VALLEY STREAM, N.Y.,
The joint venture, which was announced yesterday at crowded Press and
Analyst Conferences in
Confidence Petroleum will invest
"Our Joint Venture with Energtek will enable us to become a leading
international player in the supply of Natural Gas products, and clean energy
solutions," said Confidence Petroleum Chief Managing Director Nitin Khara.
"We are witnessing over 50 percent growth in the Asian Natural Gas Vehicle
market since 2000, with much of that growth here in
"This agreement allows Energtek and Confidence Petroleum to combine the technology, manufacturing, and marketing resources needed to provide a Natural Gas supply solution that is financially beneficial to energy consumers across Asia," said Lev Zaidenberg, CEO of Energtek Inc. "Together, we can increase the commercial use Energtek's breakthrough ANG technology to help Asian residents drastically reduce the harmful pollution emitted by motorcycles, while providing much-needed relief to consumers and low-income drivers suffering from the rising costs of oil and gasoline."
About Energtek
Energtek develops and applies proprietary ANG technology to provide
complete well-to-wheel pipeless Natural Gas supply solutions to large
automotive and commercial consumers. Efforts are focused on reducing
pollution and alleviating consumer energy costs particularly within the large,
growing market of low-income 2- and 3-wheel vehicle drivers in Asia. Energtek
operates subsidiaries in
About ANG
Adsorbed Natural Gas (ANG) technology enables hi-tech and cost-effective storage of Natural Gas, by maximizing the quantities of gas stored in a tank. ANG greatly reduces the infrastructure, fueling, and energy costs of supply solutions to consumers where no pipeline or refueling infrastructure is present. ANG enables new markets of motor vehicle fleets and large commercial consumers, to benefit from environmentally friendly and affordable Natural Gas.
Forward-Looking Statements
This press release contains forward looking statements, including those related to future product plans, which involve known and unknown risks and uncertainties, which together with other factors could cause actual results to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. For a discussion of these and other known risks and uncertainties, individuals should refer to Energtek's SEC filings. Energtek does not undertake an obligation to update forward-looking statements.
To learn more about the benefits of ANG Technology, visit www.energtek.com, or email ir@energtek.com.
SOURCE Energtek Inc.