TORONTO, March 26, 2019 (GLOBE NEWSWIRE) -- dynaCERT Inc. (TSX VENTURE: DYA) (OTCQB: DYFSF) (FRA: DMJ) ("dynaCERT" or the "Company") is pleased to announce that it has initiated the world-wide process of Carbon Credit applications for its HydraGEN™ Technology and engaged International Environmental Partners Limited of the UK to assist the Company in this regard.
By reducing fuel consumption in diesel engines while at the same time reducing carbon emissions and other pollutants, the HydraGEN™ Technology can become very lucrative with the global market acceptance of carbon credits. For example, it is estimated that a Class 8 Truck travelling long haul routes can generate up to €$1500 per year (Cdn $2278/year) in carbon credits based on the current market price of €15/tonne of CO2. dynaCERT’s goal is to create a world-wide programme to enable any earned carbon credits to be shared with end-users of its HydraGEN™ Technology under a contractual subscription programme. To our knowledge, the only existing methodology today to measure and track carbon credits from diesel engines is dynaCERT’s HydraGEN™ Technology and our SMART ECU2 electronics and algorithms.
The first three steps of dynaCERT’s ground-breaking and innovative carbon credit monetizing programme have already been initiated and are as follows:
1- dynaCERT has created innovative proprietary software algorithms in its patent pending SMART ECU2 to track the creation of carbon credits, such as its “Systems and Methods for Tracking Greenhouse Gas Emissions Associated with an Entity” patent pending (see Press Release dated October 5, 2017). An International Patent application has also been filed. Mr. David Bridge leads the charge at dynaCERT in these accomplishments and continues to develop new electronic advancements related to our HydraGEN™ Technology.
2- dynaCERT has nominated to its advisory board successful FinTech entrepreneur Brian Semkiw, P. Eng. and has more recently engaged his organization to further develop software that will enable the tracking of carbon credits generated by dynaCERT’s HydraGEN™ Technology. In addition, Mr. Semkiw will oversee that such carbon credits be validated, audited and digitally accepted in international markets. (see Press Release dated March 1, 2018). Mr. Semkiw’s company, 3rdGP, is the world’s first third generation processing payments company with emphasis on Blockchain and IOT payments processing solutions.
3- dynaCERT today has entered into a contractual agreement with International Environmental Partners Inc. of the UK and its President, Ms. Monika Wojcik, to manage two key dynaCERT applications in the certification of the carbon reductions generated by its HydraGEN™ Technology: (a) VERRA a highly recognized international certification organization based in Washington, DC for trading in the European marketplace where the trading of carbon credits is very active and which was been established as a major initiative of the Kyoto Protocol in 1997; and, (b) the Clean Development Mechanism (CDM) for developing countries which has been administered globally since April 6, 2007 by the United Nations offices in Bonn, Germany, and which bases its criteria as a result of an EU Directive 92/57/EEC (OJ L245, 26.8.92) in the Kyoto Protocol (see Press Release dated June 7, 2018).
Ms. Monika Wojcik is a financial and environmental markets trader, sustainability advisor and passionate advocate for countering climate change and global warming. She advises global corporate clients and governments on carbon emission offsets, sustainability, and clean technology improvements and implementations. Before founding International Environmental Partners she has worked as a broker and trader for CF Partners and FXCM.
International Environmental Partners is a carbon credit advisory and trading house with global outreach.
Ms Wojcik stated, “I am delighted to be able to help dynaCERT add the environmental product offerings to its HydraGEN™ Technology. The attractiveness of carbon products and sustainability benefits will be effective to drive decarbonization in the regions and sectors that are underrepresented and of an urgent need to improve air pollution.”
Mr. Brian Semkiw added, “We are pleased to be working with International Environmental Partners as we apply their deep knowledge of carbon credit certification to the digital process of tokenization leading to monetization of the carbon credits resulting from dynaCERT’s HydraGEN™ Technology.”
