Dynetek Industries Ltd. Announces Research and Development Contract with two Key-Vehicle OEM's for a new, innovative and light weight Hydrogen Storage System for Fuel Cell Vehicles



    CALGARY, Sept. 10 /CNW/ - Dynetek Industries Ltd. ("Dynetek"), a leader
in developing, producing and marketing lightweight compressed natural gas
(CNG) cylinders and compressed hydrogen cylinders, announced today that it has
signed a research and development contract for a new, innovative and light
weight Hydrogen storage system for Fuel Cell Vehicles (FCV's). The development
will include improvements in the cylinder weight, performance and costs. The
improvements envisioned in this research project will bring us a step closer
to storage targets set out by the U.S. Department of Energy.
    Two large international vehicle Original Equipment Manufacturers (OEM's)
are funding 50% of the costs of the project for total contributions of USD
$750,000.
    The Contract calls for research, prototype establishment, prototype
development and design verification testing, to be completed by late 2009.
    "This contract reflects Dynetek's reputation in system development and
supply of entire system solutions" said Dr. Christian Rasche, President and
CEO, "and is an important step in the development of the next generation of
hydrogen storage".

    Dynetek Industries Ltd. designs, produces and markets one of the lightest
and most advanced fuel storage and refueling systems for compressed natural
gas, low emission vehicles and compressed hydrogen, zero-emission fuel cell
vehicles. Dynetek is recognized around the world for its solutions-of-choice
to the alternate fuel vehicle sector, evidenced by strategic relationships
with major manufacturers around the globe. Dynetek is listed on the Toronto
Stock Exchange, symbol: DNK.

    Certain information contained herein may constitute forward-looking
statements under applicable securities laws. Such statements are subject to
known or unknown risks and uncertainties that may cause actual results to
differ materially from those anticipated or implied in the forward-looking
statements. Investors are encouraged to review the "Risk Factors" section of
the Management's Discussion and Analysis for the most recently completed
financial year and interim periods for a discussion of risks that could affect
the Company's operations and financial results. Forward-looking statements are
based upon management's assumptions, expectations and estimates at the time
that such statements are made. Dynetek does not update forward-looking
statements should circumstances change or management's assumptions,
expectations or estimates change, except as required by securities laws.

    %SEDAR: 00014127E




For further information:

For further information: Dr. Christian Rasche, President and Chief
Executive Officer, (403) 720-0262 or 1-888-396-3835 (toll free in North
America), www.dynetek.com

Organization Profile

Dynetek Industries Ltd.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890