NEW YORK, March 6, 2012 /PRNewswire/ --
Energtek Inc. (Pink Sheets: EGTK), a leader in hi-tech natural gas solutions and Adsorbed Natural Gas (ANG) technology, announced today that the company's subsidiary Energtek Herz d.o.o. Mostar has successfully completed the natural gas conversion of the aluminum cast house, a major facility at the plant of Aluminij d.d. Mostar, a large industrial energy consumer in Bosnia and Herzgovenia.
Ongoing commercial delivery of natural gas to Aluminij's facilities is expected to commence in several weeks.
This past year, Energtek Herz d.o.o. Mostar signed ongoing natural gas supply contracts with Aluminij and FEAL d.o.o. Sirokij-Brijeg projected to yield revenues of $10,000,000 annually when fully operational.
The converted equipment at Aluminij's facility has been tested and is functional. Energtek recently reported the successful test of natural gas supply to the factory.
"After years of nurturing emerging energy markets and developing efficient industrial energy supply systems, Energtek is ready to realize the full commercial implementation of its business plan as an ongoing provider of clean and affordable alternative energy," said Lev Zaidenberg, CEO of Energtek. "We are looking forward to the imminent supply of commercial energy to this large aluminum production facility, and we are continuing to work toward the signing and implementation of additional large contracts in the region."
About Energtek (EGTK)
Energtek is a pipeless natural gas distribution company that provides tailored energy supply solutions for industrial and commercial customers. Energtek has developed proprietary low-pressure mobile transportation solutions to enable industrial consumers and fleets of small vehicles to utilize clean and affordable natural gas. Energtek operates subsidiaries in North America, Europe, Asia and the Middle East. To learn more about Energtek, visit 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.