Energtek and Confidence Petroleum To Commercialize Adsorbed Natural Gas Technology in Southeast Asia

21 March 2008

Energtek Inc., a leading developer of Adsorbed Natural Gas (ANG) technology, and Confidence Petroleum India Limited, one of Asia’s largest cylinder manufacturers and marketers, are forming a joint venture that intends to introduce commercial natural gas mobile supply solutions using Energtek’s proprietary ANG technology in India, Pakistan, Bangladesh, Sri Lanka, and other countries in the region.

Confidence Petroleum will invest $2 million and acquire co-ownership of Energtek’s subsidiary Primecyl LLC, which is currently developing pressure cylinder manufacturing plants in Europe. The join venture will incorporate production facilities in Europe to serve the European and Asian pressure cylinder markets. A fully-owned Primecyl subsidiary, Confi Energtek Asia, will be established to conduct business operations in India and throughout Asia.

In December 2007, Energtek, the Department of Energy (DOE) of the Republic of the Philippines, and the Philippines National Oil Company Exploration Corporation launched a project for the conversion of three-wheel vehicles to natural gas-powered systems with adsorbed natural gas (ANG) storage, in the Republic of the Philippines. (Earlier post.)

Energtek’s adsorbed natural gas (ANG) technology addresses the two and three wheel vehicles market, which represents the fastest growing segment of the world automotive market. Most of the vehicles in this segment—currently estimated at about 200,000,000 units—are in Asia.

ANG technology allows storing an equivalent amount of natural gas under lower pressures than compressed natural gas (CNG) technology, the prevalent storage 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.