TORONTO, ON / dynaCERT Inc. (TSX: DYA) (OTCQX: DYFSF) (FSE: DMJ) (“dynaCERT” or the “Company”) and Cipher Neutron Inc. ( “CN” or “Cipher Neutron”) are pleased to announce that the two companies, Safe Energy General Trading LLC, UAE and Astec Valves and Fittings Private Ltd, India (collectively “Astec”) have entered into a Memorandum of Understanding (Memorandum of Understanding, “MOU”), under which dynaCERT and CN will commercialize cutting-edge hydrogen technologies, including anion exchange membrane (AEM) electrolyzer technology, to corporations, utilities and governments in India, Europe and the Middle East to leverage the strong presence of Astec in these regions.
The MOU also states that CN and dynaCERT will advance testing of Astec’s proprietary products for use in CN and dynaCERT ‘s hydrogen electrolysers and other hydrogen-related technologies to deliver better, more efficient electrolysers and lower-cost green hydrogen for industrial applications and clean Develop energy storage and generation that meet the unique needs of Astec’s customers.
Critical for reliability and safety, large-scale, high-pressure green hydrogen plants utilizing CN and dynaCERT ‘s AEM electrolyser technology require experienced engineering solutions such as those from Astec, specializing in high-pressure flow engineering and joint reduction.
Astec
Astec is an engineering solutions provider specializing in high-pressure fluid engineering and joint reduction for industries such as green hydrogen, rail, automotive, and oil & gas. The company was founded in 1965 and has since gained the trust of leading energy and infrastructure companies such as Reliance, Adnoc, Siemens and many others. The key regions in the Company’s focus include India, the Middle East/North Africa and Europe.
In a recent study with Reliance Industries developing a $12 billion petrochemical plant, Astec successfully eliminated over 50% of the joints, removing 500,000 joints from the system, making it safer and greener.
Astec’s respected regular customers include ADNOC, PDO, KNPC, EMERSON, YOKOGAWA, HONEYWELL, ABB, GE, Rolls Royce, BG, BP, RELIANCE, ESSAR, CAIRN, EIL, SAMSUNG, DOOSAN, HYUNDAI, TOYO, AKER, PETROFAC and many more.
The Statement of Intent
The aim of the non-binding declaration of intent is to:
- to promote collaboration between Astec, CN and dynaCERT on mutually beneficial deals in Europe, the Middle East and India, including Dubai (the “Region”);
- promote trade in anion exchange membrane (AEM) electrolyzers and other hydrogen technologies in the region; and
- to explore engineering, procurement and construction (EPC) opportunities for green hydrogen projects in the region; and
- to explore how Astec can distribute CN and dynaCERT products in the region on a non-exclusive basis; and
- to support each other in exploring green hydrogen strategies with policy makers in the region; and
- explore the possibility of deploying state-of-the-art green hydrogen technologies and products to be co-manufactured and developed by Astec, CN and dynaCERT in the region, and
- seek mutually acceptable investments in local manufacturing in the region and for local demand, under license where appropriate.
CN, dynaCERT and Astec will work together on:
- Acquisition and marketing by Astec in the region of the AEM hydrogen electrolyzers jointly developed by CN and dynaCER T;
- Promote the testing of Astec’s advanced proprietary products for use in CN and dynaCERT hydrogen electrolyzers and other hydrogen technologies with a view to developing better, more efficient electrolyzers and lower-cost green hydrogen for industrial applications, and clean energy storage and generation; and
- Any other suitable form of cooperation that may be agreed between dynaCERT , CN and Astec.
Connecting Green Hydrogen MENA 2023
Safe Energy & Astec Group Companies are leading exhibitors at Connecting Green Hydrogen MENA 2023 in Dubai, where they will showcase CN and d ynaCERT ‘s AEM technology .
Connecting Green Hydrogen MENA 2023 (CGHM2023) is the premier event for accelerated green hydrogen development in the Middle East and North Africa, bringing together policymakers, energy producers, investors, suppliers and technical service providers at an international level to build business partnerships. See: https://www.mena.gh2events.com/
Dr Kiranbir Singh Kohli, Managing Director of Astec, states: “We are very impressed with the AEM electrolyser technology and the achievements of Cipher Neutron in collaboration with dynaCERT in delivering cost-effective green hydrogen at scale. Through this partnership, we aim to further scale their developments with the engineering and growth strategy teams of Astec and Safe Energy to revolutionize the green hydrogen industry in India, the Middle East and Europe.”
Gurjant Randhawa, M.Eng., P.Eng., President and CEO of Cipher Neutron, commented, “The primary focus of Cipher Neutron and dynaCERT is to reduce the long-term capital and operating costs of producing green hydrogen for a wide range of commercial applications and industrial applications, including in Dubai, as well as in India and throughout the Middle East. Our MoU with Astec opens the door to cross-industry collaboration where advanced science and practical engineering solutions can be shared and optimised.”
Read the most up to date Fuel Cell and Hydrogen Industry news at FuelCellsWorks
Jim Payne, President and CEO of dynaCERT states, “ dynaCERT is proud to expand its relationship with Astec. Astec is a leader in the field of high-pressure flow technology used in conjunction with the AEM electrolysers jointly developed by CN and dynaCERT . Important to and consistent with the global economy, the advances Astec is driving through its strong relationships with governments and in the growing green hydrogen industry in Dubai and Europe, Middle East and India, particularly in engineering, procurement and construction with the joint strategy of CN and dynaCERTto take a very strong position to become a global leader in the hydrogen economy – not only with AEM electrolysers, but also in many green hydrogen infrastructure projects.”
