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VISTA, Calif., June 3, 2015 (GLOBE NEWSWIRE) -- Omnitek Engineering Corp. (OTCQB:OMTK) today announced the company's exclusive distributor in Turkey, Teknosis, has expanded its strategic position in that country through a collaborative alliance with natural gas infrastructure company Naturelgaz and Hayat Inovasyon, a subsidiary of Hayat Holding, the seventh largest conglomerate in Europe, with a near-term goal to accelerate the utilization of natural gas engines for heavy-duty truck applications and municipal buses.
Omnitek has already shipped multiple orders for diesel-to-natural gas engine conversion kits to Teknosis, with expectations of a sharp ramp-up in the months ahead.
"Our partnership in Turkey provides public and private customers with a cost-effective alternative to high-polluting diesel powered engines and costly new natural gas vehicle purchases, with a payback-period as short as four months due to the price difference between diesel and natural gas in Turkey. In addition, the country's expanding infrastructure of compressed natural gas (CNG) refueling stations, mostly owned and operated by Nauturelgaz, complements our strategic growth plans in Turkey and provides a model for other countries to emulate," said Werner Funk, president and chief executive officer of Omnitek Engineering Corp.
"We are extremely pleased to be working with Naturelgaz and Hayat Holding in Turkey, as each has an existing large customer base. Turkey is a very important market for Omnitek; and, we are planning to open a R&D center to accelerate the development of conversion kits for specific engines operating in the Turkish market," Funk added.
Separately, Funk noted environmental policies in China and Mexico, in addition to diesel fuel price economics, have accelerated business opportunities in both countries. "Our partnership in China is gaining meaningful traction and our strategic alliance with LKQ in Mexico is continuing according to plan. We look forward to reporting an update to developments in these two important regions, in addition to our domestic conversion activities," Funk said.
About Omnitek Engineering Corp.
Omnitek Engineering Corp. develops and sells proprietary diesel-to-natural gas engine conversion systems and complementary products, including new natural gas engines that utilize the company's technology -- providing global customers with innovative alternative energy and emissions control solutions that are sustainable and affordable. Additional information is available at www.omnitekcorp.com
Some of the statements contained in this news release discuss future expectations, contain projections of results of operations or financial condition or state other ``forward-looking'' information. These statements are subject to known and unknown risks, uncertainties, and other factors that could cause the actual results to differ materially from those contemplated by the statements. The forward-looking information is based on various factors and is derived using numerous assumptions. Important factors that may cause actual results to differ from projections include, among many others, the ability of the Company to raise sufficient capital to meet operating requirements, completion of R&D and successful commercialization of products/services, patent completion, prosecution and defense against well-capitalized competitors. These are serious risks and there is no assurance that our forward-looking statements will occur or prove to be accurate. Words such as ``anticipates,'' ``expects,'' ``intends,'' ``plans,'' ``believes,'' ``seeks,'' ``estimates,'' and variations of such words and similar expressions are intended to identify such forward-looking statements. Unless required by law, the Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
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