NEW YORK, Oct. 8, 2014 /PRNewswire/ -- Energtek Inc.
(OTC BB: EGTK), a leader in hi-tech natural gas solutions and
Adsorbed Natural Gas (ANG) technology, has been informed that
Energtek North Country Inc. ("ENCI"), received an important
regulatory ruling from the Vermont Public Service Board. ENCI
is pleased to announce that the Vermont Public Service Board
exercised its discretion to allow "competitive market forces to
control rates, service quality, and reliability" for ENCI's
commercial and industrial natural gas customers, especially to
small and mid-size enterprises, rather than using regulated
rates.
As a result, ENCI plans to provide natural gas to commercial and
industrial customers via truck delivery in the State of Vermont without Board oversight of
its rates, management, or the construction of its proposed natural
gas compression facility in Swanton, Vermont. In its October 1, 2014 ruling, the Board stated that
ENCI's plan to supply natural gas to customers without pipeline
access will compete with propane and other trucked fuels, relying
on market forces to control price and service
quality.
Timothy Nulty, ENCI's CEO,
stated, "We are excited to bring trucked natural gas to these
markets. We believe our innovative technology will allow our
customers to save money today and profit from the price,
efficiency, and environmental advantages of natural gas over
competing fuels, without waiting for pipeline distribution
infrastructure to be permitted and constructed."
Added Yoav Krill, Energtek's CEO:
"We are reaching our goals as spelled out in our business plan, and
Vermont will be one of the first
states where we begin operations. We sincerely thank the
successful efforts of our ENCI management and legal teams for
receiving the necessary the state rulings allowing deliveries of
natural gas to our customers in 2015."
About Energtek
Energtek develops and
applies innovative mobile transportation solutions for small,
mid-size and large industrial, residential and agricultural
consumers and NGV. Energtek operates subsidiaries in
North America, Europe and Asia.
To learn more about Energtek, visit the newly revamped website:
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
(212) 999.6202
SOURCE Energtek Inc.