SAN MARCOS, Calif., Dec. 26, 2007 (PRIME NEWSWIRE) -- Omnitek Engineering, Corp. (Pink Sheets:OMTK) and Omnitek Engineering Thailand Co. Ltd., have entered into a joint venture agreement in Thailand to sell Omnitek's proprietary diesel-to-natural gas engine conversion kits and new natural gas engines used to repower existing diesel trucks and buses. Omnitek reports a 15% interest in the JV.
Omnitek is a global leader in the alternative fuels industry. Omnitek develops and supplies new natural gas engines and a proprietary technology which converts diesel engines to operate on natural gas, propane or hydrogen.
The JV will purchase conversion kits and new natural gas engines from Omnitek and sell them to fleet owners in Thailand. Omnitek will offer training to the fleets to allow them to convert their own diesel engines to natural gas in their own workshop. Werner Funk, CEO of Omnitek, reports, "Previously, the vehicles had to be delivered to conversion workshops to perform the transformation from a diesel engine to a naturals gas engine. As a result of the limited workshops in Thailand, only a small amount of vehicles could be converted every month. Allowing the fleet maintenance garages to perform their own conversions, assisted by technicians from Omnitek Thailand, will greatly accelerate the conversion process." Omnitek estimates that with this arrangement up to 5,000 engines can be converted per year. Mr. Funk continues, "Thailand is an important market for Omnitek. The low-interest rate loans available to the fleet operators to re-power trucks and buses or to convert existing diesel engines to natural gas, opens up a large market for Omnitek's technologies."
Thailand is a dynamic and rapidly expanding natural gas vehicle market. Thailand's leading energy supplier, PTT Public Company Ltd ("PTT"), has been at the forefront of Thailand's NG vehicle programs. PTT is responsible for granting low-interest loans to fleet operators to fund the conversion of diesel engines to natural gas, or to buy engines to repower vehicles.
About Omnitek Engineering, Corp.
Omnitek Engineering, Corp., formed in 2001, develops and sells new natural gas engines and natural gas conversion kits. The Company's advanced engine management systems and diesel-to-natural gas conversion technologies, have established Omnitek as a leader in the industry.
Omnitek offers a total system approach and is dedicated to supplying alternative energy and emissions control solutions that are sustainable, affordable and combat global warming.
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, rising oil prices and the real threat of global warming, make abundantly available and inexpensive natural gas the fuel for the future.