Energtek in Balkans and Serbia21. September 2011. / Uncategorized
Energtek has made the most significant commercial advancements since the financial crisis of 2008. These developments in the commercial industrial sector have fully validated our business model to acquire and resell energy at a profit, by leveraging on our proprietary technology and knowhow.
During the past year, efforts have been focused on providing alternative energy to industrial consumers in the former Yugoslavia. Since the beginning of 2011, Energtek has been running a revenue-earning pilot project in Serbia.
Following completion of the pilot, Energtek signed multi-million dollar natural gas transportation contracts in Bosnia and Herzegovina, connecting between a natural gas provider and two large local energy consumers. The 10-year contract is expected to yield revenues of approximately $30,000,000 in the next three years, with expected total revenues of about $100,000,000.
Since our inception, Energtek has been dedicated to developing and implementing cost-effective natural gas energy solutions for industrial consumers and large fleets of small motor vehicles. Our company has specialized in developing proprietary low-pressure storage and mobile transportation solutions, enabling competitive ongoing supply of natural gas to consumers that are not connected to pipeline infrastructure.
Energtek’s proprietary Low-pressure Mobile Pipeline (LMP) Technology enables us to deliver natural gas from an indigenous energy source to a consumer utilizing low-pressure compression. Low-pressure reduces the costs of infrastructure as well as the ongoing costs of natural gas compression and decompression, providing a cost-effective alternative energy solution for the end user.
Energtek’s technological knowledge and experience in developing complete natural gas supply solutions for industrial consumers, enables us to customize competitive solutions that are adapted to meet each customer’s unique needs.
Over the past several years, our solutions have gained significant interest from private industry and governmental agencies in developing nations around the world.
Since the start of 2011, we have been engaged in the preparation of infrastructure necessary to fulfill our signed agreements in Bosnia and Herzegovina. Together with a strategic local partner, we have created a subsidiary in Bosnia and Herzegovina, Energtek Herz d.o.o. Mostar.
Works to implement the signed contracts have been taking place during the past several months, including the conversion of the customer’s facilities and the purchase of equipment. Natural gas supply is expected to commence in Q1 2012.
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