dynaCERT Provides Updates on Its Strategic Alliance With Mosolf Group
October 15 2021 - 7:13PM
Business Wire
dynaCERT Inc. (TSX VENTURE:DYA) (OTCQX:DYFSF) (FRA:DMJ)
("dynaCERT" or the "Company") announces that its strategic alliance
with Mosolf SE & Co. AG ("Mosolf"), first announced by the
Company in a news release dated October 16, 2019 (and commented
upon in its subsequent Management Discussion & Analysis in 2020
Q1 and Q2), has been terminated. Though discussions pertaining to
this strategic alliance continued throughout 2021, the Company has
recently recognized the termination of the strategic alliance from
Mosolf. The Company's strategic alliance with Mosolf initially
included a purchase order for 1,000 HydraGEN™ units, a dealership
agreement for Germany and an understanding to negotiate towards a
joint venture for the passenger car after-market in Europe. Though
the Company enjoyed a positive relationship with the Mosolf group
and its principals, the objectives of the initial arrangement have
not materialized, as only 48 units out of the 1,000 units under the
foregoing purchase order were delivered. As with several other
orders received by the Company in late 2019 and early 2020, the
COVID-19 pandemic had a significant impact on this relationship,
both in terms of access to the potential markets and clients of
Mosolf, and in terms of the Company's limitations on production
(and availability of inputs) throughout the lockdowns imposed by
the Government of Ontario throughout 2020 and into 2021. At the
same time, the materiality of this dealership declined in 2020
because the overall number of dealers increased significantly (with
dynaCERT now having over 45 dealers globally, seven (7) of which
are located and operate in Europe), and because of the increasing
relative importance of the Company’s relationship with its other
dealers and agents that operate in multiple centres globally. These
European dealership arrangements are entered into between the
Company's European subsidiary, dynaCERT GmbH Inc. (which operates
out of Germany, with a total of five (5) dedicated employees) and
cover various European countries, including Germany, Austria,
Netherlands and Benelux, Italy, Portugal, Latvia and the Baltics,
the UK and Ireland.
The Company notes that the disclosures in this press release are
provided to comply with a request by Staff of the Ontario
Securities Commission following a continuous disclosure review.
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,
refrigerated 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
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version on businesswire.com: https://www.businesswire.com/news/home/20211015005647/en/
Jim Payne, CEO & President dynaCERT Inc. +1 (416) 766-9691 x
2 jpayne@dynaCERT.com
Investor Relations dynaCERT Inc. Nancy Massicotte +1 (416)
766-9691 x 1 nancy@irprocommunications.com
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