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dynaCERT Inc. (TSX: DYA) (OTCQX: DYFSF) (FRA: DMJ) ("dynaCERT" or the "Company") is pleased to announce that the Chief Program Development and Innovation Officer of Verra signed an agreement engaging Earthood Services Private Limited (Earthood") to provide independent third-party verification services related to dynaCERT's application under Verra's Verified Carbon Standard ("VCS") programme.
In summary, dynaCERT and Verra have achieved the following steps in regard to dynaCERT's Carbon Credit initiatives:
- dynaCERT Inc., the developer under the VCS programme, pursuant to the VCS rules of Verra, has, prepared the methodology submission and documentation and completed Step 1 as set out in Verra's methodology process.
- Verra has reviewed the methodology documentation as set out in Step 2 of its methodology approval process.
- Verra has conducted its stakeholder consultation with the public as set out in Step 3 of its approval process which was completed after proposals were submitted.
- As Step 4 of Verra's approval process, Verra contracted with a Verra approved Validator to provide services in respect of the "Validation of the Methodology" in accordance with the terms and conditions set out in the agreement and the VCS Rules.
dynaCERT , Earthhood, Verra and, dynaCERT's consultant, International Environmental Partners Limited are now currently engaged in completing the VCS process with a view to dynaCERT's Carbon Credits achieving Verra's Verified Carbon Standard.
Dr. Kaviraj Singh, Managing Director of Earthood, stated, "It is a pleasure to be associated with dynaCERT through Verra for this methodology validation. We will put in our absolute best efforts to review the methodology as proposed and come up with quality results. If done right, we believe that this could be a game changer for the sector and we are looking forward to finishing this assessment in quick time, as we understand that this has been much awaited."
Archit Srivastava, General Manager, Strategic Business of Earthood, stated, "Having done several such assignments with Verra on the front of methodology validations, I am confident that Earthood will carry out a just assessment with transparency and accuracy. We have been known in the carbon markets for delivering many ‘first-of-its-kind' projects, and this one is another opportunity to retain and enhance the brand image that Earthood has built over the years."
Monika Wojcik, CEO of Global Environmental Partners, dynaCERT's consultant for the VCS application, stated, "Most sectors can use alternative technologies and processes to reduce the emissions from their operations and supply chains as well as the emissions associated with the products they sell, but some activities are hard to decarbonize. Innovation and policy developments will enable progress and must be developed at speed, but additional solutions to help tackle emissions in the short term are needed. The carbon credits earned by dynaCERT's users of its HydraGEN™ Technology will help businesses, that are turning to voluntary carbon markets to increase their decarbonization efforts."
Jim Payne, President and CEO of dynaCERT stated, " dynaCERT is very pleased to have now reached this point where Verra has approved the engagement of Earthood to verify our application under the Verified Carbon Credit Standard and we thank them both for this important milestone. Our HydraLytica™ software collects data on the vehicles with the integrated HydraGEN™ technology. This telematics device software displays fuel savings and carbon emission reports. HydraLytica™ allows truck drivers or vehicle owners to monitor on their computers automatically calculated diesel fuel savings and emission reduction reports with the HydraGEN™ Technology, in real-time. Our Technology is being marketed globally and is designed to offer the benefits of reducing fuel consumption in internal combustion engines. In addition, HydraGEN™ Technology reduces Greenhouse gases (GHG's) and allows users to significantly lower their Carbon Footprint and contribute to the Net-Zero goals of mankind."
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. In particular, forward-looking information in this press release includes, but is not limited to, the information contained herein by Verra and Earthood Services Private Limited which cannot be independently verified. 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.
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On Behalf of the Board
Murray James Payne, CEO
View source version on businesswire.com: https://www.businesswire.com/news/home/20220825005203/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
