Over 200 Diesel Frack Engines/Pumps Converted To APG's Dual Fuel Over The Past 24 Months
ALGONA, IA / ACCESSWIRE / October 12, 2021 / American Power Group Corporation ("APG") (OTC PINK:APGI) announced today that it has received a $1.4 million follow on order from its lead dealer/installer, Comanche Gas Solutions, LLC ("Comanche"). The order is anticipated to ship during the quarter ended December 31, 2021. APG has an additional $2.5 million of outstanding customer quotes spread among several of their stationary dealer/installers, including Comanche.
Chuck Coppa, APG's CEO/CFO stated, "Comanche has been a great partner and our most prolific stationary dealer/installer for the fracking market. Over the past two years, Comanche has installed 150+ of our S4000 dual fuel systems in the Permian, Haynesville, and Marcellus shale regions of the United States. We look forward to continuing to grow our footprint within the fracking market along-side Comanche".
Greg Brown, Comanche's CEO stated, "Comanche is very pleased to include American Power Group conversion kits to our expanding portfolio of environmental initiatives. Paired with Comanche's natural gas distribution and diesel displacement services, dual fuel conversion kits provide operators with the right offering to realize immediate results for their complex operations. We believe the next step in our evolution is to bring APG's technology into the drilling market."
Mr. Coppa added, "During the quarter ended September 30, 2021, APG completed its first dual fuel conversion utilizing captured flare-stack methane which would have otherwise gone to atmosphere. This sequestration of available wellsite waste-stream-energy delivers both economic and sustainable benefits in reducing diesel-related criteria pollutants and carbon green-house-gas emissions providing tangible and measurable results for companies with Environmental, Safety and Governance ("ESG") goals. The economic and ESG emission benefits of utilizing APG's S4000 dual fuel solution has created a noticeable increase in demand from a much wider base of oil and gas services providers who are now being required to convert their service equipment to dual fuel if they want to maintain market share. APG has the broadest EPA compliant engine coverage of CAT, Cummins, and MTU Tier II and Tier IV diesel engines of anyone in the industry."
Mr. Coppa concluded, "As we enter fiscal 2022, we are preparing to start third-party EPA emission compliance testing on three additional Tier IV diesel engine platforms which will allow us and our dealer/installer network to continue expanding APG's market share and footprint. Our first Tier IV dual fuel emission testing results validated our impressive emission results where diesel criteria pollutants were 45% to 54% lower than the required EPA regulation standard."
About Comanche
Comanche, which is headquartered in Comanche, Texas is an innovative fueling services provider in the oil and natural gas fields across the United States. In addition to being an industry leader in dual fuel conversions of diesel pumps and diesel engines, Comanche also designs and manufactures natural gas distribution systems for frac pump operations; provides on-site natural gas fuel and displacement management; and offers field gas conditioning treatment equipment.
About American Power Group Corporation
American Power Group's subsidiary, American Power Group Inc. provides cost effective dual fuel engine solutions to help accelerate an alternative fuel low-carbon future. Our patented Turbocharged Natural Gas® Dual Fuel Conversion Technology is a unique non-invasive hardware and software solution that can enable existing high-horsepower vehicular and stationary diesel engines to safely displace a significant percentage of diesel with various forms of clean burning natural gas including low-carbon and negative-carbon renewable natural gas (RNG), captured flare-stack methane gas, conditioned well-head gas, bio-methane gas, compressed natural gas (CNG) and liquid natural gas (LNG). APG's dual fuel solution provides users with a proven technology to meet their Environmental, Social and Corporate Governance ("ESG") objectives by lowering criteria pollutants and greenhouse gas emissions. See additional information at: www.americanpowergroupinc.com
Caution Regarding Forward-Looking Statements and Opinions
The matters described herein contain forward-looking statements and opinions, including, but not limited to, statements relating to expected net sales for the fiscal year ending September 30, 2021 and beyond. These forward-looking statements and opinions are neither promises nor guarantees, but involve risks and uncertainties that may individually or mutually impact the matters herein, and cause actual results, events and performance to differ materially from such forward-looking statements and opinions. These risk factors include, but are not limited to, the fact that, our dual fuel conversion business has lost money in a majority of the prior fiscal years and the risk that we may require additional financing to grow our business, the fact that we rely on third parties to manufacture, distribute and install our products, we may encounter difficulties or delays in developing or introducing new products and keeping them on the market, we may encounter lack of product demand and market acceptance for current and future products, we may encounter adverse events or economic conditions, we operate in a competitive market and may experience pricing and other competitive pressures, we are dependent on governmental regulations with respect to emissions, including whether EPA approval will be obtained for future products and additional applications, the risk that we may not be able to protect our intellectual property rights, factors affecting the Company's future income and resulting ability to utilize its NOLs, the fact that our stock is thinly traded and our stock price may be volatile, and the fact the exercise of stock options and warrants will cause dilution to our shareholders. Readers are cautioned not to place undue reliance on these forward-looking statements and opinions, which speak only as of the date hereof. Except as required by law, the Company undertakes no obligation to release publicly the result of any revisions to these forward-looking statements and opinions that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Investor Relations Contact:
Chuck Coppa, CEO/CFO
American Power Group Corporation
781-224-2411
[email protected]
SOURCE: American Power Group Corporation