June 21, 2023 (Source) – (TSX: DYA) (OTCQX: DYFSF) (FRA: DMJ) dynaCERT Inc. (“dynaCERT” or the “Company”) and its AEM Green Electrolyser partner, Cipher Neutron Inc. (“Cipher Neutron”, “CN”) are pleased to jointly announce that Cipher Neutron has concluded a significant Memorandum of Understanding (the “MOU”) with Technomak Process Systems FZC (“Technomak’). The MOU provides that Cipher Neutron will manufacture state-of-the-art AEM Green Electrolysers to produce Green Hydrogen for Technomak’s own facilities and those of its customers on a global basis.
Technomak’s Dominant Industry Participation
Technomak is a leading supplier of on-shore and off-shore wind power and turbine technologies. Technomak plans to use Cipher Neutron’s AEM Green Electrolysers which are 100% PFAS-free (free of dangerous Polyfluoroalkyls or forever chemicals) and 100% PGM-free (free of GHG intense Platinum Group Metals) to enable energy transition towards a net-zero imperative. Technomak services prestigious clients world-wide including Saudi Aramco, Rio Tinto, ONGC of India, BP, SNC Lavalin, GE Power, Maersk Oil, Honeywell, Alstom, Hitachi Zosen Innova, Larsen & Toubro, Samsung, Petrofac, Siemens and many more. Please see: https://www.technomak.com/
Oil and Gas Industry
Technomak plans to target their existing Oil and Gas clients to enable them to replace their grey hydrogen usage to GHG-free Green Hydrogen. As a major supplier to upstream operators, Technomak provides engineering and design services as well as pump and compressor stations on crude oil and natural gas pipelines. Technomak’s vast experience and knowledge will provide a smooth entry of Cipher Neutron’s AEM Green Electrolysers into the Oil and Gas Industry. Common uses of Green Hydrogen in the Oil and Gas industry are hydrogenation, hydrocracking and oil refining.
Technomak provides comprehensive power distribution and energy management solutions and works with the local authorities in the Middle East region to engineer and deliver power solutions. Technomak’s presence in the power industry coupled with Cipher Neutron’s AEM Green Electrolysers is designed to play a major role during the energy transition of numerous power utilities to Green Hydrogen solutions.
Sadaat Hussain, Director of Technomak Sales & Business Development, stated, “Cipher Neutron is a leading international developer of advanced AEM Green Electrolysers and well-suited to partner with Technomak. Our international clients demand sustainable solutions to be applied globally, so, after in depth due diligence, we at Technomak are featuring the best available green solutions, such as those provided by Cipher Neutron.”
Gurjant Randhawa, President & CEO of Cipher Neutron, stated, “Technomak is a world-renowned multinational strategically based in Dubai fostering a Green Hydrogen world. Along with our advances in AEM Green Electrolysers, which are designed to provide an efficient and affordable source of Green Hydrogen, at Cipher Neutron, we constantly strive to continually research the best technologies and collaborate with innovative strategic partners such as Technomak, that have game changing ideas from around the globe.”
Jean-Pierre Colin, Executive Vice President & Director of dynaCERT, stated on behalf of dynaCERT, “dynaCERT is very pleased to support Technomak and Cipher Neutron to market AEM Green Hydrogen Electrolysers on a global basis. dynaCERT announced in its Press Release dated February 22, 2023 that it has entered into a Collaboration Agreement with Cipher Neutron, including the purchase of up to 50% of Cipher Neutron. Along with dynaCERT’s rights to AEM Green Hydrogen Technology, dynaCERT stands to benefit from the continuing endeavours of Technomak and Cipher Neutron in the many years ahead as the world moves towards a Green Hydrogen Economy.”
About Cipher Neutron Inc.
Cipher Neutron is a rapidly growing disruptive technology company focused on AEM Electrolyzers for Green Hydrogen production and Reversible Fuel Cells for power generation and Energy Storage Solutions. Cipher Neutron is a global group of scientists, engineers, technology developers, experts in hydrogen technology, investment bankers and people that have worked in hydrogen for decades. Cipher Neutron’s innovative products, such as AEM Electrolyzers and Reversible Fuel Cells have unique advantages over other Green Hydrogen production, power generation and energy storage solutions currently available in the global market. Please see: https://cipherneutron.com
About dynaCERT Inc.
dynaCERT Inc. manufactures and distributes Carbon Emission Reduction Technology along with its proprietary HydraLytica™ Telematics, a means of monitoring fuel consumption and calculating GHG emissions savings designed for the tracking of possible future Carbon Credits 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, which has shown to lower carbon emissions and improve 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. Website: www.dynaCERT.com.
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, information relating to Technomak Process Systems FZC cannot be independently verified and information relating to Cipher Neutron Inc. and its AEM electrolyzer technologies 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 of dynaCERT Inc.
Murray James Payne, CEO
For more information:
Jim Payne, CEO & President
#101 – 501 Alliance Avenue
Toronto, Ontario M6N 2J1
+1 (416) 766-9691 x 2
+1 (416) 766-9691 x 1
Gurjant Randhawa, CEO & President
Cipher Neutron Inc.
101 – 501 Alliance Avenue
Toronto, Ontario M6N 2J1
+1 (647) 803-0002