SOURCE: American Power Group Corporation

American Power Group Corporation

November 12, 2014 09:00 ET

American Power Group's International Dual Fuel Solutions Gain Traction in Latin America With $650,000 Vehicular Conversion Follow-On Order

Order Represents 155% of All Fiscal 2014 International Vehicular Revenue; APG CEO to Present at NGVA Conference November 13th in Kansas City, MO

LYNNFIELD, MA--(Marketwired - Nov 12, 2014) - American Power Group Corporation (OTCQB: APGI) today announced that its subsidiary, American Power Group, Inc. ("APG"), has received a follow-on vehicular conversion purchase order valued at approximately $660,000 from its in-country dealer. While the country, quantity and end-customer have not been disclosed for proprietary reason the units are destined for one customer who had previously ordered 20 conversion systems. The follow-on units will be shipped during the first three quarters of calendar 2015.

Lyle Jensen, American Power Group's CEO, commented, "Our international vehicular conversion revenue in fiscal 2014 grew 53% over the prior year and was heavily influenced by early-adopter revenue from customers in Colombia, Dominican Republic, Mexico and Peru. Dual fuel conversions include heavy-duty trucks, busses and cement mixers with several of the largest construction and energy management companies in Latin America and the world. Mr. Jensen added, "This follow-on order alone represents 155% of all international vehicular revenue last year. Favorable diesel to natural gas price spreads and emerging carbon footprint sustainability standards are driving the demand for a lower emission alternative fuel."

Mr. Jensen continued, "APG has designed their APG V-1000 and APG V-3000 international dual fuel systems to competitively address the different heavy-duty diesel engine technologies and non-CanBus diesel engine technologies we encounter in some of our international markets. Last year's early-adopter testing has validated APG's superior performance over other international dual fuel systems through better net fuel savings due to higher average displacement, better power and torque performance and much higher up-time. APG's growing reputation in Latin American is generating a growing number of inquiries and leads and with thousands of heavy-duty trucks, busses and cement mixers operating in Latin America we see additional vehicular opportunities on the horizon." 

APG will be an exhibiting sponsor (booth #309) this week at the 2014 Natural Gas Vehicle Association (NGVA) Conference & Expo being held November 11-14, 2014, at the Kansas City Convention Center, Kansas City, Missouri. Mr. Jensen will also participate on a panel entitled "Retrofit & Repower Options for Legacy Heavy-Duty Engines" Thursday, November 13th at 1:30 pm Central Time. Mr. Jensen will discuss APG's Dual Fuel conversion solutions for existing legacy fleets including payback, cents per mile cost reductions and sustainability options. 

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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