Energtek Subsidiary Begins Commercial Delivery of Natural Gas to Industrial Energy Consumer in Serbia
March 07 2011 - 7:00AM
Marketwired
Energtek Inc. (PINKSHEETS: EGTK), a leader in hi-tech natural gas
solutions and Adsorbed Natural Gas (ANG) technology, today
announced that its subsidiary Pan Energy has been successfully
implementing a revenue generating pilot natural gas delivery and
supply project for an industrial energy consumer near Belgrade,
Serbia, since the beginning of 2011.
Pan Energy is selling the natural gas to a local food
manufacturer, using mobile transportation solutions. This
commercial project has been flawlessly running as a pilot project
for over two months, constituting Pan Energy's first source of
steady revenues.
The successful implementation of this project has greatly
enhanced Pan Energy's position in negotiations with natural gas
suppliers, customers and equipment manufacturers in the area. As a
result, the company expects to announce additional agreements in
the near future.
"We are excited to be generating our first steady revenues from
sales in the Serbian market," said Energtek CEO Lev Zaidenberg.
"Our ability to deliver an affordable alternative source of energy
to this customer is paving the way for additional contracts."
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 with oil and gas exploration in Israel. Energtek
operates subsidiaries in North America, Europe, Asia and the Middle
East. To learn more about Energtek, visit 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
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