dynaCERT: Market Expansion with Vietnam Pilot Projects and Trade Shows
In August 2026, dynaCERT significantly expanded its operations in Vietnam. Following an initial production order from a logistics company, additional pilot installations are now underway. At a waste management facility near Hanoi, long-haul trucks are being retrofitted, while at an oil and gas company, fire trucks, forklifts, and mobile cranes are being added to the mix. The HydraGEN™ systems are already installed at a globally active port operator, where the HydraLytica™ telematics platform is also in use for precise consumption and emissions measurements. Discussions regarding additional orders are underway in Cambodia, Indonesia, and Japan and could further expand the company’s reach in Asia.
In September, the company is focusing on targeted customer outreach at key industry events. From September 15 to 20, dynaCERT will be represented at IAA TRANSPORTATION in Hanover, followed by an appearance at the 24 Heures Camions in Le Mans together with NRS Racing and its French partner IPMD. For the port operations sector, the company plans appearances at TOC Americas in Cartagena and Breakbulk Americas in Houston. The year will conclude with POWERGEN International 2027 in Salt Lake City, where the company will target energy utilities.
The drivers behind the business model remain intact. The EU mandates drastic CO₂ reductions for heavy-duty vehicles. At the end of last year, only 2% of new registrations were zero-emission. Diesel fleets are not going to simply disappear. The retrofit solution provides a bridge for the global diesel engine fleet. Analysts at GBC Research set a price target of CAD 0.75. The stock is currently trading at just CAD 0.11. The coming months will show whether the pilot projects can be converted into large-scale orders. The new management team, led by CEO Kevin Unrath and President and Director Bernd Krüper, has set the course for the coming years and is launching a sales offensive with the planned trade shows.
DHL: Between Brand Strength and Fleet Transformation
The renaming of Deutsche Post AG to DHL AG is more than just a cosmetic change. It is the logical culmination of a decades-long transformation from a national postal service provider to a global logistics heavyweight. While the holding company will assume strategic responsibilities in the future, the German mail business will remain an independent subsidiary. While mail carriers primarily travel by bicycle, package drivers need vehicles, which often run on diesel. Electrifying the diesel fleet is therefore a major operational challenge. Although more than 60% of last-mile delivery fleets are already electric, heavy long-haul transport is lagging. CEO Tobias Meyer favours battery-electric trucks with range extenders, but political support is lacking.
The second-quarter figures show a positive trend. Revenue rose 13% to EUR 22.4 billion, while operating profit increased by as much as 30% to EUR 1.9 billion. The Express division was the main driver, with EBIT up 64%, fueled by higher shipment weights and temporary capacity bottlenecks in the air freight market. Free cash flow reached EUR 1.8 billion in the first half of the year. CFO Melanie Kreis attributes this to a successful combination of operational leverage, effective cost management, and smart pricing. The company is increasingly benefiting from growth areas such as logistics for data centers, batteries, and life sciences.
The raised full-year forecast to over EUR 6.5 billion in EBIT reflects confidence. The share buyback program has been increased and extended through the end of 2027. In addition, the Group is paying a dividend of EUR 1.90 per share. This corresponds to a dividend yield of approximately 3.4%. The fleet transformation will require significant investment in the coming years. Geopolitical risks, such as the conflict in the Middle East, and the structural decline in the mail business cloud the picture. The stock currently trades at a price-to-earnings (P/E) ratio of 17, which places it in the middle of the pack compared to competitors.
Caterpillar: Record Numbers and the Diesel Question
Caterpillar posted record second-quarter results, with revenue of USD 20.5 billion and adjusted earnings per share of USD 8.17. Behind these impressive figures, however, lies the fundamental question of how the company will handle its massive diesel fleet. While diesel remains central, the company is focusing on fuel flexibility with biodiesel and renewable diesel. A recently granted general approval for MaK engines enables GHG reductions of up to 20% through retrofitting, while dual-fuel conversions using methanol can cut emissions by up to 80%.
Demand from data centres has fundamentally transformed the business. What began with diesel emergency generators has become primary power generation, as grid connections can take up to 6 years. The order backlog stands at USD 72 billion. Of that, 59% must be delivered within the next 12 months. In the Power & Energy segment, sales rose by 17%. Customers are already planning through 2030; the 10 MW platform is back in operation, and capacity is increasing from 25 to 66.5 GW. Management sees no slowdown in AI demand and expects the trend to continue.
Beyond equipment sales, Caterpillar is evolving into a service provider. 1.6 million connected devices provide data, and Customer Value Agreements accompany 75% of new machines. Service revenue is projected to reach USD 24 billion by 2025, with a target of USD 30 billion by 2030. From an analyst’s perspective, this transformation warrants a re-rating. Nevertheless, risks remain, including potential delays in data centre expansion, rising material costs, and tariffs. The diesel fleet remains a strategic risk that must be addressed.
The IAA 2026 marks the starting point for an industry in the midst of radical change. With its bridging technology for diesel engines, dynaCERT offers an opportunity to modernize older diesel fleets. DHL shines as a logistics champion with strong numbers and good shareholder returns, but must navigate the costly fleet transformation. Caterpillar impresses with record numbers thanks to the AI boom, but faces the strategic question of how to make its diesel engines lower-emission—or even replace them.
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