Thursday, October 18, 2012
American Power Group Corporation (OTCQB: APGI) announced today that its subsidiary, American Power Group, Inc. ("APG") has received orders for vehicular dual fuel conversions valued at more than $500,000. These orders were received from several certified dealers and customers who intend to install APG's dual fuel system on forty-two heavy-duty trucks. The certified dealers intend to distribute these dual fuel trucks to more than thirty prospective customers so that they may evaluate the costs savings and benefits of APG's V5000 Dual Fuel Turbocharged Natural Gas(TM) System. Eighteen of these systems were shipped in September with the balance scheduled to be delivered within the next sixty to ninety days.
Lyle Jensen, American Power Group Corporation's President and Chief Executive Officer, stated, "With the eighty-eight EPA Over Useful Life ('OUL') engine family approvals received since May 1, 2012, we are entering the next phase of our production roll-out. The forty-two trucks in this most recent order will be evaluated by fleet owners who operate fleets ranging from hundreds to thousands of trucks. Because the units ordered encompass both CNG and LNG configurations, we are looking forward to receiving important feedback from fleet operators who return to a home base daily as well as long haul routes."
Mr. Jensen further commented, "We are working to complete all remaining EPA OUL emission testing in the next few months, to bring our total to approximately two hundred OUL engine families, representing a multi-million dollar market opportunity. Concurrently, we have begun our Intermediate Age (IUL) testing at the University of Houston Diesel Test Center and anticipate completing our first IUL test within the next 60 days. We believe APG's aftermarket dual fuel technology is the key stepping stone for thousands of fleet owners to gain the economic benefits of the price spread between diesel fuel and natural gas while also enjoying the flexibility and comfort level of diesel-like performance."
Tuesday, October 9, 2012
American Power Group today announced that Lyle Jensen, President and Chief Executive Officer, will be one of the featured lunchtime presenters at the Green Transportation Conference, scheduled to take place on Wednesday, October 24 at the Sheraton Portland Airport Hotel in Portland, Oregon. Mr. Jensen will provide an overview of APG's operations, dual fuel technology, EPA approvals of engine families, and other industry achievements. In addition, a customer vehicle which has been up-fitted with APG's dual fuel solution will be on display at the conference.
The Green Transportation Conference is an alternative fuels and fleet modernization event and organizers anticipate that more than 450 fleet owners and managers will be in attendance.
About American Power Group Corporation American Power Group's alternative energy subsidiary, American Power Group, Inc., provides a cost-effective patented Turbocharged Natural Gas(TM) conversion technology for aftermarket vehicular, stationary and off road mobile diesel engines. American Power Group's dual fuel technology is a unique non-invasive energy enhancement system that converts existing diesel engines into more efficient and environmentally friendly engines that have the flexibility to run on: (1) diesel fuel and liquefied natural gas; (2) diesel fuel and compressed natural gas; (3) diesel fuel and pipeline or well-head gas; and (4) diesel fuel and bio-methane, with the flexibility to return to 100% diesel fuel operation at any time. The proprietary technology seamlessly displaces up to 80% of the normal diesel fuel consumption with the average displacement ranging from 40% to 65%. The energized fuel balance is maintained with a proprietary read-only electronic controller system ensuring the engines operate at original equipment manufacturers' specified temperatures and pressures. Installation on a wide variety of engine models and end-market applications require no engine modifications unlike the more expensive invasive fuel-injected systems in the market. See additional information at: www.americanpowergroupinc.com
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Friday, October 5, 2012
Never trust anyone who claims "green energy" is the losing side of this battle...if it were Mitt's decision all these wind turbines in Iowa would be taken down...or put out of business because green energy is apparently for losers.
In 2011 about 18.8% of the states energy came from wind turbines. With about 4400 megawatt capacity only the largest state in the country has a larger wind energy output. This green energy movement has lead to about 5 billion dollars worth of investments in wind farms.
Thank you wiki for the quick reference http://en.wikipedia.org/wiki/Wind_power_in_Iowa
(CNN) -- Republican nominee Mitt Romney has frequently railed against efforts championed by President Barack Obama steering money to promote "green energy."
He continued that line of attack Wednesday night, decrying what he described as "$90 billion in breaks to the green energy world."
"These businesses, many of them have gone out of business -- I think about half of them -- of the ones that have been invested in have gone out of business," the former Massachusetts governor said.
So are Romney's assertions correct, both about the size of the "green energy" program and what happened to those companies that got money from it?
The Department of Energy proudly touts that the 2009 stimulus authorized $90 billion "in government investments and tax incentives to lay the foundation for the clean energy economy of our future."
Fact Check: Is Donald Trump a small business?
But not all that money has been spent, and not all of it -- in fact, not even half of it -- is being directed to upstart green businesses.
Part of 2009's much larger $787 billion stimulus package,this money went toward things like the weatherization of more than 770,000 homes and cleaning 688 square miles of land formerly used for Cold War-era nuclear testing.
Many individual companies did benefit directly. The government website that tracks stimulus spending lists 27,226 individual awards under the "Energy/Environment" section, totaling just shy of $34 billion.
The Department of Energy this June specified "33 clean energy projects" of a larger scale as part of its "loans program." Of those, financing had been "closed" on 20 of them. The intent was to promote new technologies and approaches, not necessarily old ones.
There are also other things such as high speed rail and smart meters -- which are listed elsewhere, under "Infrastructure," as part of the same overarching stimulus legislation. Accounting for things like that, a report from the Brookings Institution non-partisan think tank this April tabbed the total green stimulus spending at $51 billion.
Then, there's the matter of whether half of those companies that have gotten money "have gone out of business."
A few recipients of the government funds have hit hard times. The most well-known of them is solar panel maker Solyndra, which received a $535 million loan guarantee from the Department of Energy. Two years later, it filed for Chapter 11 bankruptcy.
Fact Check: Oil and natural gas production under Obama
Still, it is unclear where Romney got his figure that "half" those businesses are no longer operating.
The Energy Department cites several success stories like one of the world's largest wind farms in eastern Oregon, massive solar power plants in Arizona and grants to Ford to produce fuel-efficient cars.
In fact, of the 28 funded projects -- involving 23 companies -- listed in a 2012 congressional report, only four involve businesses that were either sold or are not in operation.
So In conclusion:
It is fair to say that the 2009 stimulus authorized $90 billion for green energy, as Romney asserted. Whether or not one terms these as "breaks" is subjective, and one shouldn't assume that all the funds went to specific businesses like Solyndra.
Most of the large projects that benefited from the Department of Energy loan program remain in operation -- contrary to Romney's assertion that "almost half" of them had closed.
Thank you Fact Check from CNN
CNN's Julie In and Greg Botelho contributed to this report.
Apparently some of our potential world leaders struggle with arithmetic....