-- dynaCERT (DYA.TO), which rose by more than 10% to near 52 week highs last Friday, has commissioned its first pilot installation in Vietnam to assess its HydraGen technology there, the company said on Monday.
The company signed an agreement with an oil and gas company in Vietnam to conduct joint pilot projects to assess the scalability of the technology within Vietnam's state government majority-controlled energy infrastructure, a statement noted.
dynaCERT also signed a Memorandum of Understanding (MoU) with Ho Chi Minh City Vietnam University of Technology (HCMUT) regarding future project collaboration and joint testing activities.
Vietnam has a fleet of more than 3.5 million heavy-duty vehicles, buses, and construction machines, most of which are powered by diesel engines. HydraGEN technology uses electrolysis to split distilled water into hydrogen and oxygen which are then fed into the combustion process of a diesel engine, resulting in an optimized and more complete fuel combustion. This approach cuts fuel consumption by usually over 5% while also cutting pollutant emissions such as carbon oxides and particulate matter, dynaCERT said.
"The response to our technology in Vietnam exceeds our expectations. It is clear that the country is seeking immediately available solutions to bridge the gap between economic growth and environmental responsibility. Our discussions with government officials and industry representatives have demonstrated that HydraGEN comes at exactly the right time to sustainably increase the efficiency of Vietnam's logistics and transport fleets," said DynaCERT president Bernd Krueper.
dynaCERT shares closed up $0.015, to $0.16, near a 52-week high, on the Toronto Stock Exchange on Friday.