Dynetek signs MOU with William J. Clinton Foundation to supply Hydrogen Systems for Fuel Cell Buses



    CALGARY, Nov. 1 /CNW/ - Dynetek Industries Ltd. (TSX:DNK) a world leader
in developing, manufacturing and marketing lightweight compressed hydrogen
storage cylinders, announced today that it has partnered with the Clinton
Climate Initiative to provide this technology to cities.
    The Clinton Climate Initiative (CCI) is a project of the William J.
Clinton Foundation. CCI will utilize the skills that the Clinton Foundation
has developed in worldwide mobilization to confront crises such as AIDS, to
help initiate programs that directly result in substantial reductions in
greenhouse gas emissions. In July 2006, the Clinton Foundation entered into a
partnership with the Large Cities Climate Leadership Group. The Group consists
of 40 of the largest urban areas in the world whose collective population
exceeds 350 million people. The CCI's intent is to pool demand in the Large
Cities in a way that can accelerate the development of markets for efficient
and sustainable energy technologies and to simultaneously work with suppliers
to help reduce the cost of sustainable energy products that are of interest to
cities and thereby decrease economic impediments to wide adoption.
    Dynetek is recognized as a world leader in providing Hydrogen Storage
Systems for Fuel Cell buses. Dynetek provides complete system engineering,
making it very easy for bus manufacturers to implement a hydrogen vehicle
program. Dynetek has provided fuel storage systems since 1995 for more than 40
Hydrogen Fuel Cell buses with major bus manufacturers the world over. These
systems have operated on buses in a wide variety climates from the extreme
cold conditions of Winnipeg Canada to the very warm climate of Perth
Australia.
    "We are very pleased to have been selected to participate in the Clinton
Climate Initiative to make the commercialization Hydrogen Fuel Cell Buses a
reality," said Christian Rasche, Dynetek's President and CEO. Hydrogen Fuel
Cell vehicles have experienced a recent resurgence, due to the high price of
fossil fuels.
    "Climate change is a global issue that we must address immediately if we
are to reverse its catastrophic effects," said President Clinton. "I am
pleased that the US Conference of Mayors, Wal-Mart and many businesses are
working with my foundation to supply energy efficient and clean energy
products. By offering these products at a discounted rate, we can ensure that
more cities and citizens have access to them and that the market for clean
energy technology will grow. Together, I hope that we can have a measurable
impact on greenhouse gas emissions around the world."

    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 in the Company's most recent Annual
Report and interim reports 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 law.

    About the Clinton Climate Initiative
    Building on his long-term commitment to preserving the environment,
President Clinton launched the Clinton Foundation's Climate Initiative in
August 2006 with the mission of applying the Foundation's business-oriented
approach to the fight against climate change in practical, measurable, and
significant ways. In its first phase, CCI is working with the C40 Large Cities
Climate Leadership Group to accelerate efforts to reduce greenhouse gas
emissions. CCI team members have visited nearly all of these cities and are
working with them to define projects and take action.

    %SEDAR: 00014127E




For further information:

For further information: please visit our website at www.dynetek.com or
contact: Dr. Christian Rasche, President and CEO, Dynetek Industries Ltd.,
Main Phone: (403) 720-0262, Toll Free: 1-888-396-3835 (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