High Profile Management Team Joins Energtek USA Energtek Establishes New Subsidiaries in USA
NEW YORK, May 1, 2014 /PRNewswire/ --
Energtek Inc. (OTCBB: EGTK), a leader in hi-tech natural gas solutions and Adsorbed Natural Gas (ANG) technology, announced today that two high profile experienced managers, Dr. Timothy Nulty and Leslie Nulty have joined forces with Energtek.
Towards its commercial activities in the USA, Energtek has established a fully-owned subsidiary, Energtek USA Inc. In turn, Energtek USA has created Energtek North Country Inc. for activities in the Vermont Region and Northeast United States.
"We are pleased to confirm that Energtek USA has set up a new company, Energtek North Country Inc., which will focus on the unique conditions in the Northeastern region of the United States, an area with very limited access to natural gas distribution pipelines," said CEO Energtek Mr. Yoav Krill.
Mr. Lev Zaidenberg, who founded Energtek Inc. back in 2007, and until recently as President of Energtek, Inc., will now serve as Chairman of the Board of Energtek USA, and will continue to be in charge of Energtek's worldwide business development and international operations.
Dr. Timothy Nulty was nominated as CEO of Energtek North Country Inc. He has held senior positions
at the DoE, the U.S. Senate and then the U.S. House of Representatives, as well as having served as a Senior Telecom Project Officer for the World Bank and International Finance Corporation.
Mrs. Leslie Nulty was appointed CFO of Energtek North Country Inc. She is an expert financial analyst,
and served as General Manager at a large food co-op, controller for a Venture Capital company and Treasurer for a large Business Association.
"Dr. Timothy and Leslie Nulty are proven and successful business managers, with vast international experience as well as an in-depth knowledge and local expertise in Vermont, having managed telecom companies in the region," said Mr. Zaidenberg.
"We are honored to have appointed them as managers of our new subsidiary, Energtek North Country Inc."
Dr. Nulty comments: "I am excited at the opportunity that Leslie and I will have to work with Energtek. We expect to begin servicing customers in early 2015. In New England and New York State there are many areas that are not served by gas pipelines and have little prospects of becoming so in the foreseeable future. Energtek's solutions, based on proprietary technologies, will enable us to deliver gas economically by mobile "mother daughter stations", reducing user costs and pollution from conventional fuels. Over time we will be expanding pursuant to a long-term business plan whose terminal value is well over one billion dollars ($1,000,000,000).
Now is the time for our new company to roll up its sleeves and get to work, in order to provide the fine citizens of Vermont and the neighboring states with increased energy efficiency and environmentally-friendly solutions."
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.