Move Intended to Support Pent-Up Demand for Diesel-to-Natural Gas Engine Conversions With Recent EPA Approval
SAN MARCOS, Calif., Jan. 24, 2013 (GLOBE NEWSWIRE) -- Omnitek Engineering Corporation (OTCBB:OMTK) today announced the signing of a new lease for a facility near its current location that more than doubles its size to approximately 25,000 square feet -- an initiative intended to support the anticipated strong domestic demand for diesel-to-natural gas engine conversions, as well as continued international market growth.
As recently announced, the Environmental Protection Agency (EPA) has approved the company's submission for its diesel-to-natural gas conversion technology for the widely operated line of heavy-duty Navistar DT466E and DT530E engines under specific and rigorous criteria related to the agency's Outside Useful Life definition.
"In addition to conversion activities related to these two Navistar engines and the different configurations, which represents an estimated addressable market of 1.5 million potential conversions, the new facility is designed to support additional engine development programs – including sales support, training and manufacturing," said Werner Funk, president and chief executive officer of Omnitek Engineering.
"We are continuing to focus on appointing dealers and authorized installers to support anticipated demand for conversions, and look forward to significant domestic growth from the build-out of our domestic conversion centers across the United States," Funk added.
The company expects to obtain EPA approval for other diesel engine models to address the anticipated increasing demand from trucking fleets that operate with other diesel engine models. Industry sources estimate the total number of heavy-duty diesel trucks in the USA exceeds eight million and the large majority of these trucks could benefit from Omnitek's patented technology, which has been utilized outside the United States since 2001.
The company's new headquarters will be located at 1333 Keystone Way, Vista, California, effective March 1, 2013.
About Omnitek Engineering Corporation
Omnitek Engineering Corp. develops and sells proprietary diesel-to-natural gas 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.
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.
CONTACT: Gary S. Maier
Maier & Company, Inc.