OSHAWA, Ontario, Jan. 25, 2011 (GLOBE NEWSWIRE) -- Dynamic Fuel Systems Inc. (TSX-V:DYA) ("Dynamic" or the "Corporation") today announces the following: Mr. Jerry Solensky Jr retires as Chief Executive Officer (CEO) and member of the Board of Directors. Mr. Solensky will remain on as an independent consultant and sales agent to the corporation for a period of two (2) years. The Board of Directors wishes to express their sincere thanks and appreciation to Mr. Solensky for his devoted time and efforts on behalf of the Corporation.
Board of Directors meeting:
Immediately following the retirement of Mr. Solensky the Board of Directors elected Mr. John Hultink to fill the seat as Chief Executive Officer (CEO) along with Mr. Grove Bennett as President and Corporate Secretary.
Grove comes with a background in Business Development associated with leading edge technologies with (TSX:V) listed companies and strong relationships with Government departments and Public groups. Grove will continue to strengthen relationships with our existing distributors/agents, while developing new sales and marketing strategies in line with our corporate restructuring and continued product development.
About Dynamic Fuel Systems Inc.
Dynamic Fuel Systems Inc. is an Oshawa, Ontario; Canada based energy sector company engaged in the sales & marketing, manufacture, distribution, installation and support of a transportable hydrogen generator aftermarket product targeted for use in the heavy tractor trailer industry. Its flagship product, the HydraGen, is a patent-pending aftermarket retrofit solution that provides performance enhancement by mixing hydrogen into a vehicle's intake air resulting in greater fuel efficiency. Its business was founded in 2001.
This release includes forward looking statements, which are based on certain assumptions and reflects management's current expectations. These forward looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success for new products and technologies; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology; changes in laws and regulations, includes codes and standards, intellectual property rights, and tax matters; the uncertainty of the emerging hydrogen economy; including the hydrogen economy moving at a pace not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Corporation disclaims any intention or obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.
CONTACT: Mr. John Hultink Chairman of the Board Dynamic Fuel Systems Inc. 1288 Ritson Road Nth, Suite 385 Oshawa, Ontario L1G 8B2 905-831-2440 www.dynamicfuel.com