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About American Power Group Corporation (APGI)
American Power Group Corporation (APGI) is a pioneering company specializing in alternative fuel solutions designed to decarbonize industries reliant on diesel engines. Headquartered in Algona, Iowa, APGI operates through two primary business segments: Dual Fuel Conversion Operations and Natural Gas Liquids Operations. The company leverages its patented dual-fuel conversion technology to provide cost-effective and environmentally sustainable solutions for diesel engines used in stationary and vehicular applications across North America and internationally.
Core Business and Technology
At the heart of APGI's offerings is its innovative dual-fuel conversion system, a hardware and software solution that enables high-horsepower diesel engines to displace up to 65% of diesel fuel with alternative fuels such as compressed natural gas (CNG), liquefied natural gas (LNG), renewable natural gas (RNG), and conditioned well-head gas. This system maintains the original performance, reliability, and operational parameters of diesel engines, making it a practical and affordable alternative for industries looking to reduce emissions and fuel costs.
APGI's technology is compatible with various renewable and biodiesel blends, further enhancing its ability to meet stringent Environmental, Social, and Governance (ESG) objectives. The company's solutions are particularly impactful in sectors such as heavy-duty transportation, oil and gas production, and industrial power generation, where reducing carbon footprints is both a regulatory and operational priority.
Market Position and Competitive Advantages
APGI has established itself as a leader in dual-fuel technology, with over 500 EPA engine family approvals and several CARB Executive Orders for vehicular solutions. Their dual-fuel systems are recognized for their reliability, low total cost of ownership, and ability to integrate seamlessly with existing diesel engines. By offering a transitional technology, APGI addresses the financial and operational barriers that many smaller fleets face when adopting alternative fuels, providing a cost-effective pathway to decarbonization without the need for expensive new equipment.
The company's solutions also align with broader industry trends toward decarbonization, as evidenced by their participation in initiatives like The Transport Project's Better Than Zero Summit. APGI's expertise in emissions testing and regulatory compliance further solidifies its reputation as a trusted partner for fleets and industrial operators.
Environmental Impact and ESG Alignment
APGI's dual-fuel technology significantly reduces methane and other criteria pollutants, helping operators achieve lower carbon intensity (CI) scores. By enabling the use of RNG derived from sources like dairy manure, APGI's solutions can achieve negative carbon footprints, making them a compelling choice for organizations committed to sustainability. Their technology supports multiple fuel sources, offering flexibility and resilience in a rapidly evolving energy landscape.
Challenges and Future Outlook
While APGI faces challenges such as market competition, regulatory dependencies, and the financial constraints of potential customers, its focus on innovation and strategic market positioning provides a strong foundation for growth. As the adoption of alternative fuels continues to accelerate, APGI's role as a transitional technology provider positions it to capture significant market share in the coming years.
Conclusion
American Power Group Corporation is more than just an alternative energy company; it is a catalyst for change in the diesel engine industry. By offering practical, affordable, and proven solutions, APGI enables industries to transition toward a low-carbon future without compromising performance or reliability. Their commitment to innovation, regulatory compliance, and environmental sustainability makes them a key player in the global effort to reduce emissions and combat climate change.
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.
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