dynaCERT Inc. and Cipher Neutron Inc. announced that they have concluded a Memorandum of Understanding with Safe Energy General Trading L.L.C., UAE and Astec Valves and Fittings Private Ltd., India, whereby dynaCERT and CN will further market Hydrogen technology, including AEM Electrolyser technology, to businesses, utilities and governments in India, Europe and the Middle East in support of Astec's robust footprint in these regions. The MOU also provides that CN and dynaCERT will be advancing the testing of Astec's proprietary products for use in hydrogen Electrolysers and other hydrogen related technologies of CN and dynaCERT to develop superior, more efficient Electrolysers and lower cost green hydrogen for industrial applications and clean energy storage and generation to meet the particular requirements of Astec's clients. Critical for reliability and safety, high-pressure-high-volume green hydrogen plants utilising CN & dynaCERT's AEM Electrolyser technology, will require experienced engineered solutions such as those of Astec that specialize in high-pressure flow technologies and joint reductions.

The objective of the non-binding Memorandum of Understanding is: to promote interaction between Astec, CN and dynaCERT in mutually beneficial businesses in Europe, the Middle East and India, including Dubai (the “Region”); to promote trade of anion-exchange-membrane (AEM) electroliers and other hydrogen related technologies in the Region; and, to explore possible Engineering, Procurement and Construction (EPC) of green hydrogen projects in the Region; and, to explore ways whereby Astec may distribute on a non-exclusive basis products of CN and dynaCERT in the Region; and, to assist each other in exploring green hydrogen strategies with policy makers in the Region; and, to explore the possibility of provisioning of art green hydrogen technology and products to be Manufactured and Engineered jointly by Astec, CN and dynaCERT in the Region; and, to seek mutually agreeable investment in local manufacturing in the Region and for local demand under license, where applicable. CN, dynaCERT and Astec will collaborate regarding the following: The purchase and marketing of CN and dynaCERT's jointly developed AEM hydrogen Electrolysers by Astec in the Region; Advancing the testing of Astec's advanced proprietary products for use in hydrogen Electrolysers and other hydrogen related technologies of CN and dynaCERT with a view to developing superior, more efficient Electrolysers and lower cost green hydrogen for industrial applications and clean energy storage and generation; and, Any other appropriate mode of interaction that may be further agreed upon between dynaCERT, CN and Astec.