Energtek, Inc. (EGTK.PK) Provides Progress Update on Development of Commercial Natural Gas Markets in the Philippines

QualityStocks would like to highlight Energtek, Inc. (PINKSHEETS: EGTK). Energtek 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 provides competitive bulk transportation solutions to industrial users and a profitable alternative motor fuel solution for 2- and 3-wheel vehicle drivers in Asia.

In the company’s news yesterday,

Energtek Inc. after the closing bell reported advances towards the implementation of its proprietary CNG Lite(TM) and Low-Pressure Mobile Pipeline(TM) (LMP) technologies in the Philippines.

According to the company, significant advances have taken place towards the implementation of LMP technology, a mobile natural gas supply system for industrial energy consumers. Structural changes in the Filipino local natural gas market have been taking place during the past months that will enable the distribution of natural gas to industrial users in the area of Metro Manila.

Energtek has maintained ongoing contacts for several months with potential customers interested in receiving mobile natural gas supply. The recent completion of successful LMP field tests in Africa has further advanced discussions with these customers.

Progress is also being made with Filipino parties that have expressed interest in the development of natural gas markets in the Philippines, using Energtek’s proprietary CNG Lite(TM) technology for the conversion and ongoing fuel supply of small vehicles.

Energtek also pointed out that its fully owned subsidiary, Energtek Philippines Inc., was recently certified as a duly accredited participant in the Filipino Natural Gas Vehicle Program for Public Transport (NGVPPT). This accreditation entitles Energtek Philippines to convert and retrofit existing vehicles to operate on Natural Gas; as well as to provide ongoing Natural Gas supply to the vehicles from the Malampaya Offshore Gas Reserve in Batangas, the nation’s largest indigenous energy source.

Before the certification was granted, the company’s CNG Lite(TM) fuel system for small vehicles underwent extensive field trials by government officials. Following the successful tricycle tests, Filipino investment groups expressed interest in CNG Lite(TM) technology, and are currently studying their cooperation in the development of the natural gas market for three-wheelers.

Converting the vehicles to Natural Gas provides a substantial reduction in hazardous emissions and is cost-effective. According to the press release, CNG Lite(TM) is currently the only commercially viable system that can be utilized for mass conversions of tricycles in the Philippines.

“Energtek’s CNG Lite(TM) and LMP(TM) natural gas supply systems have demonstrated themselves to be effective in the field,” said Energtek CEO Lev Zaidenberg. “These systems are garnering the attention of several parties that seek to join in the opening of substantial natural gas markets in the Philippines, enabled by our bulk-transportation and CNG Lite(TM) technologies.”

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