News Release

For immediate release 
June 25, 2003

DYNAGEN EXPANDING WITH HELP FROM THE GOVERNMENT OF CANADA

SYDNEY, N.S. -- The Honourable Gerry Byrne, Minister of State for Enterprise Cape Breton Corporation (ECBC) and the Atlantic Canada Opportunities Agency (ACOA) announced today, assistance from the Government of Canada, to expand and modernize a local manufacturing facility.
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DynaGen Technologies Incorporated received funding to purchase advanced surface mount technology (SMT) which will increase miniaturization, lowering the cost of components and automating the assembly process. The facility, located in Sydport, will be upgraded to accommodate the new SMT manufacturing equipment. The purchase of SMT, along with larger facilities will assist DynaGen in maintaining competitiveness on a global scale.

The singular focus of DynaGen Technologies Inc. is on products serving the Distributed Power market. This includes any small-scale power generation technology that provides electric power at a site closer to customers than central station generation.

“Distributed power is crucial to meeting the energy needs of the new millennium,” says Mark Eyking MP, for Sydney-Victoria, speaking on behalf of Minister Byrne. “Utility restructuring, technological advances, and an expanding demand for clean, reliable electricity are providing the momentum for a change. DynaGen’s integrated electronic systems for the management of distributed power will be at the heart of this transformation.”

“We have become North America’s fastest growing manufacturer of power generation controls,” says Paul Wareham, Chief Executive Officer for DynaGen Technologies Incorporated. “The global market for electronic systems used in engine/generator sets is estimated at US$ 10 Billion. This project allows us to remain cost competitive in the international marketplace.” 

The total estimated cost of the project is $500,000. The Atlantic Canada Opportunities Agency will make a repayable contribution of $250,000 through the Business Development Program. This project is expected to create
10 full-time jobs ranging from engineering to manufacturing positions. As DynaGen moves forward with their growth strategy, the SMT equipment will enhance their research and development capacity resulting in an additional 
25 full-time jobs. 

DynaGen Technologies Incorporated was founded in 1993. The company is one of the few companies in the world focused exclusively on providing supporting technology to the distributed power industry. 

Enterprise Cape Breton Corporation offers programs in support of economic development initiatives and is responsible for delivering ACOA' s programs on Cape Breton Island and in the Mulgrave area.

FOR ADDITIONAL INFORMATION CONTACT:

Ralph Meechan 
Office of the Honourable Gerry Byrne 
Minister of State 
Tel: (613) 941-7241

Office of Mark Eyking, MP
Sydney-Victoria
Tel: (902) 567-6275 

D.A. Landry 
ECBC Communications 
Tel: (902) 564-3617

Paul Wareham, CEO
Dynagen Technologies Incorporated
Tel: (902) 562-0133