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dynaCERT Inc., together with its subsidiaries, engages in the design, engineering, manufacture, testing, and distribution of transportable hydrogen generator aftermarket products in Europe, Canada, and internationally. The company's patent-pending retrofit product provides performance enhancements by injecting hydrogen and oxygen into the air intake manifold resulting in fuel efficiency and reduced carbon emissions in internal combustion engines. It also offers HydraGen technology that turns water into hydrogen and oxygen through electrolysis for the after-market long-haul trucking industry. The company's products have applications in various market segments comprising trucks, reefer trailers, buses, heavy construction, mining equipment, electrical power generators, marine, and locomotive. It sells its products through dealers. The company was formerly known as Dynamic Fuel Systems, Inc. and changed its name to DynaCERT Inc. in January 2013. dynaCERT Inc. was incorporated in 2004 and is headquartered in Toronto, Canada.
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DynaCERT Inc. develops on-board electrolysis systems (HydraGEN) that inject hydrogen/oxygen into diesel engines to reduce emissions and improve fuel economy for trucking, mining, marine and stationary power customers. Long-term growth drivers include tightening emissions regulations and potential fleet demand for retrofit solutions as electrification progresses unevenly. The company appears positioned to benefit from patent protection and international distribution efforts.
Key risks include limited commercial scale, recurring liquidity and execution challenges, competition from electrification and after-treatment solutions, and reliance on regulatory approvals and third-party distributors.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Income before tax | -10.42M | -10.16M | -8.63M | -10.96M | -16.32M |
| Net income | -10.42M | -10.16M | -8.63M | -12.16M | -16.33M |
| Selling general administrative | 5.82M | 6.32M | 3.86M | 7.20M | 9.27M |
| Selling and marketing expenses | 0.98M | 1.04M | 1.06M | - | - |
| Gross profit | -4.24M | -1.00M | -0.61M | -1.14M | -1.46M |
| Reconciled depreciation | 0.78M | 0.85M | 0.93M | 1.03M | 0.90M |
| Ebit | -8.99M | -9.95M | -7.86M | -9.76M | -16.29M |
| Ebitda | -8.22M | -9.09M | -6.93M | -8.72M | -15.40M |
| Depreciation and amortization | 0.78M | 0.85M | 0.93M | 1.03M | 0.90M |
| Operating income | -8.99M | -9.63M | -7.54M | -9.76M | -16.29M |
| Other operating expenses | 9.64M | 11.24M | 6.61M | 11.48M | 13.74M |
| Interest expense | 0.36M | 0.21M | 0.77M | 1.20M | 0.01M |
| Interest income | - | 0.02M | 0.01M | 0.01M | 0.03M |
| Net interest income | -0.36M | -0.21M | -0.77M | 0.03M | 0.30M |
| Income tax expense | - | - | -0.00M | 1.20M | 0.01M |
| Total revenue | 0.64M | 1.60M | 0.45M | 1.15M | 0.76M |
| Total operating expenses | 4.75M | 8.64M | 5.55M | 9.19M | 11.52M |
| Cost of revenue | 4.88M | 2.60M | 1.06M | 2.29M | 2.22M |
| Total other income expense net | -1.43M | -0.52M | -1.09M | -1.20M | -0.03M |
| Net income from continuing ops | -10.42M | -10.16M | -8.63M | -10.96M | -16.32M |
| Net income applicable to common shares | - | -10.16M | -8.63M | -10.96M | -16.32M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Total assets | 7.92M | 3.43M | 5.63M | 7.13M | 16.81M |
| Intangible assets | 0.22M | 0.66M | 0.79M | 0.89M | 0.96M |
| Other current assets | 0.22M | - | 0.12M | 0.29M | 0.49M |
| Total liab | 9.06M | 5.67M | 5.57M | 3.01M | 3.30M |
| Total stockholder equity | -1.14M | -2.24M | 0.06M | 4.11M | 13.52M |
| Other current liab | 1.70M | - | 0.40M | 1.50M | 1.33M |
| Common stock | 110.26M | - | 94.76M | 90.46M | 90.63M |
| Capital stock | 110.26M | 100.31M | 94.76M | 90.46M | 90.63M |
| Retained earnings | -119.14M | -111.37M | -104.47M | -98.47M | -91.05M |
| Other assets | - | - | 0.00M | - | - |
| Cash | 1.96M | 0.09M | 0.25M | 0.16M | 8.34M |
| Cash and equivalents | - | - | - | - | 8.34M |
| Total current liabilities | 5.66M | 5.61M | 5.01M | 2.05M | 1.89M |
| Current deferred revenue | - | - | 0.48M | 0.11M | 0.16M |
| Net debt | 4.02M | 0.87M | 1.65M | 1.25M | -6.53M |
| Short term debt | 2.58M | - | 1.35M | 0.44M | 0.40M |
| Short long term debt | 2.12M | 0.96M | 0.91M | - | - |
| Short long term debt total | 5.98M | - | 1.90M | 1.40M | 1.81M |
| Other stockholder equity | - | - | - | 12.12M | 13.93M |
| Property plant equipment | - | - | - | - | 3.81M |
| Total current assets | 4.36M | 1.32M | 2.71M | 3.34M | 12.05M |
| Long term investments | 0.02M | 0.02M | - | - | 0.00M |
| Net tangible assets | - | - | - | - | 12.56M |
