Jul. 19, 2011 (Newsfile Corp.) --
Oshawa, Ontario--(July 19, 2011) - Dynamic Fuel Systems Inc. (TSXV: DYA)("Dynamic" or the "Corporation"), provides updates on Sales Agent Agreement and Stock Option issuance.
The Corporation continues to strengthen as Mr. Andrew Greig increases his involvement with Dynamic as a Sales Agent and Mr. Rob Alexander joins the Corporation as Consultant. "The addition of Andrew to our sales team is a big step in supporting our efforts to expand into additional industries and we look forward to working with Rob in the crucial commercialization stages of our current HydraGen™ product offering," said Mr. Grove Bennett, President of Dynamic. "We are committed to strengthening the Corporation as a whole and welcome the knowledge, experience and business acumen that Andrew and Rob bring to our Corporation."
Andrew Greig is a visionary entrepreneur with over 25 years of success predicting the technology sector. Currently, Andrew is the founder and CEO of Vizzeco.com a global Google (NASDAQ:GOOG) business apps reseller, capitalizing upon the shift in the market from Microsoft (NASDAQ:MSFT) products to Google Business Solutions. Through Vizzeco.com, Andrew has relationships and partnerships with some of the most powerful companies in the world at introducing technology, managing efficiencies and implementing deployment. Andrew is comfortable in multiple jurisdictions, and thrives in global projects
Andrew has built world class teams and established key relationships with global personalities in a myriad of verticals. His vast networks of connections reach from the Presidents of Countries to an eclectic assortment of the ultra-rich and influential. Andrew leads with vision and an uncanny ability to create order from chaos. Constantly challenging the status quo, he makes no apologies for his voracious appetite for the kinds of change that propels humanity forward towards a healthier, greener future for all. Andrew has been featured in the most recent “WORLD LUXURY” JO LEE magazine. http://www.joleemagazine.com/pdf/JOLEE-Luxury-Issue-2011.pdf
Rob Alexander recently joined our consulting team to assist in the crucial stages of commercialization of the HydraGen ™ product for the Class 8 Transportation Industry. Rob has worked in the automotive industry with companies such as Hidden Hitch™ - towing products for North America, Algonquin Automotive - supplier of exterior automotive accessories, Morph Technologies - light-weight nano-crystalline metals for automotive, marine, aerospace, and consumer products and worked as a consultant for many companies such as McKinsey & Co.
Rob has degrees in Mechanical Engineering from MIT and a Computer Science degree from Princeton University that will be a valuable asset to the commercialization of the HydraGen™ and future product developments.
Dynamic announces the grant of an aggregate of 1,850,000 stock options to acquire common Shares in the capital of Dynamic. In consideration of their efforts to move the Corporation forward, Mr. Dave Sikkema, Mr. Geoff Sheerin and Mr. Grove Bennett each received 250,000 stock options exercisable at a price of $0.30 each and 250,000 stock options each exercisable at a price of $1.00.
Mr. Andrew Greig was granted 50,000 stock options and Mr. Rob Alexander was granted 125,000 stock options exercisable at a price of $.30 each and an additional 50,00 to Mr. Greig and 125,000 to Mr. Alexander exercisable at $1.00 each. Such options (and the common shares issuable upon exercise) are exercisable for a period of 5 years from the date of grant and will be subject to applicable securities law hold periods.
About Dynamic Fuel Systems Inc.
Dynamic Fuel Systems Inc. is an Oshawa, Ontario; Canada based energy Sector Company engaged in the sales & marketing, manufacture, distribution, installation and support of a transportable hydrogen generator aftermarket product targeted for use in the heavy tractor trailer industry. Its flagship product, the HydraGen™, is a patent-pending aftermarket retrofit solution that provides performance enhancement by mixing hydrogen into a vehicle's intake air resulting in greater fuel efficiency supporting on and off road industries. The scientific and product development of the HydraGen™ is consistent with the Corporation's on-going commitment and dedication to improve the Corporation's current and future product offerings. Its business was founded in 2001.
The Corporations emphasis during the on-going field trials to date was focused on delivering a HydraGen™ product that will survive the rigors of the transportation industry and to provide a reliable, sustainable & robust product to our end customers. The positive results of the on-going trials have permitted the Corporation to begin the commercialization of the HydraGen™ product. As our testing continues, the Corporation will provide specific and verifiable data confirming performance results, emission reductions and fuel savings.
The Corporations relationship with companies with specific knowledge of gas calibration systems and the equipment required to run infield testing, continue to offer the Corporation opportunities for growth and continued development of the HydraGen™ product for additional industries.
Applications of our new technology are scheduled to commence testing on large diesel engines such as railroad, ocean, transit and equipment used in the oil and gas industries. This testing will provide an increase data base of diesel engine types and provide a design reference for application of the HydraGen™ product for those specific applications.
We are at the early stages of exploration in these fields and look forward to seeing the impact of the new HydraGen™ technology within these industries. Our focus is to provide solutions to power generating equipment with major companies, where the goal of a greener environment is at the forefront.
This release includes forward looking statements, which are based on certain assumptions and reflects management's current expectations. These forward looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; 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; changes in laws and regulations, includes codes and standards, intellectual property rights, and tax matters; 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. The Corporation disclaims any intention or obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.
For further information, please contact:
Mr. Grove Bennett
President & Corporate Secretary
Dynamic Fuel Systems Inc.
1288 Ritson Road Nth, Suite 385
Oshawa, Ontario L1G 8B2
905-831-2440 x 613
www.dynamicfuel.com