Energtek, Inc. (EGTK.PK) Begins Conversion of Tricycles Using Proprietary CNG Lite(TM)
Source: http://Blog.QualityStocks.net/?p=15148Posted on Thursday, April 23rd, 2009 | In Market Commentary, Small & Micro Cap
Energtek Inc. announced this morning that its engineering team has started converting tricycles to operate on natural gas (”NG”) in Metro Manila, as requested by the Government of the Philippines. The company anticipates displaying these converted tricycles to officers of the executive government by April 30.
As announced previously, the Filipino Department of Energy requested Energtek to convert the vehicles with the proprietary CNG Lite(TM) system based on ANG technology. The request came after the department announced its intention to allow tricycles to use natural gas resources allocated to the Natural Gas Vehicle Program for Public Transport (NGVPPT).
According to the press release, Attorney Vigor Mendoza, Chairman of the First United Transport Coalition, is promoting the NG conversion of tricycles in the Taguig and Marikina areas of Metro Manila. The group has submitted official requests for the conversions to the Filipino Government.
“We are very pleased to cooperate with the First United Transport Coalition in its quest to improve the economics of the tricycle drivers in Metro Manila areas,” stated Energtek CEO Lev Zaidenberg. “There is no doubt that the provision of a cheaper and cleaner motor fuel shall contribute both to the welfare of the tricycle drivers and to ecological improvement in the Philippines. The conversions will benefit the entire population”
Representing one of the most popular forms of transportation in the Philippines, gasoline-powered tricycles are known to contribute to dangerous pollution levels. Converting the vehicles to Natural Gas will substantially reduce hazardous emissions and save energy expenditures as natural gas costs a fraction of the price of gasoline.
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ANG technology;, Department of Energy, Energtek Inc., Energy Expenditures, Filipino Government, First United Transport Coalition;, Lev Zaidenberg, Manila, Market Commentary, Natural Gas, Natural Gas Resources, Small & Micro Cap, The Philippines, Vigor Mendoza;
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