Dear Shareholders,
Energtek is pleased to report that Adsorbed Natural Gas (ANG) is being introduced to emerging markets as a commercial technology. Through the implementation of ANG proprietary solutions, Energtek is evolving from a developer of proprietary cleantech to a commercial supplier of Natural Gas.
In
The contract validates Energtek's capability to fulfill its business model, as an ongoing provider of natural gas to small vehicle drivers.
CNG Lite(TM) Small Vehicle Conversions
Utilizing Adsorbed Natural Gas technology, introduced to the Filipino market as CNG Lite(TM), Energtek has successfully converted motorized tricycles (three-wheel vehicles) with highly polluting two-stroke and four-stroke engines to operate on Natural Gas. Testing of these converted vehicles has demonstrated that carbon monoxide emissions are reduced by as much as 95 percent.
Energtek's CNG Lite(TM) system provides ample driving range and high quality vehicle performance with each refueling. The proprietary low-pressure technology, using natural gas adsorption, is particularly-suited to motorcycles and tricycles due to the ease with which Natural Gas cylinders can be manufactured, distributed and then integrated onboard without affecting vehicle balance.
Drivers utilizing Energtek's CNG Lite(TM) conversion and ongoing fuel supply system benefit from a clean technology that is cost-efficient and enables savings of hundreds of dollars a year on gasoline fueling expenses. In addition, by using locally available and indigenous natural gas resources, the CNG Lite(TM) system contributes to the reduction of oil and gasoline imports.
Growth Potential in
The Filipino government has offered its full support for Energtek's proprietary conversion initiative, encouraging and challenging our Company to convert as many as one million of the country's three million tricycles.
Energtek is initiating the first stages of an ambitious plan to convert at least 150,000 vehicles over the next three to four years, and to supply sufficient Natural Gas fuel quantities to each vehicle daily.
Successful implementation of
In order to expand operations across
LMP(TM) Industrial Energy Supply
Energtek is also engaged in production of the LMP(TM) (Low-pressure Mobile Pipeline) semi-trailers, designed to supply natural gas from local sources directly to industrial consumers. Energtek's proprietary low-pressure system reduces the costs of mobile Natural Gas distribution as compared to competing high-pressure CNG systems.
The LMP(TM) ongoing supply system enables large energy consumers to
utilize natural gas to power industrial and commercial operations without
connection to pipeline infrastructure. Through the recent signing of two
Memorandums of Understanding in
Market Trends
2008's record high oil prices and dangerously growing pollution levels
have caused many markets to scramble for alternative energy sources. Major
initiatives have been launched worldwide - from
Toward the close of 2008, the price of crude oil began to decline
significantly from the incredible record highs of earlier in the year. Prices
have since returned to levels last seen in 2007. It should be noted that any
oil price above
Furthermore in many developing nations, government imposed price caps and
subsidies softened the blow of record oil prices to consumers - particularly
in
During the past several years our business development team put together financial models assuming sustained demand for alternative fuel, at current oil prices. At these prices, our business model remains both viable and profitable.
Realizing Our Potential
Energtek is pleased to offer working, viable, and affordable proprietary
technology for the pipeless distribution of Natural Gas to the small vehicle
and industrial energy consumption markets in
Energtek is anticipating a growing revenue stream in 2009, through the
full implementation of the CNG Lite(TM) and LMP(TM) supply systems in
We would like to offer our sincere thanks to our valued shareholders for their encouragement and support of our success thus far. We look forward to the fulfillment of our mutual vision by delivering tangible results in the coming year and beyond.
Sincerely, Lev Zaidenberg CEO, Energtek Forward-Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain, 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 statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release, as actual results may differ materially from those indicated in the forward-looking statements. These forward-looking statements involve a number of risks and uncertainties, including without limitation, market penetration of our products, competitive market conditions, and the ability to secure sufficient sources of financing. The actual results Energtek may achieve could differ materially from any forward-looking statements due to such risks and uncertainties. Energtek encourages the public to read the information provided here in conjunction with its most recent filings on Form 10-K and Form 10-Q. Energtek's public filings may be viewed at http://www.sec.gov.
Contact: +1-(212)999-6202 IR@energtek.com
SOURCE Energtek Inc.