SOURCE: American Power Group Corporation

American Power Group Corporation

American Power Group Corporation

March 17, 2014 09:00 ET

WheelTime Network Unveils "No Limits" Fuel Economy Initiative

A Network-Wide Commitment to Maximize Fuel Economy Anchored by APG's Dual Fuel System

LYNNFIELD, MA--(Marketwired - Mar 17, 2014) -  American Power Group Corporation (OTCQB: APGI) announced that during the 2014 Technology and Maintenance Council's Transportation Technology Exhibition on March 9th in Nashville, Tennessee, WheelTime Network LLC's ("WheelTime") President and CEO, Mike Delaney, presented plans to launch a network challenge to expand the normal boundaries of MPG (miles per gallon) thinking and look to significantly increase fuel savings for its customers by using current and readily available APG dual fuel technology and other cost saving initiatives.

On November 28, 2012, American Power Group, Inc. ("APG") signed a National Distributor and Master Marketing Agreement with WheelTime. Under the agreement, WheelTime endorsed American Power Group's dual fuel conversion technology to its 18 member companies and encouraged each member to become a certified installer and authorized dealer of American Power Group's Vehicular Turbocharged Natural Gas Systems. All WheelTime member companies have agreed to become dealers and installers of APG's dual fuel technology.

"The use of natural gas is key to improving fuel savings, but there are challenges that are slowing the transition and general adoption," said Delaney. "Right now, finding high-payback applications for 100% dedicated natural gas vehicles is one of those challenges, when you consider the initial capital investment, availability of on-route fueling stations and the increased maintenance costs. But that doesn't mean there aren't natural gas solutions available to the average fleet right now. APG's dual fuel system offers a great alternative to dedicated natural gas, and a way around many of the obstacles getting in the way of natural gas adoption. For instance, it makes a lot of sense for vehicles where the absolute routing isn't going to be certain over the life of the vehicle -- and that's a real break-through for most fleets."

Delaney continued, "Today, we already have customers reporting a $.15 to $.20 per mile savings using APG's dual-fuel solution. These early savings are impressive, but we believe there is still significant upside in total dual-fuel savings potential. By changing the way we think about fuel, and by combining new but readily available technology with driver training, driver incentives, effective route planning, and other off-the-shelf technologies, we think we can take net fuel savings much higher. We want people to see what an average fleet can do right now without waiting."

WheelTime has begun development of a prototype program with select fleet customers to redefine the boundaries of readily achievable average fuel economy using dual-fuel technology.

The WheelTime "No Limits" fuel economy initiative will look at the following:

  • Optimized use of APG's Dual Fuel Technology 
  • Advanced APG Dual Fuel Glider Utilization 
  • Route and Fuel Tank Optimization 
  • Driver Education & Incentives
  • Use of Real-World Fleet For-Hire Applications
  • Benchmarking, Measurement and Continuous Improvement

Lyle Jensen, American Power Group Corporation's Chief Executive Officer stated, "In an industry where heavy-duty fleet owners are typically looking to save a few pennies per mile, we have the opportunity for a paradigm shift in how we think about net fuel savings. WheelTime's "No Limits" fuel economy initiative is designed to intentionally break through the historical barriers of what is possible and actually demonstrate what is available today. Those fleets that engage and adopt these dual fuel initiatives will redefine their market competiveness for any desired route while simultaneously improving their bottom line." 

Delaney concluded, "In 2013, WheelTime made a commitment to become a center of excellence for natural gas technology installation and service. Since then, WheelTime members have completed more than 150 fuel system/tank installations with future customer orders predicted to more than triple that number in 2014. We have trained technicians representing 43 of our locations. More classes are scheduled and we will continue to expand training in 2014 to keep pace with the expanding demand."

About WheelTime Network LLC
Celebrating its 10th year of service innovation and quality in 2014, WheelTime is North America's largest dedicated service and parts network for Quality Truck Care. Established in 2004 as a strategic alliance among all North American Detroit Diesel-Allison distributors, the founding goal of the WheelTime Network was to adopt and implement a common set of quality metrics that would help members monitor and continually enhance specific service performance criteria as defined by their customers. Each WheelTime member is an equity owner in the Network and has a vested interest in achieving WheelTime's exclusive truck repair service metrics and standards. Over $13 million in systems and staffing resources has been invested by the 18 member Network to create and manage systems and metrics that enhance repair quality, service consistency and customer satisfaction on all-makes of truck repairs. In addition to more than 30 training facilities and more than 200 service centers located across the U.S., Canada and Australia, WheelTime members also offer mobile repair services and on-site truck care through more than 1,500 service vehicles. WheelTime strives to be easy to do business with while remaining focused on speed and customer priorities as it drives toward delivery of a consistent experience everywhere. For more information about WheelTime, or to find the nearest service location, log on to: www.wheeltime.com.

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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    American Power Group Corporation
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