dynaCERT Inc. DYA DYFSF DMJ ("dynaCERT" or the "Company") and Cipher Neutron Inc. ("Cipher Neutron") applaud the recently announced changes proposed in the Canadian Government's Budget of March 28, 2023 ("Budget 2023") especially the inclusion of Tax Credits for Green Hydrogen Electrolysers (collectively the "Clean Tech Incentives").
The new Clean Tech Incentives can enhance the financial potential of fast-growing Clean Technology companies that foster Clean Technology in Canada to reduce global Greenhouse Gas Emissions ("GHG's"). The Clean Tech Incentives in Budget 2023 are seen as being in accordance with the objectives of the Paris Agreement of the United Nations, which is a legally binding international treaty on climate change.
Importance of Green Hydrogen Electrolysers:
Collectively, dynaCERT and Cipher Neutron have been designing and producing Green Hydrogen Electrolysers for over twenty (20) years in Canada.
dynaCERT has been featuring commercially available Hydrogen-on-Demand Alkaline Electrolysers to the global marketplace with its renowned HydraGEN™ Technology which includes a line of models designed to reduce fuel consumption in diesel engines and reduce Carbon Emissions and other GHG's.
In addition, in the past few years, Cipher Neutron and dynaCERT have, collectively, through their ground-breaking innovative Research & Development efforts, developed Green AEM Electrolysers designed to offer Canadian companies, as well as international companies, a solution to generate high volume high capacity Green Hydrogen in pressurized form to be applied to big-scale Hydrogen projects, by producers of Green Ammonia in the fertilizer industry, oil & gas industries, mining, smelting and chemical industries.
The future emerging markets of the Green Hydrogen Economy such as fuel cells and hydrogen internal combustion engines, steel manufacturing and blending of natural gas with Green Hydrogen will benefit from our Green AEM Electrolysers.
Our AEM Electrolysers are designed to feature lower capital costs, lower operating costs and no use of expensive and GHG-producing Platinum-group metals which could conceivably experience the risks of supply-chain and pricing issues. Our AEM Electrolysers have achieved a staggering eighty-two percent (82%) efficiency, which means that they produce more Green Hydrogen using the same amount of power as competing electrolysers while at a lower AEM Electrolyser cost.
Enhancing Growth of Canadian Companies:
Cipher Neutron and dynaCERT believe that the Clean Tech Incentives in Budget 2023, when successfully implemented, can greatly enhance the much-needed tax assistance for companies featuring Clean Technology, while at the same time contributing to the Canadian Government's objectives of reducing Canadian GHG's and enhancing rapid Canadian economic growth from coast to coast.
Successful Consultative Meetings:
dynaCERT, Cipher Neutron and their principals have been meeting for more than three (3) years with cabinet ministers, elected Members of Parliament, as well as senior officials within the government to advance, and assist with, the implementation of Clean Technology tax deferrals and tax credits. dynaCERT and Cipher Neutron have had face-to-face meetings, conversations and correspondence with political parties on all sides both in Canada and internationally to help bring Clean Technology tax incentives to fruition. dynaCERT and Cipher Neutron continue to support the government's openness in a consultative process on the design details of the tax matters in Clean Technology and see consultative measures as a rational and important step to continue to expand Clean Technology in Canada.
Gurjant Randhawa, President & CEO of Cipher Neutron, stated, "The Government of Canada's green hydrogen initiatives reflect the global trend of other government heads around the world, with whom we have communicated, who are also concerned about reducing GHG's of our planet. We are encouraged by such government policies that foster the expected exponential global growth in Green Electrolyser utilization because they widely validate the essential need for new technologies, such as our AEM Electrolysers and Reversible Fuel Cells, to accomplish Net-Zero targets set out by such leaders in numerous previous announcements."
Jean-Pierre Colin, Executive Vice President & Director of dynaCERT, stated, "It is important to note that the jointly developed AEM Green Hydrogen Electrolysers of Cipher Neutron & dynaCERT are initially targeted to be designed and assembled in Canada at dynaCERT's manufacturing facilities in Toronto. On behalf of dynaCERT and Cipher Neutron, I extend our warm thanks and applaud the Canadian Government and all of the politicians and Members of Parliament on all sides, and the senior government officials who put forward strong climate change action by endorsing new Clean Technology Incentives and Green Electrolysers."