October 24, 2023
TSX: DYA
OTCQX: DYFSF
FRA: DMJ
dynaCERT Announces Update to Existing and Future Carbon Credit Applications
Along with Agreed Timeline with Earthood
TORONTO, ON--(Business Wire – October 24, 2023) dynaCERT Inc. (TSX: DYA) (OTCQX: DYFSF) (FRA: DMJ) ("dynaCERT" or the "Company") is pleased to update its shareholders and announce that it has agreed with Earthood Services Pvt. Ltd., (“Earthood”) on a definitive timeline to advance dynaCERT’s Methodology Development and Review Process, previously announced by dynaCERT in conjunction with its application with Verra, the manager of the world’s leading voluntary carbon markets program. See Press Releases dated November 18, 2019, January 25, 2021, October 18, 2021, December 8, 2021, and August 25, 2022.
dynaCERT’s proprietary HydraGEN™ Technology and HydraLytica™ Technology designed to reduce carbon emissions in diesel engines.
Earthood has been voted as World’s Best Verification Company of 2023 by Environmental Finance’s initiative of Voluntary Carbon Market Rankings.
Please see: https://www.environmental-finance.com/content/awards/voluntary-carbon-market-rankings-2023/
Earthood was chosen by dynaCERT to review and provide services in respect of the “Validation of the Methodology” in accordance with the terms and conditions set out in the applicable program rules.
Earthood has been finalizing an assessment report on the Methodology for improved efficiency of fleet vehicles and combustion engines (the “Assessment Report”), which is expected to support the Methodology which will be used by dynaCERT to validate its Carbon Credits under Verra’s VCS Program. Please see www.earthood.in for further information about Earthood.
The agreed timeline between Earthood and dynaCERT is established to conclude the Assessment Report process by December 31, 2023, at the latest. Moreover, to facilitate and speed up the process, Earthood has indicated that it now expects to provide its Technical Review (the “TR”) and a final submission of its TR findings to dynaCERT by mid-November 2023. If all findings are closed out appropriately and sufficiently, Earthood will release the final methodology validation report by end of November 2023.
Archit Srivastava, Vice President (Strategy & Growth) at Earthood stated, “We have worked diligently with dynaCERT to help realize its great potential with its HydraGEN™ Technology and HydraLytica™ Technology and are pleased to continue the work to the finalize our assessment report. Earthood is a pioneering force in the carbon offset verification industry with a reputation as an internationally acclaimed auditing & certification firm, providing strategic support and services in the realm of Climate Change, Net Zero, Sustainability among others. Earthood is widely regarded as the top choice for clients seeking solutions to the most complex and ground-breaking projects, regardless of their location worldwide. Also known to be assessing the “first of its kind projects”, Earthood’s outstanding reputation is backed by its accreditations from 12 leading organizations such as the United Nations and Verra. Since 2012 Earthood has now grown into a thriving company with offices in five countries and a portfolio of over 2000+ projects worldwide.”
Jim Payne, CEO of dynaCERT, stated, “At dynaCERT we are proud to be working with Earthood towards the establishment of Carbon Credits derived from our HydraGEN™ Technology and HydraLytica™ Technology which are designed to reduce carbon emissions in diesel engines. Our team approach of experts has proven to work very well, and we have developed numerous patents. Moreover, US Patent No: 11,416,872 B2, “Systems and Methods for Tracking Greenhouse Gas Emissions Associated with an Entity” has been granted in the US along with most key Jurisdictions around the world either as patented or patent pending. More importantly, these patents are applicable in ten different verticals including Residential, Industrial, Commercial, Power Generation, Railway, Marine, Aviation, Agricultural and On Road & Off-Road entities. We look forward to announcing such further accretive milestones for our Company in furthering our work to develop our unique Carbon Credit opportunities.”
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
This press release of dynaCERT Inc. contains statements that constitute "forward-looking statements". Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause dynaCERT’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. In particular, information relating to Verra, the VCS Program, Carbon Credits and Earthood Services Pvt. Ltd. cannot be independently verified. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Actual results may vary from the forward-looking information in this news release due to certain material risk factors. This news release is not intended for distribution to U.S. news services or for dissemination in the United States.
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. 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