NEW YORK, June 29, 2011 /PRNewswire/ --
Natural Gas Conversion and Supply Contracts Expected
to Yield $10M in Annual
Revenues
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 Energtek Herz d.o.o. Mostar has
started the natural gas conversion of Aluminij d.d. Mostar's
(http://www.aluminij.ba) anode production plant.
The anode production plant, required for the making of aluminum
is the main facility to be provided with natural gas as part of a
10-year ongoing energy supply contract recently signed with
Energtek Herz. Contracts signed in the region are expected to
yield annual revenues of $10,000,000.
The conversion of the Aluminij anode production facility is
expected to be completed within several months.
As part of the conversion process, Energtek Herz has entered
into a major service provider agreement with the German company
Innovatherm GMBH (http://www.innovatherm.de).
Innovatherm GmbH is a leading provider of control systems for
anode baking furnaces. The natural gas conversion of the
Aluminij anode production plant will be jointly performed by
Energtek and Innovatherm.
"Energtek is pleased to have initiated major conversion of Aluminij
d.d. Mostar's production facility," said Prof. Yuri Ginzburg, CTO of Energtek. "Our cooperation
with Innovatherm guarantees that all of the requirements of our
client Aluminij will be appropriately met. Our company is dedicated
to completing all the infrastructure requirements in the shortest
possible timeframe."
"Initiation of this project is a major step for Energtek Herz,
which is quickly establishing itself as a supplier of energy and
conversion systems for industrial consumers in the region,"
Ginzburg added.
About Energtek (EGTK)
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 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.