Jim Payne, President & CEO of dynaCERT commented, “Our success in gathering this combination of world experts is a major milestone achievement and aligns with our Company’s long term goal of becoming the global leader of monitoring and monetizing of diesel engine carbon credits. This goal was initiated with the development and filing of our global patent applications for our SMART ECU2 with its advanced tracking and verification capabilities and is now progressing swiftly to a genuine forthcoming accomplishment.”
The clean development mechanism (CDM) allows emission-reduction (or emission removal) projects in developing countries to earn certified emission reduction (CER) credits, each equivalent to one tonne of CO2. These CERs can be traded and sold, and used by industrialized countries to meet a part of their emission reduction targets under the Kyoto Protocol. The mechanism stimulates sustainable development and emission reductions, while giving industrialized countries some flexibility in how they meet their emission reduction targets. The projects must qualify through a rigorous and public registration and issuance process designed to ensure real, measurable and verifiable emission reductions that are additional to what would have occurred without the project. The mechanism is overseen by the CDM Executive Board (EB), answerable ultimately to the countries that have ratified the Kyoto Protocol.
In order to be considered for registration, a project must first be approved by the Designated National Authorities (DNA). The mechanism, in development for the dynaCERT HydraGEN™ technology, is seen by many as a trailblazer. It is the first global, environmental investment and credit scheme of its kind, providing a standardized emissions offset instrument, CERs, for mobile devices such as trucks, farm equipment, construction equipment and also for stationary power systems all of which are powered by diesel engines.
A programme of activities (PoA) under the CDM is the coordinated implementation of a policy, measure or goal that reduces emissions. Under a PoA, emission reductions achieved by many individual activities (known as component project activities or CPAs) can be considered in aggregate, without requiring each CPA to undergo individualized registration and issuance processes. This reduces transaction costs and makes the CDM more attractive and accessible, particularly to least developed countries that have not historically benefited from the CDM.
VERRA is committed to helping reduce emissions, improve livelihoods and protect natural resources across the private and public sectors. VERRA supports climate action and sustainable development with standards, tools and programs that credibly, transparently and robustly assess environmental and social impacts and enable funding for sustaining and scaling up these benefits. VERRA works in any arena where we see a need for clear standards, a role for market-based mechanisms and an opportunity to achieve environmental and social good.
VERRA was founded in 2005 by environmental and business leaders who saw the need for greater quality assurance in voluntary carbon markets. It now serves as a secretariat for the various standards that they develop and the programs that they manage, as well as an incubator of new ideas that can generate meaningful environmental and social value at scale. The strategic direction of VERRA is set by both staff and the VERRA Board of Directors.
VERRA develops and manages standards and frameworks to vet environmental and sustainable development efforts, build their capacity and connect them to funding. By ensuring that their standards are robust, practical and transparent, VERRA can accurately quantify benefits and drive investment in responsible, high-performing projects and programs. We work closely with civil society, governments and the private sector to develop novel frameworks and enable results on the ground. VERRA continues to bring expertise in standard development and program management from their flagship voluntary carbon market program into new fields, to increase the scope and scale of our impact.
All of VERRA programs undergo extensive stakeholder consultation and expert review, and draw from four key components: standard, independent assessment, accounting methodologies, and registry.
About International Environmental Partners
International Environmental Partners are a multilingual team of advisors, traders, marketers, journalist and PR/CSR experts. The company provides access to global environmental markets and products. International Environmental Partners’ mission is to provide a tailored solution to organizations taking a proactive approach to fight climate change. International Environmental Partners aim to work with NGOs, climate fight initiatives and organizations within sustainability sector to bring awareness and ways of reducing emission and improving lives in communities affected by global warming.
About dynaCERT Inc.
dynaCERT Inc. manufactures, distributes, and installs Carbon Emission Reduction Technology for use with internal combustion engines. As part of the growing global hydrogen economy, our patent-pending technology creates hydrogen and oxygen on-demand through electrolysis and supplies these through the air intake to enhance combustion, resulting in lower carbon emissions and greater fuel efficiency. Our technology is designed for use with all 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.
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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
(416) 766-9691 x 2
(416) 766-9691 x 1