Energtek Completes Conversion of Additional Plant at Client's
Facilities
NEW YORK, April 25, 2013 /PRNewswire/ --
Energtek Inc. (OTCBB: EGTK), a leader in hi-tech natural gas
solutions and Adsorbed Natural Gas (ANG) technology, announced
today that its subsidiary Energtek Herz d.o.o. Mostar has
successfully completed the conversion to natural gas of another
major plant called Anode within the Aluminij d.o.o. Mostar factory
complex in Bosnia-Herzegovina.
This conversion should be translated in the near future into
increased delivery and supply of natural gas to Aluminij Mostar,
the largest producer of aluminum in South Eastern Europe with
annual exports of above 250 million
euros.
The original contract between Energtek's subsidiary Energtek
Herz d.o.o. Mostar and Aluminij calls for daily delivery of
approximately 36k natural gas cubic meters, which can be translated
roughly into annual revenues of $10MM.
"We are on schedule to reach a total supply of 36,000 cubic
meters per day at the Aluminij plant within the coming months, and
we have every reason to believe that the full capacity of the
entire complex will be even higher," said Ivan Primorac, CEO of Energtek Herz d.o.o.
Mostar.
"What is also encouraging is that there are several other plants
in the region which are closely following our progress.
According to our business plan, as soon as we will complete
full and smooth implementation of our contract with Aluminij, we
will pursue other opportunities in the neighboring area - expanding
our operations and increasing our revenues."
About Energtek
Energtek develops and applies innovative low-pressure mobile
transportation solutions for industrial consumers and fleets of
small vehicles. The company is also involved on oil and gas
exploration in Israel.
Energtek operates subsidiaries in North America, Europe, Asia
and the Middle East. 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
+1-212-999-6202
SOURCE Energtek Inc.