SOURCE: American Power Group Corporation

American Power Group Corporation

October 07, 2014 09:00 ET

American Power Group Announces New S4000 Dual Fuel Series for High Horsepower Engines

APG CEO to Present at High Horsepower (HHP) Summit 2014 October 7-9 in New Orleans

LYNNFIELD, MA--(Marketwired - Oct 7, 2014) - American Power Group Corporation (OTCQB: APGI) announced today that its subsidiary, American Power Group, Inc. ("APG") will introduce its new S4000 Series Stationary Dual Fuel System at the High Horsepower (HHP) Summit October 7 - 9, 2014 at the Ernest N. Morial Convention Center, New Orleans, Louisiana. Lyle Jensen, American Power Group's Chief Executive Officer will participate on two HHP Summit panels (today, October 7th at 3:30 PM "Drilling Engines and Conversion Kits: Optimizing Fuel Cost Savings" and Wednesday, October 8th at 3:00 PM "Pressure Pumping Engine Optimization: Fracturing Your Fuel Costs") addressing APG's dual conversion solutions for drilling engines and high pressure pumping engine optimization. APG will also be located at booth 838 during the Summit.

The APG S4000 Series has been designed to maximize oil and gas field performance utilizing a wider range of pipeline and conditioned well-head gas quality across the various shale basins in North America. Hardware upgrades include new engine anti-knock protection technology, upgraded display information as well as improvements to the durability of the hardware given the remote and difficult operating conditions many engines perform under. Software upgrades include telematics remote monitoring, auto-CanBus synchronization and upgraded variable fuel utilization programs.

Ed Wolf, American Power Group's Director of Stationary Business Development stated, "Several well-known drilling service contractors have recently conducted side-by-side field performance evaluations between APG and other dual fuel solutions in order to baseline actual performance results versus claimed performance metrics. We have been very successful in these evaluations due to having the best price, best overall up-time, highest overall average displacement fuel savings and the best operational flexibility and adaptability in the field. APG's dual fuel design continues to be noted for its high up-time and ease of operation resulting in significant net savings at the lowest total cost of ownership." Mr. Wolf added, "As we expand into other shale basins across North America, we are facing a wider energy range of natural gas quality. With our new S4000 variable fuel utilization software, we are able to perform under more diverse conditions and maximize performance and improve economic payback for a larger number of oil and gas customers."

Lyle Jensen, American Power Group's Chief Executive Officer commented, "The initial feedback on our S4000 performance in the field has been excellent with side by side evaluation testing demonstrating higher uptimes and higher overall average diesel displacement running 4% to 5% better than our competition. APG's ability to handle a wider quality range of pipeline and field gas will open up new regional markets like the Williston/Bakken basin, one of the fastest growing shale areas with approximately 200 rigs operating over 1,000 eligible diesel engines. We have received our first order for a dual fuel rig in the Williston/Bakken area which will be installed in the near future."

About American Power Group Corporation
American Power Group's alternative energy subsidiary, American Power Group, Inc., provides a cost-effective patented Turbocharged Natural Gas® conversion technology for 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 75% 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.

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 five consecutive fiscal years, 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, 2013 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.

Contact Information

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