Energtek's Successfully Operating Vehicles Highlight CNG-NGV Philippines Forum
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First Converted Vehicles Operating Successfully for Over a Month
MANILA, Philippines, August 27 /PRNewswire-FirstCall/ -- Energtek Inc.
(OTCBB: EGTK), a world leader in the development of Adsorbed Natural Gas
(ANG) technology, today announced that its sample of converted two-stroke and
four-stroke three-wheelers ("tricycles") have been successfully operating on
natural gas for more than a month in the Philippines.
Energtek CEO Lev Zaidenberg made the announcement at the Compressed
Natural Gas (CNG) - Natural Gas Vehicle (NGV) Philippines Forum during a
presentation on "Commercial NGV Conversion of Three-Wheelers in the
Philippines." Energtek is an official sponsor of the national forum, focused
on "Pushing Natural Gas Vehicle Solutions throughout Metro Manila by 2010."
The vehicles have been operating since July on Natural Gas extracted from
the San Antonio stranded gas well. Environmental analysis of the vehicle
sample has concluded that carbon monoxide (CO) emissions from the tricycles
are virtually eliminated following conversion.
Energtek's CNG Lite(TM) conversion of gasoline powered two-stoke
tricycles reduced levels of carbon monoxide from 4 percent to 0.6 percent, a
reduction of 85. Conversion of gasoline powered four-stroke tricycles reduced
levels of Carbon Monoxide emissions from 2.5 percent to a virtually
non-existent 0.05 percent, a reduction of 98 percent.
"The beneficial effects of the emission reductions will be immediately
felt throughout the Philippines," said Zaidenberg, CEO of Energtek. "In
addition to the environmental advantages, drivers of tricycles will save
hundreds of dollars each year on fuel costs using CNG Lite(TM). We are proud
to deliver this technology to the Philippines, and look forward to fulfilling
the government's request of Energtek to convert at least half a million of
the country's three million tricycles over the next three to four years."
The sample tricycles are the first of the Company's commercial NGV
project in the Philippines aimed at converting at least 500,000 tricycles
during the present stages. A recently converted vehicle was on display at the
forum.
The vehicles were converted using Energtek's proprietary CNG Lite(TM)
natural gas conversion and supply system for small vehicles, which the
Company introduced at the conference. The CNG Lite(TM) complete energy supply
solution for small vehicles, powered by ANG technology, resolves many of the
challenges of standard high-pressure CNG solutions, in addition to the known
economic and environmental benefits of utilizing Natural Gas as a motor fuel.
The company expects to convert additional vehicles during the month of
September, and complete 3,000 tricycle conversions in the province during
2009. In addition, Energtek aims to launch additional conversion projects
over the next several months in the areas of Cebu and Batangas, near Metro
Manila.
About Energtek
A world leader in the development and application of Adsorbed Natural Gas
(ANG) technology, Energtek provides complete well-to-wheel pipeless Natural
Gas supply solutions to fleets of small vehicles and industrial consumers.
Energtek's low-pressure Natural Gas solutions reduce pollution and alleviate
consumer energy costs. Energtek provides a profitable alternative motor fuel
solution for the large market of low-income 2- and 3-wheel vehicle drivers in
Asia. Energtek operates subsidiaries in North America, Europe, Asia and the
Middle East. To learn more about Energtek, visit http://www.energtek.com.
About Natural Gas Adsorption
ANG storage technology enables hi-tech and cost-effective storage of
Natural Gas, by maximizing the quantities of gas stored in a tank.
Low-pressure adsorption greatly reduces the infrastructure, fueling, and
energy costs of supply solutions to consumers where no pipeline or refueling
infrastructure is present. Energtek's proprietary low-pressure storage
solutions enable new markets of motor vehicle fleets and industrial
consumers, to benefit from environmentally friendly and affordable Natural
Gas.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended and Section 21E of the
Securities Exchange Act of 1934, as amended. All forward-looking statements
are inherently uncertain as they are based on current expectations and
assumptions concerning future events or future performance of Energtek and
its technologies. Readers are cautioned not to place undue reliance on these
forward-looking statements, which are only predictions and speak only as of
the date hereof. In evaluating such statements, prospective investors should
review carefully various risks and uncertainties identified in this release
and matters set in Energtek's SEC filings. These risks and uncertainties
could cause actual results to differ materially from those indicated in the
forward-looking statements.
Contacts:
Alex Traiman
+1-212-999-6202
IR@energtek.com
SOURCE Energtek Inc.
Contacts: Alex Traiman, +1-212-999-6202, IR@energtek.com
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