SOURCE: American Power Group Corporation

American Power Group Corporation

November 18, 2013 09:00 ET

American Power Group Receives EPA Approvals for 241 Additional OUL Vehicular Engines; Total OUL Approvals Cover 449 Engine Model Years for Six of the Most Popular OEM Engines

Fiscal 2013 OUL Vehicular Revenue Up Four Fold to Over $1 Million

LYNNFIELD, MA--(Marketwired - Nov 18, 2013) - American Power Group Corporation (OTCQB: APGI), announced today that its subsidiary, American Power Group, Inc. ("APG"), has received online notification from the U.S. Environmental Protection Agency ("EPA") that its recent Clean Alternative Fuel Vehicle and Engine Conversion Submissions have been approved for the following Outside Useful Life ("OUL") engines:

  • Daimler/ Chrysler OM457LA, OM460LA (2000-2003)
  • Volvo/Mack E7, EM7, VE, D12 (1996-2002)
  • Cummins C8.3, ISC, ISL, ISM, ISX, L10, N14, M11 (1991-2002)
  • Cummins ISC, ISL (2006-2009) 

The submissions utilized APG's V5000 Dual Fuel Turbocharged Natural Gas™ technology which is required to meet specific design, componentry, and emission compliance criteria per the EPA Final Rule 40CFR Parts 85 and 86.

Lyle Jensen, American Power Group Corporation's Chief Executive Officer, stated, "Due to a growing interest in our dual fuel glider kits as evidenced by the $800,000 glider kit order placed through our WheelTime Network member Clarke Power Services, Inc. in August, we have secured EPA approvals on these additional older model years. APG offers fleet operators the broadest range of OUL Class 8 truck engine model approvals than anyone in the industry for Caterpillar, Cummins, Detroit Diesel, Daimler/Chrysler, Mack and Volvo engine families. During our recent fiscal year ended September 30, 2013, we recognized over $1 million of OUL vehicular revenue as compared to approximately $270,000 during fiscal 2012. We enter fiscal 2014 with over $500,000 in OUL vehicular backlog and a constantly growing quotation pipeline created through our WheelTime Network partners, our regional dealers, and natural gas supply partners."

Mr. Jensen further said, "Our engineering team continues to diligently work to fine-tune our test protocol standards and test equipment compatibility towards the goal of being the first dual fuel conversion technology to receive EPA IUL approval. The IUL approval testing process has been more rigorous than the OUL testing/approval process as evidenced by the fact no one has received IUL approval for their dual fuel technology. To accelerate our IUL testing/approval process we have engaged West Virginia University to begin IUL emissions testing on 2010 - 2012 Selective Catalytic Reduction (SCR) technology engines which will open up the balance of the lower mileage addressable Class 8 truck market."

Mr. Jensen concluded, "We believe the question is no longer will the United States and the global markets adopt dual fuel technology on a large scale for high horsepower engine conversions, but rather when do we reach the tipping point where natural gas conversions become more of the mainstream. Full scale adoption of natural gas engines and dual fuel conversions in the trucking industry are still hampered by an inadequate logistical match to the existing fueling infrastructure, but this hurdle is being overcome every single month as large industry players continue to deploy significant capital for fueling infrastructure. APG sits squarely in front of these dual fuel conversion megatrends with a market leading position based on having the best solution with the most approved engine families, scalable capacity, and the strongest network of authorized dealers and certified installers for both on-road and off-road markets."

APG will be participating (Booth #515) and presenting "Options for Accelerating Natural Gas Adoption in Legacy Heavy Duty Fleets" at the North American Natural Gas Vehicle Conference and Expo in Atlanta, Georgia on November18-21, 2013.

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 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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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, results of future operations, difficulties or delays in developing or introducing new products and keeping them on the market, the results of future research, lack of product demand and market acceptance for current and future products, adverse events, product changes, the effect of economic conditions, the impact of competitive products and pricing, governmental regulations with respect to emissions, including whether EPA approval will be obtained for future products and additional applications, the results of litigation, factors affecting the Company's future income and resulting ability to utilize its NOLs, and/or other factors, which 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, 2012 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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