| Short term investments | - | - | 0.08M | - | - |
| Net receivables | 0.22M | 0.14M | 0.39M | 0.26M | 0.45M |
| Long term debt | 1.26M | - | - | - | - |
| Inventory | 1.95M | 0.87M | 1.96M | 2.64M | 2.78M |
| Accounts payable | 1.38M | - | 2.79M | - | 1.33M |
| Accumulated other comprehensive income | 7.74M | - | 9.77M | - | - |
| Non currrent assets other | - | - | -0.00M | - | - |
| Non current assets total | 3.56M | 2.11M | 2.92M | 3.78M | 4.77M |
| Capital lease obligations | 2.61M | 0.54M | 0.99M | 1.40M | 1.81M |
| Long term debt total | - | - | - | - | 1.41M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Investments | - | -0.04M | -0.06M | -0.10M | -0.25M |
| Change to liabilities | - | - | - | - | 0.42M |
| Total cashflows from investing activities | -0.01M | -0.04M | -0.06M | -0.10M | -1.41M |
| Net borrowings | 2.15M | -0.97M | 2.68M | - | -0.52M |
| Total cash from financing activities | 12.10M | 5.33M | 3.66M | -0.21M | -0.43M |
| Change to operating activities | - | - | - | - | -0.11M |
| Net income | -10.42M | -10.16M | -8.63M | -10.96M | -16.32M |
| Change in cash | 1.88M | -0.16M | 0.09M | -8.18M | -10.50M |
| Begin period cash flow | 0.09M | 0.25M | 0.16M | 8.34M | 18.84M |
| End period cash flow | 1.96M | 0.09M | 0.25M | 0.16M | 8.34M |
| Total cash from operating activities | -10.21M | -5.45M | -3.52M | -7.88M | -8.66M |
| Issuance of capital stock | 9.93M | 4.30M | 0.98M | - | 0.00M |
| Depreciation | 0.78M | 0.85M | 0.93M | 1.03M | 0.90M |
| Other cashflows from investing activities | - | 0.01M | - | 0.00M | -0.15M |
| Change to inventory | -1.28M | 0.81M | -0.85M | -1.05M | -0.44M |
| Change to account receivables | -0.31M | -0.46M | -0.19M | - | 0.42M |
| Sale purchase of stock | - | 6.30M | 0.98M | 0.30M | 0.09M |
| Other cashflows from financing activities | -0.50M | 2.00M | 4.16M | 0.30M | 0.09M |
| Change to netincome | - | - | - | - | 6.49M |
| Capital expenditures | 0.00M | 0.02M | 0.06M | 0.10M | 1.01M |
| Change in working capital | -2.68M | 0.40M | 1.46M | -1.19M | 0.28M |
| Stock based compensation | 0.52M | 1.75M | 0.00M | 1.79M | 2.86M |
| Other non cash items | 2.12M | 1.72M | 2.72M | 1.44M | 3.63M |
| Free cash flow | -10.21M | -5.47M | -3.57M | -7.97M | -9.67M |
Sector: Industrials Industry: Specialty Industrial Machinery
|
Stock Name
|
Change
(CAD) |
Price
(CAD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
Enterprise Value
to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| DYA DynaCERT Inc. |
-0.01 5.00% |
0.10 | - | 12.00 | 94.72 | 38.97 | 100.96 | -5.35 |
| SCHN Schneider Electric CDR (CAD Hedged) |
-0.79 3.38% |
22.55 | 2.11 | 1.71 | 0.24 | 0.39 | 4.14 | 19.84 |
| ATS ATS CORP |
-2.30 8.68% |
24.20 | 236.74 | 20.92 | 1.56 | 2.47 | 2.01 | 24.10 |
| SIS Savaria Corporation |
0.81 2.69% |
30.77 | 30.17 | 21.10 | 2.28 | 3.26 | 2.49 | 14.43 |
| VLN Velan Inc. |
-0.01 0.06% |
17.49 | 83.37 | 18.15 | 1.16 | 1.33 | 0.85 | 7.72 |
dynaCERT Inc., together with its subsidiaries, engages in the design, engineering, manufacture, testing, and distribution of transportable hydrogen generator aftermarket products in Europe, Canada, and internationally. The company's patent-pending retrofit product provides performance enhancements by injecting hydrogen and oxygen into the air intake manifold resulting in fuel efficiency and reduced carbon emissions in internal combustion engines. It also offers HydraGen technology that turns water into hydrogen and oxygen through electrolysis for the after-market long-haul trucking industry. The company's products have applications in various market segments comprising trucks, reefer trailers, buses, heavy construction, mining equipment, electrical power generators, marine, and locomotive. It sells its products through dealers. The company was formerly known as Dynamic Fuel Systems, Inc. and changed its name to DynaCERT Inc. in January 2013. dynaCERT Inc. was incorporated in 2004 and is headquartered in Toronto, Canada.
| Name | Title | Year Born |
|---|---|---|
| Mr. Murray Ernest James Payne | CEO, Pres & Director | NA |
| Mr. Carmelo Marrelli | Chief Financial Officer | NA |
| Mr. Jean-Pierre Colin DCS, LL.L., M.B.A, M.B.A. | Exec. VP, Corp. Sec. & Director | NA |
| Mr. Enrico Schlapfer | VP of Global Sales | NA |
| Mr. Ronald S. Perry CA, CPA | Consultant | 1956 |
| Mr. Juergen Hoer | Managing Director of dynaCERT Gmbh | NA |
| Mr. Sidney Harkema | Advisor | 1930 |
| Mr. Enrico Schlapfer | Vice President of Global Sales | NA |
| Mr. Murray Ernest James Payne | CEO & Chairman | 1956 |
| Mr. Jean-Pierre Colin DCS, LL.L., M.B.A, M.B.A. | Interim CFO, Executive VP, Corporate Secretary & Director | NA |
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