TORONTO, Oct. 16, 2019 (GLOBE NEWSWIRE) -- dynaCERT Inc. (TSX VENTURE: DYA) (OTCQB: DYFSF) (FRA: DMJ) (“dynaCERT” or the “Company”) is pleased to announce that it has concluded three (3) agreements with Mosolf SE & CO. AG, of Germany (“MOSOLF”):
- first, an important strategic Memorandum of Understanding (the “MOU”) defining the collaboration for penetration in numerous vertical markets in Europe of dynaCERT’s hydrogen technology;
- second, a Dealer Agreement for Germany; and,
- third, a purchase order for delivery in 2020 of 1,000 of dynaCERT’s HydraGENä Technology Units.
Based in Kirchheim/Teck, Germany, MOSOLF is one of the leading logistics system service providers to the automotive industry in Europe. MOSOLF has been growing exponentially in the automobile industry since 1955. The wide spectrum of services provided by MOSOLF covers the complete value-added chain for commercial and construction vehicles and automobile logistics, ranging from the end of the production line to end-of-life vehicle recycling. With a staff of over 2,800, these services are provided using a broad network of thirty-eight (38) technical centers and a multi-modal fleet that combines different resources for road, rail and river transportation methods with numerous points of sale and service throughout Europe. (see: https://www.mosolf.com/en.html)
Under the MOU, dynaCERT has agreed to appoint MOSOLF and its subsidiaries as dealers for Germany and other countries in Europe (initially, Czech Republic, Poland, France and Benelux) with the rights to sell and install the Company’s HydraGENä Technology products throughout the European Union. The first of such MOSOLF Dealer Agreements, the appointment of MOSOLF as dealer for Germany, was signed and formalized concurrent with the MOU.
Under the MOU, MOSOLF shall also be marketing dynaCERT’s HydraGENä Technology to the federal and local Government entities in Germany including many towns, municipalities and cities.
Under the MOU, MOSOLF and dynaCERT have also commenced negotiations to establish a joint venture whereby MOSOLF, in conjunction with dynaCERT, will fund, develop, certify and offer a customized HydraGENä Technology to the Passenger Car After-Market in Europe capitalizing on MOSOLF’s extensive commercial relationships in the transportation industry throughout Europe.
Dr. Joerg Mosolf, Chief Executive Officer of the MOSOLF Group stated, “We are very pleased to represent dynaCERT‘s HydraGENä Technology products throughout Europe. After dynaCERT’s recent KBA Homologation in Germany, the road has been paved for an intense marketing campaign on a continent where dynaCERT ’s technology is much-needed and expected to make quick inroads throughout the transportation industry. Our environmental mission is aligned with dynaCERT.”
Enrico Schlaepfer, dynaCERT ’s Vice President of Global Sales, stated, “The MOSOLF association is a landmark milestone for dynaCERT in Europe. MOSOLF is well-established in our target transportation market with professional service centres located across Europe. Our European vision has finally become reality. We are embarking on a sales and marketing campaign of exceptional strength and integrity with a partner like MOSOLF.”
Jim Payne, President and CEO of dynaCERT stated, “I thank Dr. Joerg Mosolf, Mr. Gregory Hancke, COO of MOSOLF, and Mr. Detthold Aden, Senior Advisor to MOSOLF, personally for coming from Germany to Toronto to confirm the important details which will set the strong foundation of dynaCERT’s push into the continental European market. We are very pleased to have a capable partner like MOSOLF and have confidence for our continued growth with their highly respected team in Europe.”
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, reefer trailers, off-road construction, power generation, mining and forestry equipment, marine vessels and railroad locomotives. 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, forward-looking information in this press release includes, but is not limited to the potential expansion into new markets, industries and segments, such as diesel- powered use of any the dynaCERT products and sales. 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
For more information, please contact:
Jim Payne, CEO & President
#101 – 501 Alliance Avenue Toronto, Ontario M6N 2J1
+1 (416) 766-9691 x 2
+1 (416) 766-9691 x 1