Dynamic Announces New Product "HydraGen(TM)" Development
Last Update: 11/29/2010 9:13:47 PM
OSHAWA, Ontario, Nov 29, 2010 (GlobeNewswire via COMTEX) -- Dynamic Fuel Systems Inc. (DYA) ("Dynamic" or the "Corporation") is pleased to announce that it has entered into field trials of a new product called "HydraGen(TM)". This product is a hydrogen generator aftermarket retrofit for diesel fuelled engines supporting the on road and off road industries. The scientific and product development of the HydraGen(TM) is consistent with the corporation's on-going commitment and dedication to improve the Corporation's product offerings.
Scientific research was initiated the last quarter of 2009 with the goal of better understanding hydrogen gas injection into transport truck diesel engines. To assist in the research, Dynamic partnered with a variety of companies with specific knowledge of gas calibration systems and who had the equipment required to run infield tests. The scientific data was collected and used to develop a new product specification for hydrogen gas injection systems. HydraGen(TM) is a result of this research.
The scientific research and engineering development (SR&ED) of The HydraGen(TM) product is significantly different from previous systems, the system is lighter, more compact and costs less to manufacture. The Corporation remains committed to being an Intellectual Property (IP) company and this contractual agreement with our Integrated Product Team (IPT) partner is a testament to this directional change.
The corporation has continued to reduce operating expenses, while focusing on the scientific and product development of the HydraGen(TM). As such, the Corporation has divested itself from past product offerings by reducing current inventory and working towards the development and full scale commercialization of the New HydraGen(TM) as its flagship product in early 2011.
Grove Bennett, Vice President of Dynamic, comments, "We are excited with the development and advancements we have made with the new HydraGen(TM) and believe our customers will be satisfied with the product and its offerings. This represents a tremendous directional change in the Corporation and we must look forward and ensure we provide our customers with a reliable, sustainable and robust product that enhances their ability to capitalise on the improved value proposition."
The Corporation will conclude its field trials prior to manufacturing and anticipates commercialisation in the 1st quarter of 2011.
