Energtek's US Subsidiary Announces Advanced Negotiations Towards Project in Texas - AMP to Convert and Supply Trucks with Natural Gas
NEW YORK, Dec. 17, 2013 /PRNewswire/ -- Energtek Inc. (OTCBB: EGTK), a pioneer in hi-tech natural gas solutions and Adsorbed Natural Gas (ANG) technology, announced that its newly-formed U.S. subsidiary, AMP - American Mobile Pipeline Inc. is in advanced negotiations with a truck company in Texas. The project is expected to include conversion of diesel trucks to run on natural gas, and supply of the natural gas to run the trucks. For the client, this will represent significant savings while achieving at the same time a material reduction of the pollution created by the trucks.
AMP, the newly formed US subsidiary of Energtek Inc. which began operating a few weeks ago, has begun mapping the US to identify projects where its mobile transport solution is most appropriate. In this context AMP has approached, and is now in advanced negotiations with a truck company, and hopes that this model can then be duplicated and extended to other truck companies.
The project is expected to start with the conversion of several trucks and after a test period be incrementally enlarged. AMP shall be responsible for the conversion process and of the subsequent provision of the natural gas to be consumed by the trucks.
"We are starting to envisage the first results of the activities of AMP." said CEO of AMP, Mr. Michael Greenfield. "We expect that AMP will develop significant activities in the forthcoming years".
Energtek develops and applies innovative low-pressure mobile transportation solutions for industrial consumers and fleets of small vehicles. The company is also involved in oil and gas exploration in Israel. Energtek operates subsidiaries in North America, Europe, and Asia. To learn more about Energtek, visit 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.