Breaking #Cleantech #Stock
News: dynaCERT (TSX: $DYA.TO) Survives COVID-19 and Re-Emerges Very Financially
Healthy; @dynaCERT
Read this news
featuring dynaCERT in full at https://www.investorideas.com/CO/DYA/news/2020/07301Financially-Healthy.asp
New Assembly Plant Accommodating Product Improvements
The
recently upgraded Company's Assembly Plant will now re-open for production and
fulfilment of purchase orders on Tuesday, August 4, 2020.
The
much anticipated and newly designed commercial HydraGEN™ Technology HG2 Units
of the Company will be the first among Units to be rolled off dynaCERT's newest
improved Assembly Line, the first commercial production run of the new HG2
models, some of which have already been paid for in part. The new HG2 design
has been improved during the COVID closures. The new Assembly Line, which is
also very compatible with the production of HG1 Units, is also expected to be
deployed for the first runs of much improved HG1 Units in August 2020.
Much Improved Assembly Standards
The
Assembly Line has been retrofitted with a new semi-automated assembly system,
complete with automated and customized conveyor belt equipment advancing
work-in-progress progressively to individually designated workstations which
provide improved high standards in state-of-the-art technical specifications.
The Assembly Line can maintain a capacity of 100 units per day or 2000 Units
per month, assuming one single 8-hour shift per day. Capacity is expected to be
capable of tripled production of 6000 Units per month using three shifts per
day.
Of
most significance, dynaCERT awarded the commissioning of this new dual-sided
Assembly Line to Wecon Systems Ltd. of Mississauga (Canada), the very highly
regarded specialists for this type of forward-looking project. The newly
designed Assembly Plant, while improving quality control, can greatly reduce
costs of goods sold and production delivery times and features the support of a
proprietary Enterprise Resource Planning (ERP) logistics software. dynaCERT
customers can now expect almost immediate delivery of their backlog of purchase
orders of HydraGEN™ Units, at their own desired rate of delivery.
Best Practices of Health & Safety
During
the shutdown, dynaCERT has implemented the best practices COVID-19
recommendations of Governments, both Municipal and Provincial, and has
carefully upgraded Health & Safety measures for all its employees and
customers. With these new measures, the Company is confident that all employees
will be provided with as safe a working environment as could be expected for a
growing Canadian company in compliance with new regulatory measures. In a show
of support of dynaCERT by the Federal Government, the Company has received
subsidies and grants in the order of approximately $450,000 awarded under the
Canada Emergency Wage Subsidy (CEWS).
Proprietary Advances in R&D
During
the COVID-19 shutdown, the Research & Development premises and testing
equipment of the Company were also upgraded. dynaCERT is continually doing
scientific research to make its commercial products more robust and applicable
to new vertical markets. The established R&D team, under the new management
of Mr. Gavy Singh, P.Eng., has been developing product improvements which will
be made available to all dynaCERT customers in all the upcoming deliveries of
the Company's HydraGEN™ Technology Products. The new upgrades feature fewer
moving parts, less electrical connections, a simpler design and more
user-friendly operation than the existing HG1 Units being deployed at the
present time. dynaCERT continues to provide existing customers with the latest
upgrades to ensure its continued goodwill with end-users.
Solid Balance Sheet
The
Company has re-emerged from the global COVID-19 economic slowdown with a
cleaner and stronger balance sheet, having more than adequate cash reserves, a
very strong balance sheet with approximately $18,000,000 in cash and virtually
no significant debt, a better Assembly Plant, an improved R&D facility,
significant Product improvements and a continued backlog of previously
announced purchase orders.
The
Sales Department of the Company continues to maintain existing dealer
relationships and has added new dealers where global marketing continues to be
active.
Additional Certifications in the Middle East
In
the United Arab Emirates, where the Company has an active dealer, Castle Star
General Trading LLC, the Company's products have recently received homologation
of dynaCERT's HydraGEN™ Technology by way of Certificates of Conformity and
Schedules of Certification under the Emirates Conformity Assessment Scheme,
based on recent TUV South testing in Germany. The Company's products can now be
offered to numerous markets in Dubai and other parts of the UAE and the Middle
East.
Jim
Payne, CEO of dynaCERT, stated, "Our people and our customers around the
globe have been very loyal and patient during this COVID-19 shutdown, but, in
the end, dynaCERT has continued to advance forward. We continue to carry out
our global strategy and have emerged successful. During this time, dynaCERT
raised over $8,000,000 in the capital markets via an underwritten prospectus
offering, upgraded our listing to the Toronto Stock Exchange, upgraded our
listing to the OTCQX Best Market in the USA, upgraded our R&D and Assembly
Plant and improved our technology. dynaCERT has pushed on successfully with our
plan to get certified globally with various homologations, including in the
UAE, and concluded a new alignment with our North American Dealer, KarbonKleen
Inc., where we can now offer our products through our wholly-owned subsidiary,
dynaCERT International Strategic Holdings Inc. or DISH, via a monthly
subscription programme to enhance user financing and adoption of our HydraGEN™
Technology."
About dynaCERT Inc.
dynaCERT
Inc. manufactures and distributes Carbon Emission Reduction Technology 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, resulting in lower carbon emissions and greater 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, marine vessels and railroad
locomotives. 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,
forward-looking information in this press release includes, but is not limited
to completion of the Offering, satisfaction of TSX listing conditions and
regulatory approvals. 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 TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture 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
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