dynaCERT Inc. (TSX: DYA) (OTCQX: DYFSF) (FRA: DMJ) ("dynaCERT"
or the "Company") is pleased to announce that the executive
management of Verra, which manages the world’s largest greenhouse
gas program, the Verified Carbon Standard, has announced to
dynaCERT that it’s Methodology in respect of its Carbon Credit
Certification has reached a new important stage.
As part of its normal required process of certification, Verra
has advanced dynaCERT’s Carbon Credit Methodology to its Global
Public Comment Stage in order to meet Verra’s Verified Carbon
Standard. The Methodology for Improved Efficiency of Fleet Vehicles
and Combustion Engines can be viewed and downloaded here:
https://verra.org/methodology/methodology-for-improved-efficiency-of-fleet-vehicles-and-combustion-engines/
Verra indicates the following: “This Methodology applies to
project activities that improve efficiency of vehicle fleets and
mobile machinery (e.g. fleets of trucks, buses, cars, taxis or
motorized tricycles, excavators, cranes), resulting in reduced fuel
usage and GHG emissions. This Methodology is globally applicable.
The Methodology is based on the CDM methodology AMS-III.BC.
Emission reductions through improved efficiency of vehicle fleets
and approved VCS Methodology Revision VMR0004 that included mobile
machinery.”
Once finalized by Verra, the Methodology will pave the way for
dynaCERT’s patented HydraGEN™ Technology and HydraLytica™
Telematics to be deployed for the certification of Carbon Credits
on a global basis.
Hydrogen Economy Leaders Collaborating
with Verra
dynaCERT’s management is fully committed to maintaining a
Canadian leadership role in the new Hydrogen Economy while
collaborating significantly with other top-ranked clean industry
leaders, such as Verra, to further supplement and broaden the
benefits of the Company’s clean-technology line of products
currently available to the global market.
United Nations Clean Development
Mechanism
The previously announced concept note accepted by Verra is
unique because no such similar methodology is in use globally for
mobile transportation vehicles. See the Company’s Press Release
dated January 25, 2021. After discussion and thorough research,
Verra accepted the concept note designed to create dynaCERT’s new
Transportation Verified Carbon Standard (VCS) Methodology under
Verra’s VCS Program using the proposed revisions by dynaCERT and
the Clean Development Mechanism of the United Nations enacted by
the United Nations’ “Framework Convention on Climate Change,
regarding emission reductions through improved efficiency of
vehicle fleets”, i.e., AMS-III.B.C.
Monika Wojcik of Environmental Partners of the UK, dynaCERT’s
consultant on Carbon Credits stated, “The approval of the new
methodology could play an important role for the voluntary carbon
market to scale up from $300 million valued now to over $50 billion
to meet the demand for carbon neutrality in the near future. In the
unrepresented transportation industry in the carbon market,
dynaCERT’s HydraGEN™ units’ adoption is a milestone in the CO2
reductions with upcoming support of the carbon monetization
available to dynaCERT clients.”
Jim Payne, CEO of dynaCERT, stated, “Voluntary Carbon Credits
have grown exponentially in the last 5 years. The Voluntary Carbon
Credit Market continues to grow rapidly and is expected to evolve
as a very significant global investment opportunity, just as
Cryptocurrency and FinTech have rapidly changed the world of modern
investments and currency exchange. Verra is one such organization
at the cornerstone of Voluntary Carbon Credits operating in the
Carbon Credit certification market and it is by far one of the
largest such organizations with a roster of over 1,700 Carbon
Credit Projects world-wide. dynaCERT thanks Verra for all its
continued support.”
About Verra
Verra is a global leader helping to tackle the world’s most
intractable environmental and social challenges by developing and
managing standards that help the private sector, countries, and
civil society achieve ambitious sustainable development and climate
action goals. Verra’s global standards and frameworks serve as
linchpins for channeling finance towards high-impact activities
that tackle some of the most pressing environmental issues of our
day. Website: www.verra.org
The VCS Program of Verra
The VCS Program is the world’s most widely used voluntary GHG
program. The VCS Program provides a pathway for carbon projects to
achieve certification through a third-party audit process.
Successful certification can result in the generation of a VCU
(Verified Carbon Unit). Since its launch in 2006, the VCS Program
has grown into the world’s largest voluntary GHG program. Projects
certified under the VCS Program include dozens of technologies and
measures which result in GHG emission reductions and removals,
including forest and wetland conservation and restoration,
agricultural land management, transport efficiency improvements,
and many others. Over 1,600 certified VCS Program projects have
collectively reduced or removed more than 550 million tonnes of
carbon and other GHG emissions from the atmosphere, the equivalent
of more than 120 million passenger vehicles being taken off the
road for one year.
Methodology of the United
Nations
More information about the methodology of the United Nations for
reductions of emissions of vehicles under the AMS-III.B.C. may be
found here:
https://cdm.unfccc.int/methodologies/DB/13LQNV5A5EKORXUG3607N7ROBX6J6K
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 low-pressure 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. 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/20211018005247/en/
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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