TORONTO, July 16, 2024--(BUSINESS WIRE)--dynaCERT Inc. (TSX: DYA) (OTC: DYFSF) (FRA: DMJ) ("dynaCERT" or the "Company") is pleased to announce that its portfolio company, Cipher Neutron Inc. ("Cipher Neutron" or "CN"), has been awarded an Advanced Contract Award Notification (ACAN) to design and construct two (2) 250-kilowatt electrolyser stacks for Simon Fraser University ("SFU").
This landmark project, slated to begin in Q4 2024, signifies a major step forward in green hydrogen innovation and its applications in academic and research settings. The project of Cipher Neutron and SFU is designed to propel forward-thinking research and innovation in sustainable energy solutions, leveraging Cipher Neutron's leading-edge AEM Electrolyser technology.
Clean Hydrogen Hub
Located at Simon Fraser University's Burnaby campus in Canada, the SFU Clean Hydrogen Hub is a new core research facility that brings together industry, community, academia and government partners to advance the clean energy transition. The project involves the development and deployment of a state-of-the-art one-half (1/2) megawatt AEM Electrolyser, custom-designed to meet the rigorous research and operational needs of the University.
One goal of SFU’s Hydrogen Hub is to build an anionic exchange membrane (AEM) water electrolyser using novel fluorine-free polymer membranes developed by Ionomr Innovations Inc. This research initiative is aimed at de-risking scalable, next generation hydrogen production technology. AEM technology is anticipated to reduce green hydrogen production costs while maintaining high performance and stability. The project is intended to investigate and validate the AEM technology at the 250 kW - 1 MW scale, which is a critical design window that enables scaling cost advantages for green hydrogen production.
This initiative underscores Cipher Neutron’s commitment to fostering sustainable technologies and supporting academic institutions. The high efficiency and robustness of electrolyser stacks can be instrumental in SFU’s ongoing research into hydrogen production, storage, and utilization. Cipher Neutron’s proprietary AEM technology can provide significant advantages, ensuring high purity hydrogen generation with superior energy efficiency.
Renewable Energy Research
The implementation of Cipher Neutron’s AEM Electrolyser technology at Simon Fraser University is expected to have a significant impact in the field of renewable energy research. Together, SFU and Cipher Neutron intend to collaborate to explore advanced AEM electrolyser technologies to enable scaling of low-cost green hydrogen production and foster innovation in the hydrogen sector.
Gurjant Randhawa, President & CEO of Cipher Neutron, stated, "We are delighted to collaborate with Simon Fraser University on this transformative project. Winning the ACAN is a testament to our innovative capabilities and the trust placed in us by such a prestigious institution. This project not only aligns with our mission to advance green hydrogen solutions but also reinforces our role as leaders in the renewable energy sector."
Jim Payne, Chairman and CEO of dynaCERT Inc., stated, "As a proud shareholder of Cipher Neutron, we are pleased to announce its groundbreaking project within a Canadian Clean Hydrogen Hub. This 250 kW single-stack AEM electrolyser project represents a significant initiative in green hydrogen technology. Cipher Neutron's cutting-edge AEM electrolysers are positioned at the forefront of innovation, designed to offer unique efficiency and scalability. We support the substantial positive impact this project can have on the hydrogen economy and the overall sustainability of our energy systems."
The Company also announces the grant of 9,065,250 options to purchase 9,065,250 common shares of the Company effective today to its employees, consultants, directors and officers under its option plan which was approved by the shareholders of the Company. The options have an exercise price of $0.20 per share and expire on July 12, 2029.
About Cipher Neutron Inc.
Cipher Neutron is a rapidly growing disruptive technology company focused on AEM Electrolysers 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 Electrolysers 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: www.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.
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, information relating to Cipher Neutron Inc., Ionomr Innovations Inc. and Simon Fraser University 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 nor 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, Chairman & CEO
