dynaCERT Receives Progress Update from Verra
TORONTO–(BUSINESS WIRE)–$DYA #GHG—dynaCERT Inc. (TSX: DYA) (OTCQX: DYFSF) (FRA: DMJ) (“dynaCERT” or the “Company”) is pleased to announce that it has been notified of the recent progress update in dynaCERT’s application under Verra’s Verified Carbon Program (the “VCS Program”).
VVB Audit:
Under the VCS Program, auditors known as validation and verification bodies (VVBs) are tasked with assessing projects against the VCS Program rules and the requirements of the applied methodology.
Following the recently announced publication of dynaCERT’s proposed methodology in respect of its Carbon Credit certification (See Press Release dated October 18, 2021), Verra has indicated to dynaCERT that the next step will be its VVB audit. Verra is submitting a request for proposals to their list of auditors this week.
Independent Auditing:
All VCS projects are subject to desk and field audits by both qualified independent third parties and Verra staff to ensure that standards are met and methodologies are properly applied.
VVBs are qualified, independent third parties which are approved by VCS to perform validation and verification. This independent assessment process is critical to ensuring the integrity of the projects registered with the VCS Program.
Currently, more than twenty VVBs located across five continents are approved under the VCS Program. VVBs are accredited to work in specific sectoral scopes, meaning their expertise is geared directly toward the types of projects they audit.
VVBs are eligible to provide validation and verification services under the VCS Program if they have signed the required agreement with VCS and are accredited by a VCS-recognized accreditation body.
The VCS Program:
The VCS Program is the world’s most widely used voluntary GHG program. Nearly 1,700 certified VCS projects have collectively reduced or removed more than 630 million tonnes of carbon and other GHG emissions from the atmosphere.
Jean-Pierre Colin, Executive Vice President & Director of dynaCERT, stated, “In Canada and worldwide, Carbon Credits and Carbon Offsets play a paramount role in advancing a cleaner planet. dynaCERT’s commitment to working with Verra to achieve global Greenhouse Gas reductions aligns with the stated objectives of the United Nations which were approved by over 160 Nations globally in Article 6 of the Paris Agreement. Our GHG reduction initiatives also support dynaCERT’s target markets such as mining, oil and gas, transportation, utilities, municipalities, sovereign governments, construction, marine, rail, power generation, building, farming, heavy equipment industries and many others.”
About Verra:
Verra is a global leader helping to tackle the world’s most intractable environmental and social challenges by developing and managing standards that help the private sector, countries, and civil society achieve ambitious sustainable development and climate action goals. Verra’s global standards and frameworks serve as linchpins for channeling finance towards high-impact activities that tackle some of the most pressing environmental issues of our day. Website: www.verra.org
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.
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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. 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
Contacts
Jim Payne, CEO & President
dynaCERT Inc.
#101 – 501 Alliance Avenue
Toronto, Ontario M6N 2J1
+1 (416) 766-9691 x 2
jpayne@dynaCERT.com
Investor Relations
dynaCERT Inc.
Nancy Massicotte
+1 (416) 766-9691 x 1
nmassicotte@dynaCERT.com
