LYNNFIELD, MA--(Marketwired - Aug 10, 2016) - American Power Group Corporation (
WW Transport was founded in 1991 and is headquartered in West Burlington, Iowa. They are experts in specialized freight. In addition to normal hauling of flatbed and heavy-haul type business, WW Transport specializes in its award winning food grade bulk hauling, both liquid and dry bulk, as well as their refrigeration division.
Kyle Weuve, WW Transport's Chief Financial Officer, stated, "We are strong believers in the long term economic and environmental benefits of using natural gas as an alternative transportation fuel as evidenced by the significant investments we have made thus far in natural gas fueling infrastructure and natural gas vehicles. During the past three years, APG's dual fuel conversion technology has become an important and growing piece of this commitment due to its ease of use, reliability and retention of diesel-like power and torque which is critical for our heavy-haul routes. The reduction in harmful diesel-related emissions is an added bonus towards achieving our corporate and customer driven sustainability goals." Mr. Weuve added, "We believe that APG provides the best natural gas dual fuel conversion technology at the lowest total cost of ownership available in the market."
Lyle Jensen, CEO of American Power Group, commented, "WW Transport has become a natural gas sustainability leader utilizing natural gas fueling stations, dedicated natural gas trucks and APG's natural gas dual fuel conversion technology to meet today's logistics needs with a cleaner alternative fuel solution. There are not many fleets in the United States that have more than 100 heavy-duty trucks running on some form of natural gas so APG is pleased that our field performance has achieved this customer satisfaction milestone. APG has carved out a specialized niche where our EPA and CARB qualified dual fuel systems are the only effective natural gas solution in the 13L to 15L Class 8 truck performance range for power and torque and diesel-related emission reductions. Fleets with heavy-haul routes and tanker fleets no longer have to compromise driver satisfaction with under-powered natural gas systems. We look forward to supporting all customer sustainability objectives with our high-horsepower alternative fuel solutions."
About American Power Group Corporation American Power Group's subsidiary, American Power Group, Inc. provides cost effective sustainability products and services that promote the economic and environmental benefits of our alternative fuel and emission reduction technologies. Our patented Turbocharged Natural Gas® Dual Fuel Conversion Technology is a unique non-invasive software driven solution that converts existing vehicular and stationary diesel engines to run concurrently on diesel and various forms of natural gas including compressed natural gas, liquefied natural gas, conditioned well-head/ditch gas or bio-methane gas with the flexibility to return to 100% diesel fuel operation at any time. Depending on the fuel source and operating profile, our EPA and CARB approved dual fuel conversions seamlessly displace 45% - 65% of diesel fuel with cleaner burning natural gas resulting in measurable reductions in nitrous oxides (NOx) and other diesel-related emissions. Through our Trident Associated Gas Capture and Recovery Technology, we provide oil and gas producers a flare capture service solution for associated gases produced at their remote and stranded well sites. These producers are under tightening regulatory pressure to capture and liquefy the flared gases at their remote and stranded well sites or face significant oil output reductions. With our proprietary Flare to Fuel™ process technology we can convert these captured gases into natural gas liquids ("NGL") which can be sold as heating fluids, emulsifiers, or be further processed by refiners. Given pending federal methane capture regulations, we anticipate our next generation NGL processing systems will have the capability to convert the residual flared methane into pipeline quality natural gas that can be sold for a variety of dedicated and dual fuel vehicular, stationary, industrial and household uses. See additional information at: www. americanpowergroupinc.com
Caution Regarding Forward-Looking Statements and Opinions With the exception of the historical information contained in this release, the matters described herein contain forward-looking statements and opinions, including, but not limited to, statements relating to new markets, development and introduction of new products, and financial and operating projections. These forward-looking statements and opinions are neither promises nor guarantees, but involve risk 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 the last seven consecutive fiscal years and our flare gas capture and recovery business has yet to generate measurable revenues, 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 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, the fact that we have preferred stock outstanding with substantial preferences over our common stock, the fact that the conversion of the preferred stock and the exercise of stock options and warrants will cause dilution to our shareholders, the fact that we incur substantial costs to operate as a public reporting company and other factors that are detailed from time to time in the Company's SEC reports, including the report on Form 10-K for the year ended September 30, 2015 and the Company's quarterly reports on Form 10-Q. Readers are cautioned not to place undue reliance on these forward-looking statements and opinions, which speak only as of the date hereof. 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 Contacts: Chuck Coppa CFO American Power Group Corporation 781-224-2411 Email Contact Mike Porter Porter, LeVay, & Rose, Inc. 212-564-4700 Email Contact
