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Overview
American Power Group Corporation (APG) is a specialized technology company focused on dual fuel conversion and alternative fuel solutions for diesel engines operating in both stationary and heavy-duty vehicle applications. Using its patented hardware and software system, APG provides an innovative retrofit solution that allows existing diesel engines to run on a carefully engineered blend of diesel and natural gas derived fuels, including compressed natural gas (CNG), liquefied natural gas (LNG), and renewable natural gas (RNG). This dual fuel technology not only reduces diesel consumption but also contributes to lower criteria pollutant emissions and improved fuel efficiency, addressing the demand for cost-effective and environmentally conscious energy solutions in today’s market.
Dual Fuel Conversion Technology
At the core of APG's business is its dual fuel conversion technology, a patented system that enhances fuel delivery. This system is designed to seamlessly introduce natural gas into the induction system of a diesel engine without modifying the OEM engine components. Maintaining the integrity of the original engine performance, APG’s technology allows operators to displace a significant portion of diesel fuel with natural gas, which is available in multiple forms. The flexibility to use various natural gas sources, such as RNG, CNG, LNG, or captured flare gas, makes this solution uniquely adaptable across a wide range of engine platforms.
Market Position and Industry Context
American Power Group Corporation has positioned itself within a competitive niche that targets cost-conscious operators looking for an immediate alternative to fully replacing their diesel fleets. The company addresses a critical need in the energy sector by offering a retrofit solution that is both practical and economically viable. With a focus on heavy-duty diesel trucks and stationary generators used in industrial sectors such as oil and gas, APG operates in a space where energy efficiency, operational reliability, and emissions control are highly valued. The dual fuel conversion technology is especially beneficial in sectors with stringent regulatory requirements and increasing pressure to reduce greenhouse gas emissions, making it an important player in the evolution of alternative fuel technologies worldwide.
Operational Excellence and System Reliability
APG’s systems have been rigorously tested in real-world applications, proving their reliability and operational efficiency. The dual fuel conversion systems developed by the company are known for their high up-time and low total cost of ownership. By integrating advanced software calibration with proven hardware designs, the company ensures that its systems deliver consistent performance even in high-demand environments. The technology is engineered to maintain key engine parameters such as temperature and pressure, thereby preserving engine longevity and ensuring that retrofitting does not compromise the safety or performance of the original diesel engine.
Compatibility and Application Versatility
One of the significant advantages of APG’s dual fuel systems is their compatibility with a wide variety of diesel engine platforms, ranging from generators with power ratings spanning from a few hundred kilowatts to multi-megawatt plants, to heavy-duty truck engines in the transportation sector. This cross-platform flexibility has allowed APG to capture a diverse customer base that values the ability to convert their existing assets without incurring the high costs associated with switching to entirely new fleets. The system's compatibility with biodiesel blends and renewable diesel fuels further expands its utility by providing operators with multiple avenues to achieve emissions reductions without sacrificing performance.
Regulatory Compliance and Emissions Reduction
Regulatory approval and environmental compliance are critical factors in the alternative fuel market. APG has successfully navigated these challenges by securing multiple approvals from key regulatory bodies, ensuring that its conversion systems consistently meet stringent environmental standards. The technology contributes to significant reductions in diesel-related criteria pollutants, offering clear benefits to operators aiming to improve their carbon intensity metrics. APG’s approach not only addresses immediate cost savings but also aligns with broader industry trends aimed at reducing the environmental impact of heavy-duty diesel engines.
Innovative Solutions for Heavy-Duty Vehicles
Within the heavy-duty segment, APG offers products specifically designed to cater to the needs of Class 8 trucks and similar high-performance engines. The company’s advanced conversion systems are capable of displacing a substantial portion of diesel fuel with natural gas without compromising power or torque. This innovative approach provides fleet operators with an affordable pathway to transition towards alternative fuels while mitigating the high capital expenditures associated with purchasing new, purpose-built alternative fuel vehicles. Detailed engineering, multiple engine approvals, and specialized telematics integration ensure that fleet managers can accurately track performance and fuel savings in real time.
Natural Gas Liquids Operations
Beyond its dual fuel conversion technology, American Power Group Corporation also focuses on natural gas liquids operations. This segment is dedicated to offering flare capture and recovery services to oil and gas production companies. By capturing and effectively utilizing gas that would otherwise be flared, APG contributes to more efficient energy use and further supports the reduction of greenhouse gas emissions. This dual approach, combining engine conversion technology with gas recovery initiatives, underlines the company’s comprehensive strategy to address various operational challenges in the energy sector.
Comprehensive Industry Integration
American Power Group Corporation has successfully integrated its technology into demanding market segments by emphasizing ease-of-installation, cost-effectiveness, and proven performance. The company works with a network of certified dealers and installers, ensuring that customers receive high-quality service and technical expertise. Its integrated business model supports a sustainable ecosystem in which existing assets are upgraded with minimal disruption, allowing operators to maintain peak performance while achieving better fuel economy and lower emissions. The approach not only enhances operational efficiency but also supports compliance with increasingly strict environmental standards across North America and international markets.
