NEW YORK, January 2, 2013 /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 has completed construction and the
installation of components of a natural gas filling station in
Reljevo, Sarajevo.
The station, which receives natural gas from a local pipeline
will be used to compress and deliver natural gas to regional
industrial energy consumers as part of a 10-year ongoing energy
supply contract scheduled to realize revenues of over $100MM.
Natural gas from the filling station will be delivered to the
customers utilizing Energtek's proprietary natural gas
transportation system.
Following completion of the construction and installation,
Energtek is currently conducting a round of testing on the
compressors, a necessary step to receiving final regulatory
approvals to operate the station. Energtek has already begun
supplying its customers with significant quantities of natural gas.
Approval to utilize the new station will greatly increase
Energtek's capacity to fulfill the full terms of the energy
contracts.
Additionally, the filling station will be able to accommodate
delivery of natural gas to additional local energy consumers.
"The completion of our filling station is a major milestone in
our business development efforts in the region of Serbia,
Bosnia and Herzegovina," said
Lev Zaidenberg, CEO of Energtek Inc.
"The station enables us to increase our current revenue flow by
fulfilling greater quantities of natural gas to our existing
consumers, and gives us the flexibility to sign similar ongoing
energy supply contracts with additional customers."
About Energtek (EGTK)
Energtek utilizes proprietary mobile transportation technology
to supply natural gas to industrial energy consumers with a
particular focus in Eastern Europe
and the Middle East. The company
is a leading developer of ANG technology, and has developed
innovative low-pressure mobile transportation solutions for
industrial consumers and fleets of small vehicles. To learn more
about Energtek, visit http://www.energtek.com.
Forward-Looking Statements
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.
Contacts:
Investor Relations
IR@energtek.com
SOURCE Energtek Inc.