NEW YORK, February 6, 2013 /PRNewswire/ --
The approvals enable the provision of
energy to customers as part of 10-year NatGas supply project, and
expanding provision to additional consumers
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 in Bosnia and Herzegovina has obtained the
permits required for operating the natural gas filling station
built in Reljevo, Sarajevo.
The station is now fully approved for operations. The
station receives natural gas from a local pipeline which is then
compressed and delivered 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 is delivered to the customers utilizing Energtek's
proprietary natural gas transportation system.
As previously disclosed, Energtek has been supplying significant
quantities of natural gas in the context of the long term supply
contract with Aluminij d.o.o. Mostar. The new filling station will
enable to reach the full expected supply anticipated in the
contract. It also enables entering into new supply
agreements with additional local energy consumers.
"We have finally fulfilled all the requirements for operating
the station in Sarajevo," said
Prof. Yuri Ginzburg , CTO of
Energtek Inc. "This station is a significant boost to our
operational and supply capabilities. Having distributed
supply sources enables us to improve the economics of delivering to
our customers, and improves the overall reliability of our supply
system."
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
Energtek Inc.
11 East 44th St., New York,
NY 10017, USA
Tel +1(212)999-6202
Fax +1(212)208-4344
energtekoffice@energtek.com
http://www.Energtek.com
SOURCE Energtek Inc.