The company has also announced a similar project in India,
The three-wheeled ANG vehicles are expected to be the fastest-growing segment of the automotive market with 200 million sales expected, most of them in Asia. Running these critters on natural gas seems like an affordable way to relieve some of the potential pollution that they will bring, although burning ANG still produces CO 2.
- Phillipine's all-electric Eagle G-car takes flight
- First Adsorbed Natural Gas (ANG) powered motorbike completes successful test
Energtek, the Department of Energy of the Philippines and PNOC-EC, to Formally Launch the 'ANG Powered Three-Wheelers' Project
VALLEY STREAM, N.Y., Dec. 11 /PRNewswire-FirstCall/ -- Energtek Inc. (Energtek) (BULLETIN BOARD: EGTK) announced today the formal launch date for the conversion project of three-wheel vehicles to natural gas-powered systems in the Republic of the Philippines. The launch, to take place on December 17, 2007, marks a critical step towards the mass implementation of the cleantech technologies developed by Energtek and will provide significant benefits to the Filipino people.
The launch is organized in conjunction with the Department of Energy of the Republic of the Philippines and the Philippines National Oil Company Exploration Corporation. The event will take place the first day of the Energy Week planned by the Department of Energy. The Secretary of Energy and the CEO of Energtek will both make formal remarks at the event.
Energtek's technology addresses the two and three wheel vehicles market, which comprises the fastest growing segment of the world automotive market. Most of the vehicles in this segment, estimated at about 200,000,000 units, are in Asia. The conversion to Natural Gas provides significant economic advantages to the vehicles' owners, and at the same time provides significant environmental improvements through the reduction of harmful emissions.
Following the successful completion in the Philippines of the conversion and road-test of an Adsorbed Natural Gas-powered three-wheeler, Energtek has been working with all the relevant entities to create opportunities that will benefit the local population.
Lev Zaidenberg, CEO of Energtek commented "With the introduction of our advanced technology, the large number of owners of three-wheelers will benefit from a significant reduction in transportation expenses, while the country as a whole will enjoy significant environmental improvements."
"The event will be a great opportunity to state our commitment, with the full endorsement of the Filipino government, to introduce and implement our technological solutions, providing significant benefits to the Filipino people on multiple fronts."
Mr. Zaidenberg continued, "In addition, we expect our shareholders to significantly benefit from the projects to be implemented, creating a win-win situation for our shareholders and the Filipino people. We expect the successful conversion of three wheeler vehicles to Adsorbed Natural Gas systems to constitute the first step of the introduction of this technology into the vibrant Natural Gas Vehicle markets. We anticipate strong demand for our technology which provides unique solutions for the huge markets of two and three wheelers. Energtek intends to expand these achievements further into the Asian markets, where the highest concentration of two and three wheelers exists."
The Adsorbed Natural Gas technology allows storing Natural Gas under lower pressures than Compressed Natural Gas (CNG) technology, the prevalent technology for Natural Gas Vehicles (NGV). Utilizing ANG technology vastly improves refueling expenses and allows for a more efficient use of the vehicle's space. The lower pressure used by ANG technology allows significant savings in the infrastructure costs of filling stations.