contact:
Jim Payne, CEO & President
dynaCERT Inc.
#101 – 501 Alliance Avenue
Toronto, Ontario M6N 2J1
+1 (416) 766-9691 x 2
jpayne@dynaCERT.com
Investor Relations
dynaCERT Inc.
Nancy Massicotte
+1 (416) 766-9691 x 1
nmassicotte@dynaCERT.com