Energtek’s Receives Final Approvals for Filling Station in Balkans
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
“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.
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.
Energtek Inc. 11 East 44th St., New York, NY 10017, USA Tel +1(212)999-6202 Fax +1(212)208-4344 firstname.lastname@example.org http://www.Energtek.com
SOURCE Energtek Inc.