MANILA, Philippines, April 7, 2010 /PRNewswire-FirstCall/ -- Energtek Inc., a world leader in the development of Adsorbed Natural Gas (ANG) technology, reported advances towards the implementation of its proprietary CNG Lite(TM) and Low-Pressure Mobile Pipeline(TM) (LMP) technologies in the Philippines.
Significant advances in the Philippines have taken place towards the implementation of LMP technology, a mobile natural gas supply system for industrial energy consumers. Structural changes in the Filipino local natural gas market have been taking place during the past months, changes that will enable the distribution of natural gas to industrial users in the area of Metro Manila. In parallel, Energtek has maintained ongoing contacts for several months with potential customers interested in receiving mobile natural gas supply.
The recent completion of successful LMP field tests in Africa have further advanced discussions with these customers.
Advances have also taken place with Filipino parties that have expressed interest in the development of natural gas markets in the Philippines, using Energtek's proprietary CNG Lite(TM) technology for the conversion and ongoing fuel supply of small vehicles.
Energtek's fully owned subsidiary, Energtek Philippines Inc., was recently certified as a duly accredited participant in the Filipino Natural Gas Vehicle Program for Public Transport (NGVPPT). Accreditation entitles Energtek Philippines to convert and retrofit existing vehicles to operate on Natural Gas; as well as to provide ongoing Natural Gas supply to the vehicles from the Malampaya Offshore Gas Reserve in Batangas, the nation's largest indigenous energy source.
The certification was preceded by extensive field trials of the company's CNG Lite(TM) fuel system for small vehicles by government officials. Following the successful tricycle tests, Filipino investment groups have expressed interest in CNG Lite(TM) technology, and are studying their cooperation in the development of the natural gas market for three-wheelers.
Converting the vehicles to Natural Gas provides a substantial reduction in hazardous emissions and is cost-effective. CNG Lite(TM) is currently the only commercially viable system that can be utilized for mass conversions of tricycles in the Philippines.
"Energtek's CNG Lite(TM) and LMP(TM) natural gas supply systems have demonstrated themselves to be effective in the field," said Energtek CEO Lev Zaidenberg. "These systems are garnering the attention of several parties that seek to join in the opening of substantial natural gas markets in the Philippines, enabled by our bulk-transportation and CNG Lite(TM) technologies."
About Energtek
Energtek develops and applies proprietary low-pressure storage technology to provide complete well-to-wheel pipeless Natural Gas supply solutions to industrial consumers and fleets of small vehicles. Energtek's Natural Gas solutions reduce pollution and alleviate consumer energy costs. Energtek provides competitive bulk transportation solutions to industrial users and a profitable alternative motor fuel solution for 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/
Forward-Looking Statements
This release contains forward-looking statements. 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. In evaluating such statements, prospective investors should review carefully all risks and uncertainties, including those identified in this release and other matters set in material publicly released by Energtek. These risks and uncertainties could cause actual results to differ materially from those indicated in the forward-looking statements.
Contacts: IR@energtek.com +1(212)999-6202
Energtek Inc.
CONTACT: Contacts: IR@energtek.com, +1(212)999-6202
