2022-08-08 | PIN:APGI | Press release
ALGONA, IA and MIDDLESEX, NJ /ACCESSWIRE/August 8, 2022/ American Power Group Corporation (“APG”) (OTC Pink: APGI) and Galileo Technologies US (“Galileo”) today jointly announce their plan to leverage their complementary alternative fuels capabilities and jointly pursue opportunities that can reduce net fuel costs and reduce carbon emissions. programs for their customers.
Galileo Technologies is a global company headquartered in the United States in Middlesex, New Jersey, and present in more than 70 countries to market its natural gas compression, regasification and liquefaction equipment and services. . Galileo uses state-of-the-art technology and proprietary modular compression designs to deliver a full range of turnkey service applications with modern SCADA monitoring. Galileo refueling equipment can enable the monetization of natural gas from any source (wellhead, flared, pipeline or stranded) by converting it to low-carbon RNG, CNG or LNG. The result is greater efficiency and reduced fuel consumption. The modular and compact “Plug-and-Play” construction of the Cryobox™, Nanobox™, Microbox™ and Gigabox™ units makes them flexible, minimizing installation and operating costs and maximizing equipment availability for all types of vehicle fleets and fleet sizes.
Matt Van Steenwyk, President of APG, said: “We are delighted to align ourselves with Galileo, as we believe APG’s low-cost, dual-fuel solution can positively impact demand for all different configurations of natural gas that Galileo’s equipment can produce at lower cost. between the oil and gas stationary energy industry and the class 8 trucking industry, it would appear that our strategic focus and complementary capabilities provide a unique technology platform focused on decarbonizing the logistics supply chain energy and transport.
Ty Webb, Senior Vice President of Sales at Galileo, said: “The market needs turnkey, quick-to-market, value-added modular solutions that our Cryobox™, Gigabox™, Microbox™ and Nanobox™ systems can provide. . Our expanding network of CNG/RNG and LNG facilities in North America provide an accessible field support service throughout the life of the project, from concept to execution. In essence, Galileo and APG can enable our collective customers to better control their fuel needs by sourcing natural gas closer to home. Traditional distillate fuel supply chains and refining networks are operating at full capacity and unavoidable, planned or no, create uncertainty in supply and costs that can be significantly mitigated by using regional sources of natural gas to improve reliability and reduce fuel consumption. We look forward to working with the APG Dual Fuel team to maximize alternative fuel business opportunities that will benefit our mutual customers.”
About American Power Group Corporation (www.americanpowergroupinc.com)American Power Group’s subsidiary, American Power Group Inc. (“APG”), provides cost-effective alternative fuel solutions for diesel engines to significantly reduce methane criteria pollutants and help accelerate a low-energy future. carbon emission. APG’s Dual Fuel conversion technology is a unique, patented hardware and software solution that enables heavy-duty diesel engines to safely replace up to 65% of diesel fuel with natural gas. Engines equipped with APG’s Dual Fuel technology can use renewable natural gas (RNG), compressed natural gas (CNG), liquefied natural gas (LNG), flared methane and wellhead gas conditioning, which reduces costs, reduces carbon emissions and lowers emissions criteria. Additionally, APG’s Dual Fuel conversion technology remains fully compatible with biodiesel and eligible renewable diesel fuels, further reducing a diesel engine’s carbon footprint and providing users with proven, regulation-compliant technology to achieve their environmental, social and corporate governance (“ESG”) objectives.
About Galileo Technologies (www.galileoar.com)Galileo Technologies is a high-tech company at the cutting edge of engineering and manufacturing of high value-added solutions. For more than 30 years, he has expanded access to energy sources by advancing carbon footprint reduction in more than 70 countries. Characterized by their modularity and scalability, Galileo technologies offer solutions for the production, distribution and use of compressed natural gas (CNG), liquefied natural gas (LNG), renewable natural gas (RNG) and hydrogen (H2).
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 current bi-fuel conversion quotes for $3M+ and our ability to turn those quotes into actual orders. . These forward-looking statements and opinions are neither promises nor guarantees, but involve risks and uncertainties that may individually or mutually affect the matters described herein and cause actual results, events and performance to differ materially from those forward-looking statements and opinions. These risk factors include, but are not limited to, the fact that we may not be able to convert more than $3 million in quotes to actual orders, the fact that our bi-fuel conversion business lost money in previous years and the risk that we may need 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 maintaining them in the market, we may experience a lack of product demand and market acceptance for current and future products, we may experience adverse events or economic conditions, we operate in a competitive market and may experience pricing and other competitive pressures, we are subject to government regulations and n 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 future revenues of the Company and the resulting ability to use its NOLs, the fact that our shares are thinly traded and the price of our shares may be volatile, and the fact that the exercise of stock options and warrants will result in dilution for 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 publish 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 unforeseen events.
Contact with Investor Relations:
Chuck Coppa, CEO/CFO
American Power Group Corporation
THE SOURCE: American Power Group Corp.
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