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dynaCERT Provides Updates on Its Strategic Alliance With Mosolf Group

dynaCERT Inc. (TSX VENTURE:DYA) (OTCQX:DYFSF) (FRA:DMJ) ("dynaCERT" or the "Company") announces that its strategic alliance with Mosolf SE & Co. AG ("Mosolf"), first announced by the Company in a news release dated October 16, 2019 (and commented upon in its subsequent Management Discussion & Analysis in 2020 Q1 and Q2), has been terminated. Though discussions pertaining to this strategic alliance continued throughout 2021, the Company has recently recognized the termination of the strategic alliance from Mosolf. The Company's strategic alliance with Mosolf initially included a purchase order for 1,000 HydraGEN units, a dealership agreement for Germany and an understanding to negotiate towards a joint venture for the passenger car after-market in Europe. Though the Company enjoyed a positive relationship with the Mosolf group and its principals, the objectives of the initial arrangement have not materialized, as only 48 units out of the 1,000 units under the foregoing purchase order were delivered. As with several other orders received by the Company in late 2019 and early 2020, the COVID-19 pandemic had a significant impact on this relationship, both in terms of access to the potential markets and clients of Mosolf, and in terms of the Company's limitations on production (and availability of inputs) throughout the lockdowns imposed by the Government of Ontario throughout 2020 and into 2021. At the same time, the materiality of this dealership declined in 2020 because the overall number of dealers increased significantly (with dynaCERT now having over 45 dealers globally, seven (7) of which are located and operate in Europe), and because of the increasing relative importance of the Company’s relationship with its other dealers and agents that operate in multiple centres globally. These European dealership arrangements are entered into between the Company's European subsidiary, dynaCERT GmbH Inc. (which operates out of Germany, with a total of five (5) dedicated employees) and cover various European countries, including Germany, Austria, Netherlands and Benelux, Italy, Portugal, Latvia and the Baltics, the UK and Ireland.

The Company notes that the disclosures in this press release are provided to comply with a request by Staff of the Ontario Securities Commission following a continuous disclosure review.

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, refrigerated trailers, off-road construction, power generation, mining and forestry equipment, marine vessels and railroad locomotives. Website: www.dynaCERT.com.

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Nachrichtenquelle: Business Wire (engl.)
16.10.2021, 01:13  |  444   |   |   

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dynaCERT Provides Updates on Its Strategic Alliance With Mosolf Group dynaCERT Inc. (TSX VENTURE:DYA) (OTCQX:DYFSF) (FRA:DMJ) ("dynaCERT" or the "Company") announces that its strategic alliance with Mosolf SE & Co. AG ("Mosolf"), first announced by the Company in a news release dated October 16, 2019 (and commented …

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