Getting companies to adopt climate change initiatives is no easy task. Many economists believe that carbon pricing – either through carbon taxes or cap-and-trade programs – is the most efficient way to reduce greenhouse gas emissions. Carbon taxes provide a financial incentive for businesses and households to reduce their energy use and switch to cleaner fuels.
Carbon pricing provides across-the-board incentives to reduce energy use and shift to cleaner fuels and is an essential price signal for redirecting new investment to clean technologies. The carbon emissions and credit game is tricky, but pricing carbon is critical in deterring fossil fuel use and reducing greenhouse gas emissions.
Technology is going to play a vital role in the facilitation of climate change initiatives. There is an enormous opportunity for companies with climate change and carbon credit technologies. McKinsey reported that the carbon credit market could be worth $50 billion by 2050.
One company that has been involved in carbon credits and carbon reduction is dynaCERT Inc. (TSX: DYA | OTCQX: DYFSF). dynaCERT was one of the first companies to focus on carbon credits, and they have been working with Verra, the largest governing body for carbon credits, for over two years. dynaCERT’s Carbon Emission Reduction Technology (CERT) creates hydrogen and oxygen on-demand through a unique electrolysis system and supplies these gases to engines to enhance combustion, resulting in lower carbon emissions and greater fuel efficiency.
Verra “announced to dynaCERT that it’s Methodology in respect of its Carbon Credit Certification has reached a new important stage.” This technology can be a significant benefit for companies looking to offset their carbon emissions, and dynaCERT is at the forefront of this rapidly growing industry.
InvestorIntel interviewed dynaCERT’s President, CEO, and Director Jim Payne about its recent efforts and technology to reduce carbon emissions and generate carbon credits. Payne is excited about the commercial prospects for his company’s innovative technology. He noted that several large corporations have expressed interest in using dynaCERT’s products to reduce their emissions. These companies are attracted by the potential for significant reductions in emissions – up to 50 percent – as well as the carbon credits that will be generated.
On August 22nd, dynaCERT announced a new customer as both a showcase of their technology and one that could further their long-term prospects. The city of Timmins in Ontario, Canada, is committed to conducting a comprehensive pilot program to determine the city’s economic, social, and governance (ESG) objectives. As part of this program, the city has installed ten of dynaCERT’s HydraGEN™ units on various diesel-powered city vehicles. The units are expected to reduce fuel consumption, greenhouse gas emissions footprint, and carbon and NOx emission. Significantly, the pilot project will run and test the technology well into the Canadian winter months.
The program is planned to begin in September 2022, where equipped municipal vehicles will be analyzed to determine the impact of dynaCERT’s technology on emission reductions and fuel savings. The city expects to install HydraGEN™ Technology on buses, landfill equipment, garbage trucks, and other diesel-powered equipment. The results of the pilot program will be closely monitored to assess the potential benefits of dynaCERT’s technology for the City of Timmins, as well as a test case for other municipalities and potential commercial customers, which will be closely monitoring the results of the program in Timmins, which is considered a hub of the progressive mining and forestry community.
Although dynaCERT also recently announced the departure of two directors and a change of auditors, at publication date the company’s stock has seen a steady increase over the past two weeks from $0.10 to about $0.22. There is clearly a growing appetite at many levels for carbon emission reduction technologies.