NEW YORK, November 8, 2010 /PRNewswire via COMTEX/ -- Energtek Inc., a leader in hi-tech natural gas solutions and Adsorbed Natural Gas (ANG) technology, today announced that its recently formed subsidiary, Pan Energy d.o.o., has signed a gas supply contract with an industrial energy consumer in Northern Belgrade, Serbia.
Natural gas will be transported from a filling station by Pan Energy to a local dairy factory. The contract provides for the ongoing supply of natural gas, utilizing Energtek's cost-effective and environmentally-friendly mobile transportation solutions. The transportation project will help test the local technological, organizational and regulatory components of the supply system in Serbia.
"Pan Energy's first customer in Serbia will demonstrate the effectiveness of Energtek's bulk transportation natural gas solutions," said Energtek CEO Lev Zaidenberg. "Our mobile solutions enable the delivery of a viable and affordable alternative energy source. With the success of this pilot project, we anticipate growing regional demand for natural gas supplied by Pan Energy."
About Energtek
Energtek develops and applies innovative low-pressure storage technology and expertise to provide complete well-to-wheel pipeless Natural Gas supply solutions to industrial consumers and fleets of small vehicles. Energtek's Natural Gas solutions reduce pollution and alleviate consumer energy costs. Energtek provides competitive bulk transportation solutions to industrial users and alternative motor fuel solutions for 2- and 3-wheel vehicle drivers in Asia. Energtek operates subsidiaries in North America, Europe, Asia and the Middle East. To learn more about Energtek, visithttp://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.
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