News update
posted on
Oct 19, 2007 05:35AM
Fuel Efficient and Clean Emissions
News from Filing Services Canada
09:00 EDT Friday, October 19, 2007
FSC / Press Release
DYNAMIC PROVIDES UPDATE RE SIGNIFICANT PURCHASE ORDER AND ANNOUNCES RECEIPT OF NEW PURCHASE ORDER
Pickering, Ontario CANADA, October 19, 2007 /FSC/ - Dynamic Fuel Systems Inc. (DYA - TSX Venture), ("Dynamic" or the "Corporation") is pleased to report that it has completed delivery of the first 25 Jetstar(TM) units under its previously announced purchase order for an aggregate of 250 such units and has also received a new purchase order from its dealer located in Western Canada for 10 Jetstar(TM) units.
The purchase order for 250 units (which was announced by the Corporation via press release on October 10, 2007) was arranged through Dynamic's United States dealer, Specialties Marketing Group LLC ("SMG"). The purchaser of all 250 units is Equity Transport, a major trucking fleet operator whose principal offices are located in Grand Rapids, Michigan. Equity Transport initially acquired a Jetstar(TM) unit so that it could conduct its own testing of the product, which it had commissioned through arms' length parties that it engaged specifically for that purpose. This review process culminated with Equity Transport's purchase order for 250 Jetstar(TM) units. Equity Transport has agreed to make those results available to the Corporation and the Corporation's technical staff will compile a summary of those results for review and validation by an arms' length, independent party. That summary report will be made available upon completion of that independent review. Dynamic will also use the statistical data accumulated through the testing process commissioned by Equity Transport to further support and enhance the Jetstar(TM) units' performance.
Alan Bishop, President of Equity Transport stated that "the Jetstar(TM) far exceeded our expectations and helps us to accomplish our goal of becoming the greenest trucking company in North America. We look forward to many years of doing business together with SMG and Dynamic".
Dynamic is also pleased to advise that it has received significant successful feedback from other market participants subsequent to the announcement of this purchase order and that it has been engaged in multiple conversations with other large fleet operators and installation facilities across the United States. Further updates on such conversations and dealings will be provided to the extent that they result in additional purchase orders for Jetstar(TM) units. Jim Lebar, President of SMG stated that "the business discussions and demonstrations that have been conducted over the last 4 months with Equity Transport and with other target market prospects have been extremely exciting and encouraging and with the execution of our first substantial Jetstar order, we are optimistic that this is the first concrete step on our road to success." Both Equity Transport and SMG have indicated that they intend to make a formal press announcement in conjunction with one another in the State of Michigan for the purpose of further expanding upon their testing procedures and setting forth their strategic plan for implementation in respect of the large fleets that these 250 Jetstar(TM) units will be installed upon.
Dynamic is also pleased to announce that it has received a new purchase order from its dealer located in Western Canada for 10 Jetstar(TM) units. Tom Fairfull, President and CEO of Dynamic remarked "with the success of the Equity Transport purchase order and the order received from our dealer in Western Canada, we feel that the dealer program is off to an exceptional start. This news has fueled the industry with awareness of our company and reaffirms the direction that we are taking in implementing a strategic dealer program across North America."
Mr. Fairfull also noted that "the Corporation will be attending the 2007 Orlando ATA Management Conference and Exhibition from October 20 - 23 and anyone wishing to arrange an appointment to meet with the Corporation at that exhibition is invited to make an appointment through the Corporation's head office."
About Dynamic Fuel Systems Inc.
Dynamic Fuel Systems Inc. is a Pickering, Ontario based energy sector company engaged in the manufacture, distribution, installation and marketing of a transportable hydrogen generator retrofit targeted for use in the heavy tractor trailer industry. Its flagship product, the Jetstar(TM), is a patent-pending aftermarket retrofit solution that provides combustion enhancement by mixing hydrogen and oxygen into a vehicle's intake air to provide the engine with a more complete burn of the fuel in its internal combustion engine. Its business was founded in 2001 and more information about its products can be viewed at its website at www.dynamicfuel.com
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.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Thomas Fairfull
President and CEO
Dynamic Fuel Systems Inc.
890 Brock Road South
Pickering, ON L1W 1Z9
905-831-2440
thomas@dynamicfuel.com
www.dynamicfuel.com