Energtek, Inc., leading developer of the revolutionary ANG (Adsorbed Natural Gas) process for the containment and transportation of natural gas, is expecting its Indian subsidiary, Moregastech India Private Limited, to report its first revenues during the final quarter of 2009. Some see it as just the first move into a profitable future for the company, based upon a huge anticipated demand for its proprietary technology.
The subsidiary is working closely with an Indian entity to augment the country’s pipeline infrastructure through the use of Energtek’s ANG system, which allows gas from the pipeline to be transported to industrial and commercial sites using low pressure bulk transportation. As a result, areas not served by pipelines can now enjoy the reduced cost and low pollution qualities of natural gas, without the expense of transporting high pressure compressed natural gas.
Conservative estimates of revenues for just these initial Indian projects go from $5 million in 2010 to approximately $20 million in 2012, with continued increases thereafter. Multi-year agreements are expected with consumer clients, primarily in North-Central India. In addition, there are many more customers that are out of reach of India’s current gas pipeline network, providing additional opportunity for Energtek’s mobile bulk transportation.
Lev Zaidenberg, Energtek CEO, commented on the effort behind the company’s progress in India. “We have been working in India for a long time to create the conditions that will enable our subsidiary to generate significant revenues. We expect these efforts to start yielding results in the near future, following the final approval of our technology by Indian authorities. This initial project represents a major step for LMP(TM) technology, and will provide a model that is possible to replicate in larger scale throughout many additional regions in India.”
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