Scottsdale, Arizona 3/5/2010 2:59:02 AM
News / Finance

Energtek, Inc. (EGTK.PK) Acquires Accreditation from Philippines Department of Energy

QualityStocks would like to highlight Energtek, Inc. (PINKSHEETS: EGTK). The company develops and applies proprietary low-pressure storage technology to provide complete well-to-wheel pipeless Natural Gas supply solutions to industrial consumers and fleets of small vehicles. Energtek's Natural Gas solutions reduce pollution and alleviate consumer energy costs.

 

In the company’s news yesterday,

 

Energtek Inc. announced that its fully-owned subsidiary, Energtek Philippines Inc., has been certified as a duly accredited participant in the Filipino Natural Gas Vehicle Program for Public Transport (NGVPPT).

 

The official Certificate of Accreditation was issued by the Filipino Department of Energy. Through the accreditation Energtek Philippines Inc. is entitled to convert and retrofit existing vehicles to operate on Natural Gas, as well as provide ongoing Natural Gas supply to the vehicles as fuel. According to the press release, the certification was issued after extensive field trials of the company’s CNG Lite(TM) fuel system for small vehicles.

 

The company’s CNG Lite(TM) system for small vehicles is particularly suitable for gasoline-powered tricycles, which represents one of the most popular forms of transportation in the Philippines. There are millions of these tricycles in the Metro Manila area, contributing to dangerous pollution levels.

 

The provision of gas through the NGVPPT program will allow the conversion of large numbers of gasoline powered tricycles to operate on Natural Gas, significantly reducing the nation’s dependence on foreign oil as well as pollution levels. CNG Lite(TM) is currently the only commercially-viable system that can be utilized for mass conversions of tricycles in the Philippines.

 

“NGVPPT accreditation is a major step for Energtek,” stated Energtek CEO Lev Zaidenberg. “This certification greatly aids the company in its plans to become a significant provider of Natural Gas to the large market of small vehicles in the Philippines.”

 

He continued, “The accreditation process was a lengthy one, requiring Energtek to perform extensive field tests over a long period to prove the effectiveness of the CNG Lite(TM) conversion system. Now that our CNG Lite(TM) fuel system has been approved for commercial application, it can be used to supply a cheaper and cleaner motor fuel that provides benefits for the entire population.”

 

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Forward-Looking Statement:

This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E 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 the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.