VALLEY STREAM, N.Y., Dec. 20 /PRNewswire-FirstCall/ -- Energtek Inc. (Energtek) announced today the successful launch of the project for conversion of three-wheel vehicles to natural gas-powered systems in the Republic of the Philippines. The launch, organized in conjunction with the Department of Energy of the Republic of the Philippines and the Philippines National Oil Company Exploration Corporation (PNOC-EC) took place on December 17. Among the numerous participants in the event were the Secretary of the Department of Energy and Head of the Presidential Task Force on Climate Change, Honorable Angelo T. Reyes, the President of PNOC-EC, Mr. Rafael Del Pilar, the Presidential Assistant Honorable Ariel P. Lim, and representatives of the congress. Also in attendance were mayors from Provincia de Isabela, the area in which the project takes place: Mayor Leoncio Kiat, Echague, Mayor Pol Dy, Alicia, Mayor Tetet Dy, Aurora, Mayor Jose Pangabinan, Angadanan, and representatives of the National Confederation of Tricycle (three-wheelers) Operators and Drivers Association of the Philippines. The event was transmitted in prime time by most local TV channels, and was covered by most radio channels and the leading newspapers. It was also broadcasted in the United States, Europe and Asia. Mr. Angelo T. Reyes, Secretary of the Department of Energy (DOE), the main speaker at the event, stated, "I warmly extend my congratulations to Energtek Inc. for having introduced their Adsorbed Natural Gas (ANG) technology here, in the Philippines. The Government of the Philippines recognizes that natural gas will provide for a structural change in the country's energy mix, strengthen its fuel diversification program and contribute to the country's energy security position." The DOE Secretary continued, "The Philippines could benefit much from the use of ANG and its related technologies.
* The technology would be utilizing clean fuel that will subsequently
contribute to our energy security and climate change agenda.
* Through this technology we may be able to maximize utilization of our
marginal and residual reserves of natural gas.
* ANG cylinders supply energy for the same range as CNG cylinders but
have one big advantage-- they do not need high-pressure filling
stations. This cuts the cost of construction and maintenance of
station networks.
* ANG could help make available clean and cheap fuel to benefit us all:
-- Operators to have reduced maintenance cost of tricycles (three-
wheeler)
-- Drivers to have more income
-- Riding public to have cleaner environment and possibly, with the
help of the local government units, reduced fares."
Mr. Lev Zaidenberg, CEO of Energtek stated in his speech, "I believe everybody present here this afternoon is devoted to making a change. That is the goal of our project in the Philippines. Not a small upgrade but a real change for the people of this great country and possibly of the entire region." Mr. Zaidenberg continued, "We aim at converting as big a part as possible of the 3,000,000 tricycle fleet to run on Natural Gas in the Philippines. This conversion will allow the drivers to pay half the price of gasoline and will ensure the use of an environmentally friendly fuel. These innovations will help promote solutions of social and economic change as well as address environmental challenges facing us globally." About ANG The Adsorbed Natural Gas technology allows storing Natural Gas under lower pressures than Compressed Natural Gas (CNG) technology, the prevalent technology for Natural Gas Vehicles (NGV). Utilizing ANG technology vastly improves refueling expenses and allows for a more efficient use of the vehicle's space. The lower pressure used by ANG technology allows significant savings in the infrastructure costs of filling stations. About Energtek Energtek enables the conversion of two and three wheelers into natural gas powered vehicles, allowing this much cleaner and cheaper fuel to replace other more expensive and environmentally damaging fueling sources. Two and three wheelers compose the fastest growing major segment of the world automotive market. This segment is estimated at more than 200,000,000 units, most of them in Asia. Energtek has a leading position in these large brand-new markets. Our business addresses the growing NGV industry with a wide range of products, from cylinders and conversion kits for vehicles through infrastructure elements for Natural Gas transportation and filling stations, including the development of pioneering storage systems. Energtek, through its investments and subsidiaries, is creating an international network of synergetic activities in Asia, Europe, America and the Middle East. Forward-Looking Statements: This press release contains forward looking statements, including those related to future product plans, which involve known and unknown risks and uncertainties, which together with other factors could cause actual results to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. For a discussion of these and other known risks and uncertainties, individuals should refer to Energtek's SEC filings. Energtek does not undertake an obligation to update forward looking statements.
Contact:
IR@Energtek.com
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