StockStars.net – EGTK Hundreds of Millions in Revenue
May 14th, 2009 by beststockreport
Last week, EGTK announced successfully demonstrating its converted natural gas tricycles to government officials in Manila. The three-wheel vehicles were converted specifically for the demonstrations using EGTK’s proprietary CNG Lite™ technology.
CNG Lite™ technology was presented to numerous governmental officials involved in the various aspects of the nation’s public transport programs. Click on the following link to see pictures from the presentation.
http://www.energtek.com/presentations
Tricycles represent one of the most popular forms of transportation in the Philippines and there are millions of gasoline powered tricycles in the metropolitan area of Metro Manila, causing dangerous pollution levels.
The government has announced its intention to include tricycles in the nation’s official Natural Gas Vehicle Program for Public Transport (NGVPPT). Vehicles included in the alternative energy program have been allocated Natural Gas from the Malampaya Offshore Natural Gas Reserve in Batangas, the nation’s largest indigenous energy source.
Converting tricycles to operate on Natural Gas provides a substantial reduction in hazardous emissions and is cost-effective. CNG Lite™ is currently the only commercially-viable system that can be utilized for the mass conversions of tricycles in the Philippines.
EGTK has been requested by the Philippines government to convert AT LEAST ONE MILLION TRICYCLES in the coming years. Conversion of even half the requested amount is expected to yield SEVERAL HUNDRED MILLIONS of DOLLARS in revenue for the provision of equipment, in addition to the yearly recurring revenues of ADDITIONAL HUNDRED of MILLIONS of DOLLARS through the sale of natural gas.
In addition, EGTK also announced that its project in India using the Company’s Low-pressure Mobile Pipeline™ bulk transportation technology is expected to generate revenues of over $5 Million in 2010; over $12 Million in 2011; approximately $20 Million in 2012; and increasing amounts thereafter.
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