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OMNITEK ENGINEERING SIGNS LETTER OF INTENT TO FORM STRATEGIC ALLIANCE WITH NATURAL GAS FUELING STATION COMPANY -- Focus on Facilitating Diesel Engine Conversions for Truck Fleets--
SAN MARCOS, CA — October 5, 2011 — Omnitek Engineering Corporation (OTCQB: OMTK) today announced it has signed a letter of intent with San Clemente, CA-based Go Natural Gas to form a strategic alliance to facilitate diesel-to-natural gas truck engine conversions through turnkey programs and services. The company is in the process of negotiating various components of the proposed strategic agreement, including economic considerations, geographic scope and related responsibilities. “The proposed strategic alliance is intended to facilitate heavy-duty diesel truck engine conversions by simplifying the entire process, which will be enhanced by the ability to offer fleet customers the option to locate a fueling station on their property – an important consideration for fleet owners. We look forward to formalizing the strategic alliance and leveraging the expertise of both organizations,” said Werner Funk, president and chief executive officer of Omnitek Engineering Corporation. “Entering into a strategic alliance with Omnitek will greatly benefit our common customers. Go Natural Gas will have the advantage of consulting with Omnitek and determining which conversion centers and vehicle models offer the greatest volume potential before deciding on a specific fueling station location or design. Likewise, Omnitek will benefit by being able to offer a turnkey solution and preferred fueling contract to its customers,” said Timothy Nelligan, chief executive officer of Go Natural Gas, Inc. Funk added that compressed natural gas provides significant advantages over diesel fuel, including reduced emissions, plentiful supplies and favorable economics. “Industry observers believe that up to eight million heavy-duty vehicles in the U.S. could benefit from conversion to natural gas. Replacing old diesel trucks with new natural gas-powered trucks is certainly an option, but it is much more expensive. Our technology is feasible and affordable, with a projected return on investment of less than two years. In addition, diesel engines have a service life of up to 20 years, which provides an additional incentive to convert,” Funk said.
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