Conclusion
In summary, American Power Group Corporation brings together deep technological innovation and practical engineering to deliver a dual fuel solution that significantly enhances diesel engine performance while reducing operating costs and emissions. By leveraging patented technology and establishing strong industry relationships, the company has carved out a vital role within the alternative fuel market. Its dual approach—covering both fuel conversion and natural gas liquids operations—positions APG as a reliable and versatile provider of retrofit solutions tailored to meet modern energy challenges. Investors and industry analysts can view the company as a knowledgeable and experienced entity capable of addressing the evolving needs of the diesel and alternative fuel sectors with precision and reliability.
American Power Group (APGI) reported unaudited fiscal 2024 results with revenue increasing 286% to $3.36 million, up from $0.87 million in fiscal 2023. The growth was primarily driven by increased market share in dual fuel stationary conversions for frack engines in the oil/gas sector.
The company recorded an unaudited net loss of $1 million for fiscal 2024, improved from a $2.04 million loss in 2023. During fiscal 2024, APGI invested approximately $935,000 in emission testing and development costs to enhance technology and expand EPA/CARB engine family approvals. As of September 30, 2024, the company had $0.41 million in cash, no long-term debt, and $0.90 million in net working capital.
In Q1 fiscal 2025, APGI shipped approximately $1.55 million of stationary conversion orders and is working on over $5 million of outstanding conversion quotes.
American Power Group (OTC PINK:APGI) has announced the conversion of $1.285 million in advances into approximately 36 million unregistered shares of common stock. The conversion price represented a 100% premium over the closing price on the date of closing. APG's CEO/CFO Chuck Coppa highlighted the company's recent achievements, including over $2.2 million in follow-on stationary dual fuel conversion orders, the introduction of the V7000 Dual Fuel conversion solution for heavy-duty trucks, and initiation of EPA/CARB emissions testing.
APG's Chairman Matt Van Steenwyk emphasized the company's disruptive technology, which addresses emission reductions and economic savings. The V7000 system has shown promising results in initial emission testing, particularly regarding NOx reduction, which is significant for addressing CARB Near-Zero Emission Vehicle objectives.
American Power Group (APGI) has unveiled its V7000 next generation dual fuel system for Class 8 heavy-duty SCR diesel engines. This system allows existing diesel trucks to run on up to 60% natural gas, including renewable natural gas (RNG). Key features include:
1. Expanded dual fuel calibration Engine Control Module
2. New telematics capabilities for real-time fuel savings tracking
3. Promising emission reduction results, especially for NOx
4. Focus on newer SCR engine platforms (2020-2022)
5. Cost-effective alternative to purchasing new alternative fuel trucks
APG is currently undergoing EPA/CARB emissions testing to expand its 500+ engine family approvals. The company aims to address CARB Near-Zero Emission Vehicle objectives and provide a practical solution for fleets transitioning to cleaner fuels.
American Power Group (OTC PINK:APGI) has announced $1.4 million in new orders for their S4000 Stationary Dual Fuel Systems, following $800,000 in orders announced on August 6, 2024. This brings the total new orders since August 1st to $2.2 million. The initial $800,000 will ship in September 2024, with most of the $1.4 million follow-on orders expected to ship in December 2024.
APG's S4000 Dual Fuel Technology allows up to 65% diesel fuel displacement with natural gas, providing financial savings and environmental benefits. The system is compatible with various OEM diesel engine platforms and power ratings from 100kW to 12MW. APG's technology is gaining traction among Exploration and Production companies due to its reliability, ease of operation, and ability to help meet ESG goals.
American Power Group (OTC Pink: APGI) announced receiving $2.2 million in follow-on orders since October 1st, with $800,000 to be shipped in the September 4th fiscal quarter. Fiscal 2024 YTD revenue is approximately $2.9 million, over 230% higher than fiscal 2023, driven by stronger dual fuel stationary conversion revenue. APG's S4000 Dual Fuel Technology can displace up to 65% of diesel fuel with natural gas, offering cost savings and emissions reduction. The company has converted over 325 diesel frac engines/pumps to date and reached a 15 million cumulative run hour milestone in May 2023. APG currently has $4 million+ in outstanding customer quotes and is working to convert these into orders.
American Power Group (APG) announced its sponsorship and participation at The Transport Project's Better Than Zero Summit from June 24-26, 2024, in Nashville, TN. APG's CEO/CFO, Chuck Coppa, will participate in a panel on 'Clean Heavy-Duty Vehicle Technologies' on June 25. APG will showcase its V7000 Dual Fuel System, which allows Class 8 diesel trucks to displace up to 60% diesel with natural gas, including renewable natural gas (RNG). This system has been validated to achieve a carbon intensity score of -104 to -145 gCO2e/MJ, potentially avoiding 500-610 metric tons of CO2 annually per vehicle. APG's technology is cost-effective and aims to help fleets transition from diesel to alternative fuels efficiently.