Energtek Reports Revenues of $3.2M in Q1 '14 Increase of more than 50% compared to Q1 '13
NEW YORK, May 28, 2014 /PRNewswire/ --
Energtek Inc. (EGTK), a leader in hi-tech natural gas solutions and Adsorbed Natural Gas (ANG) technology, announced today that it has completed filing financial reports for the first quarter of 2014, indicating that total revenues of $3.2m were generated during the first quarter, an increase of more than 50% compared to the figure of $2.1m in the first quarter of 2013.
The figure of $3.2m derives almost entirely from Energtek's activities in Europe - now entering their third year and which have demonstrated steady and strong growth.
"We are highly satisfied with the continued progress of our European operations. We further anticipate that in the coming months, we will establish the basis for significant growth as we begin to sign commercial contracts in the United States, taking advantage of the vast and favorable environment in the U.S. for non-pipeline NG transport and supply to consumers who are increasingly aware of the advantages to converting their expensive and polluting propane/diesel/fuel oil plants to clean and relatively cheap natural gas," added Yoav Krill, CEO Energtek Inc.
Energtek develops and applies innovative mobile transportation solutions for industrial consumers and fleets of small vehicles. Energtek operates subsidiaries in North America, Europe and Asia.
To learn more about Energtek, visit the newly revamped website: http://www.energtek.com
This release contains forward-looking statements within the meaning 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. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and other matters set in Energtek's filings. These risks and uncertainties could cause actual results to differ materially from those indicated in the forward-looking statements.
SOURCE Energtek Inc.