NEW YORK, November 14, 2011 /PRNewswire/ --
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
completed the first phase of conversion to natural gas of the
facilities of two clients: Aluminij d.d. Mostar
( http://www.aluminij.ba ) and FEAL d.o.o. Mostar
( http://www.feal.ba ).
As previously announced by the Company, the conversion of the
facilities is the first stage required for the provision of natural
gas to the clients. Contracts signed in the region are
expected to yield annual revenues of $10,000,000.
The works (photograph can be seen at
http://www.energtek.com/t/1056-prms-aluminij) were performed with
the involvement of several subcontractors from Germany, Bulgary, Bosnia & Herzegovina, Serbia, and other
countries.
The activities are now entering the second stage, which includes
additional equipment conversion and adaptation in the customer's
premises, and the construction of a filling station within the
facilities of the supplier, BH Gas d.o.o. (http://www.bh-gas.ba) -
the governmental owned sole natural gas transmission provider in
Bosnia and Herzegovina
"Major conversion works were performed satisfactorily," said
Prof. Yuri Ginzburg, CTO of
Energtek. "Our cooperation with both the customers and the
suppliers and subcontractors was very significant for achieving the
stated goals, and we appreciate very much their contribution to the
results. Now we shall dedicate to the implementation of the
second phase, that shall enable starting the supply to our
customers."
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.