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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 Corporation (APGI) reported a 32% increase in revenue for fiscal 2022, reaching $3.5 million compared to $2.7 million in 2021. The net income after taxes was $289,000, a turnaround from a $302,000 loss the previous year. Improved gross margins of 48% were attributed to increased sales and reduced amortization costs. The CEO highlighted the ongoing expansion in the oil and gas fracking market and a strong pipeline of $4+ million in conversion quotes. Corporate debt has decreased by $6.7 million over the last two years.
American Power Group Corporation (APG) recently demonstrated its V6000 Low-Carbon Dual Fuel Solution in California, targeting truck fleet owners and regulatory agencies. The dual fuel solution can displace 50-60% of diesel fuel with renewable natural gas (RNG) from dairy manure, resulting in significant carbon emissions reduction. This technology is available for most diesel engines at a conversion cost of about $10,000. APG projects potential fuel savings of $1,500 to $2,250 monthly for operators using this solution, highlighting the feasibility of transitioning to cleaner fuels.
American Power Group Corporation (APGI) reported its unaudited financial results for the three and nine months ending June 30, 2022. The company achieved net revenues of approximately $1.08 million and $2.92 million for these periods, marking a rise from $1.35 million and $1.94 million in the same periods of 2021. The net income was $105,000 and $453,000 respectively, contrasting with a prior net loss. The $2.1 million in follow-on orders and a significant focus on reducing debt helped improve financial stability.
American Power Group Corporation (APGI) announced the conversion of $1.97 million of convertible notes and accrued interest into approximately 7.86 million shares of common stock, following a May 2018 agreement. In the past 18 months, the company has reduced corporate debt by about $6.8 million, including $1.8 million of bank debt and around $5 million of convertible debt. CEO Chuck Coppa emphasized the focus on strengthening the balance sheet. The company’s dual fuel solutions aim to support a low-carbon future, although financial pressures and reliance on third parties pose risks to ongoing operations.
American Power Group Corporation (APGI) is set to showcase its V6000 Dual Fuel Technology for Class 8 diesel trucks at the NSRMCA National Convention from August 7-10, 2022, in Sacramento, California. This technology enables significant fuel savings, offering 25% to 30% net reductions in fuel costs while lowering emissions. With over 500 EPA approvals, the V6000 system aims to help fleet operators in the USPS transport sector enhance sustainability and operational efficiency. APG emphasizes the affordability of this conversion, priced around $10,000 per truck.
American Power Group Corporation (APGI) reported unaudited results for the three and six months ended March 31, 2022. The company achieved net sales of $315,000 and $1.84 million, respectively, marking a 211% year-to-date revenue increase compared to the previous year. The net loss remained consistent at $310,000 for Q2, while a net income of $348,000 was reported for the six-month period. The company has over $5 million in outstanding conversion quotes and a successful $2.46 million share sale to enhance its low-carbon fuel solution initiatives.
American Power Group Corporation (APGI) announced positive results from a month-long test of its V6000 Dual Fuel system by Sapphire Gas Solutions. The test demonstrated a diesel displacement rate of 60%, yielding net fuel savings of 25% to 30%, equating to savings of approximately $1.40 to $1.70 per gallon compared to diesel at $5.30 in Texas. The V6000 system could potentially eliminate between 500 to 610 metric tons of CO2 per vehicle annually. With around 2 million Class 8 diesel trucks in the U.S., the total CO2 reduction potential could reach 1 billion metric tons per year.
American Power Group Corporation (OTC PINK: APGI) has completed a $2.46 million private placement of approximately 98.4 million shares of common stock to existing shareholders, including $2.2 million from entities controlled by the Chairman. CEO Chuck Coppa expressed confidence in shareholder support and plans to use the funds for promoting the V6000 Low-Carbon Dual Fuel solution, which could reduce CO2 emissions significantly. The company aims to convert $4.5+ million in dual fuel conversion quotes into orders despite past financial losses and market risks.
American Power Group (APGI) has expanded its demonstration program for Class 8 heavy haul trucks due to rising diesel prices exceeding $5 per gallon. The program includes a 2014 Freightliner CA125 with a Cummins ISX 15L engine and a 2015 Freightliner CC132 with a Detroit Diesel DD15 engine, both equipped with APG’s patented V6000 Dual Fuel System. This system allows trucks to operate on a mix of diesel and domestic natural gas, providing cost savings and emission reductions. CEO Chuck Coppa emphasized the potential to displace about 19.5 billion gallons of diesel consumption annually.
American Power Group (APGI) reported impressive Q1 Fiscal 2022 unaudited results, showcasing a 552% revenue increase to $1.53 million compared to $0.23 million in the prior year. The company achieved a net income after taxes of $658,000, reversing a $278,000 net loss from the previous year. The growth is attributed mainly to a significant $1.4 million order and efforts in the oil/gas fracking market, with over 240 engine conversions completed. Outstanding conversion quotes exceed $3 million, indicating robust future potential.
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