Press Release Jan 8 2008 - 100 more units sold
posted on
Jan 09, 2008 09:20AM
Fuel Efficient and Clean Emissions
Dynamic Fuel Systems Inc.: Dynamic Announces 100 Unit Increase To Purchase Order, Update On Deliveries And Acceleration Of Delivery Schedule Venture), ("Dynamic" or the "Corporation") is pleased to announce that Hydrogen Fuel Systems Inc. ("HFS") (formerly Specialties Marketing Group LLC) has increased its previously announced purchase order for 250 Jetstar(TM) units by an additional 100 units. A further 25 Jetstar(TM) units have been delivered in December 2007, bringing the total number of units shipped in the 4th quarter to 75, with the remaining 275 to be delivered as soon as possible. HFS has requested delivery of the balance of the order as soon as possible and Dynamic has accelerated its production schedule in order to satisfy this request. Mr. Jim LeBar, President of HFS, stated, "We have increased the size of our order and accelerated delivery in response to the tremendous increase in interest amongst trucking companies. We are installing these units as fast as we can and we are actively looking for ways to increase our installation capabilities and to that end we plan on sending two more installers for training at Dynamic's Pickering facility later this month". Mr. Thomas Fairfull, President and CEO of Dynamic, stated, "This additional order and accelerated delivery schedule is a tremendous boost for our company, its employees, partners and shareholders. I firmly believe that in retrospect, 2007 will prove to be the watershed year for the Corporation. We are well on our way to establishing ourselves as the leader in the portable hydrogen generation industry. The 3rd and 4th quarters were of particular importance to Dynamic, as we delivered on several key components of our business plan, namely the implementation of advisory committees, the restructuring of our debt facility, the development of a dealer platform and, most importantly, customer validation of our product, as evidenced by the sales made by our Canadian and US dealers. We begin 2008 with tremendous anticipation and excitement and we will continue to execute our plans for product enhancement, dealer support and customer development. We thank our customers, our staff, our dealers and indeed our shareholders for their continued support." 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. Thomas Fairfull, President and CEO, Dynamic Fuel Systems Inc 890 Brock Road South Pickering, ON L1W 1Z9 Source: Dynamic Fuel Systems Inc. (TSX-V: DYA) CONTACT: Thomas Fairfull, President and CEO, Dynamic Fuel Systems Inc Tel: +1 905 831 2440 e-mail: thomas@dynamicfuel.com WWW: http://www.dynamicfuel.com |