DynaCERT (TSX: DYA), a Toronto-based company, has developed a technology called HydraGEN that could significantly reduce emissions by improving the performance and fuel efficiency of diesel engines used in mining machinery and equipment.
The HydraGEN technology is about the size of a suitcase for use in trucks, with larger models for use in more significant mining machinery and equipment, and the company estimates the device could reduce the carbon footprint of a caterpillar 797F dump truck by over 530,000 tonnes carbon dioxide equivalent (CO2e) per year and save approximately 2,618 hours of operational time in fuel.
Over the past year, the company has been marketing the technology worldwide and now has a presence in North America, Europe, Asia and the Middle East. In February, it was ranked the number one performing company across all sectors on the 2020 TSX Venture 50 list for its performance in 2019, which saw a 284% increase in its share price and a 384% increase in its market capitalization to $185.36 million.
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