American Power Group to Showcase Their V7000 Class 8 Truck Dual Fuel Solution as a Sponsor of The Transport Project’s Inaugural Better Than Zero Summit June 24-26, 2024
ALGONA, IA / ACCESSWIRE / June 24, 2024 / American Power Group Corporation ("APG") (Pink:APGI),the leading dual fuel diesel engine conversion technology company, is pleased to announce their sponsorship role as well as participation on a panel discussion of The Transport Project's Inaugural Better Than Zero Summit, to be held June 24-26, 2024 at the Westin Downtown Nashville, Nashville, TN. Headquartered in Washington, D.C., The Transport Project is a national coalition of roughly 200 fleets, vehicle and engine manufacturers, servicers, suppliers, fuel producers and fuel providers dedicated to the decarbonization of North America's transportation sector.
APG is sponsoring the "Achieve Better Than Zero Today with RNG" panel discussion on Tuesday, June 25, 2024 which will address the growing popularity and use of renewable natural gas ("RNG") and how the use of RNG in lieu of fossil natural gas can significantly reduce a vehicle's emission profile. APG has received third party validation that it's Dual Fuel Solution displacing 50-60% of diesel consumption with RNG from dairy manure could generate an estimated carbon intensity ("CI") score of the fuel of between -104 to -145 gC02e/MJ and avoid between 500 to 610 metric tons of CO2 per year per vehicle.
At 11 AM on Tuesday, June 25, 2024, APG's CEO/CFO Chuck Coppa, will participate as a panel member for the panel discussion "Clean Heavy-Duty Vehicle Technologies". Mr. Coppa will be discussing APG's practical, affordable, and proven alternative fuel solution to convert existing Class 8 diesel trucks with APG's V7000 Dual Fuel System. With no loss of power and torque, the V7000 Dual Fuel solution provides the ability to realize meaningful net fuel savings through the substitution of up to 60% natural gas including low-carbon and negative-carbon renewable natural gas. This can significantly lower diesel-related criteria pollutants and improve a fleet's CI footprint. APG has an industry-leading 500+ EPA engine family approvals and multiple CARB Executive Orders for vehicular solutions.
Mr. Coppa stated, "We believe there is no one silver bullet solution available to reduce heavy-duty diesel truck emissions but APG's dual fuel technology is one of the readily available options to diesel fleets who want to start dipping their toes into alternative fuels on a very cost-effective basis. While ideally, from an emissions perspective, heavy-duty trucks should be running 100% on some form of natural gas, electricity or hydrogen, we know cost is one of the key drivers in making the decision to move away from diesel to an alternative solution. According to the American Trucking Association, 95.8% of all carriers operate 10 or less trucks and 99.7% operate 100 or less trucks so we believe most are either just hesitant of change or don't have the financial resources to completely swap out their entire diesel fleet for cleaner burning vehicles. We see ourselves as a transition technology available to fleets to start the process now, especially in the heavy-duty transportation segment."
American Power Group's subsidiary, American Power Group Inc., ("APG"), provides cost-effective alternative fueling solutions for diesel engines to significantly reduce methane criteria pollutants and help accelerate a low-carbon future. APG's Dual Fuel conversion technology is a unique patented hardware and software solution that enables high-horsepower diesel engines to safely displace up to 60% of diesel fuel with natural gas. Engines equipped with APG's Dual Fuel technology can use renewable natural gas (RNG), compressed natural gas (CNG), liquefied natural gas (LNG), captured flare-stack methane and conditioned well-head gas resulting in lower cost, lower carbon, and lower criteria pollutant emissions. Additionally, APG's Dual Fuel conversion technology remains fully compatible with eligible biodiesel blends and renewable diesel fuels further reducing a diesel engine's carbon footprint and provide users with a proven regulatory compliant technology to meet their Environmental, Social and Corporate Governance ("ESG") objectives.
About The Transportation Project (www.transportproject.org)
Headquartered in Washington, D.C., The Transport Project is a national coalition of roughly 200 fleets, vehicle and engine manufacturers, servicers, and suppliers, and fuel producers and providers dedicated to the decarbonization of North America's transportation sector. Through the increased use of gaseous motor fuels including renewable natural gas and hydrogen, the United States and Canada can achieve ambitious climate goals and greatly improve air quality safely, reliably, and effectively without delay and without compromising existing commercial business operations.
Caution Regarding Forward-Looking Statements and Opinions
The matters described herein contain forward-looking statements and opinions, including, but not limited to, statements relating to outstanding dual fuel conversion quotes for $4.5 million + and our ability to turn these quotes into actual orders. These forward-looking statements and opinions are neither promises nor guarantees but involve risks 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 we may not be able to convert the $4.5 million+ of quotes into actual orders, the fact our dual fuel conversion business has lost money in prior fiscal years and 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 or 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, and the fact that the exercise of stock options and warrants will cause dilution to our shareholders. Readers are cautioned not to place undue reliance on these forward-looking statements and opinions, which speak only as of the date hereof. Except as required by law, 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.
Investor Relations Contact:
Chuck Coppa, CEO/CFO American Power Group Corporation 978-729-9183 [email protected]
