SAN MARCOS, Calif., Nov. 18, 2008 (GLOBE NEWSWIRE) -- Omnitek Engineering, Corp. (Other OTC:OMTK) today reports that shareholders can experience Omnitek's 2008 Annual Meeting of Shareholders held November 15, 2008 via audiocast. The audio portion of the annual meeting can be accessed by downloading the audio file from the Omnitek website at www.omnitekcorp.com/investors
Omnitek's CEO, Werner Funk, reports, "I like to express my thanks to participating shareholders for their attendance and I like to thank all shareholders for their trust and continued support. We are entering exciting times for our industry and it is great to have a person like T. Boone Pickens making a case for natural gas. We are hopeful that in years to come we will have played a big part in reducing our dependence on foreign oil."
Updates to shareholders highlights:
* Omnitek participated in 3 trade shows since the 2007 Annual Meeting, which helped in educating fleet owners and other customers about our technology. * We introduced our new Engine Management System, which was an instant success. * We set up additional distributors in Egypt, Thailand and Malaysia. * We moved from the PinkSheets to the OTCQX, which is considered the Prime Trading Platform. This was achieved with the help from Merriman Curhan Ford, which serves as the Designated Adviser for Disclosure. Trading on the Prime QX gives our company added credibility from the extra Disclosures and Filings that are available to investors. * In 2008, Omnitek has moved into a market-leading position. Our technology is now clearly accepted by the industry and sales are showing a steep upward trend. * We recorded record sales for the Q1, Q2 and Q3, and the 4th Quarter is also shaping up to be a big improvement over the same Quarter in 2007. * The current state of the market has not affected the Company significantly at this point, but we are watching the situation closely. * Over the next few months, we will try to enter new markets and expand our global reach. * We will also expand our product offering and available applications. * We also plan to make a push to enter the US market and are already in advanced talks with certain engine manufacturers. * Early indications show that the EPA might be ready to ease regulations on natural gas conversions in the USA, and when this happens, we will be ready. We are watching the forthcoming new EPA rulings with great interest. * The Company's proprietary diesel-to-natural gas conversion system has now been successfully applied in over 12 countries and is the leading system worldwide for this application.
About Omnitek Engineering, Corp. (Other OTC:OMTK)
Omnitek Engineering, Corp. develops and sells new natural gas engines, as well as a proprietary diesel-to-natural gas conversion system, which has established Omnitek as a leader in the industry.
As energy costs increase and the threats of global warming and air pollution remain, the search for an alternative fuel becomes increasingly important. Natural gas has emerged as a perfect solution to these challenges. Readily available in many countries from indigenous sources, natural gas is inexpensive and clean burning.
Diesel engines have been the backbone of the transportation industry. Valued for their power, fuel economy and durability, diesel powered trucks and buses are used worldwide, however, they are heavy polluters and significantly contribute to global warming. Omnitek has developed a system to convert existing diesel engines to clean-burning natural gas at a fraction of the cost of a new engine.
Omnitek estimates the population of heavy-duty diesel vehicles and stationary engines around the world which can be converted using the Omnitek Diesel-to-Natural Gas Conversion System and offer the best ROI approaching ten million engines.
Prevailing economic factors, energy costs and the real threat of global warming make abundantly available and inexpensive natural gas the fuel for the future.
Forward-Looking Statements
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.