Altek Signs Distribution Agreement with Washington, DC and Beijing, China Company
7/5/2004 Trading Symbol: APK 12g3-2(b)#82-3219
(Kelowna, BC) Altek Power Corporation (“Altek”) is pleased to announce the signing of a Marketing and Sales Agreement with DP, Inc. of Washington, DC and Beijing, China. DP, Inc. will be the official distributor for Altek power generation equipment for the territories of China, Taiwan and Vietnam.
DP, Inc. specializes in marketing new types of products and technologies to the Asian market and has been heavily involved in bridging the gap between the East and West by opening lines of communication and transferring products and technologies in many different industries such as construction, road building, shipping and lumber.
Altek’s Innovator, a 1.2 MW electrical generating unit comes to DP, Inc and China at a most opportune time in China’s history. Mr. Huang states, “The most recent reports coming from China indicate that twenty-four (24) provinces in mainland China will experience severe electrical shortages this year, an increase of 15.5% from the previous year. In addition to communities, industries throughout China have had their electricity usage curtailed sometimes on a daily basis. These “down times” severely hurt growth and productivity.” A June 2004 Export Development Canada report states that China is the world’s fastest growing large economy creating a massive potential for trade and investment for Canadian businesses.
Mr. Huang says that they were drawn to the Innovator because of its versatility. The Innovator is able to run on both liquid and gaseous fuels and is able to provide 1200 kW of electrical power and approximately 2.8 MW of thermal energy. The thermal energy generated has applications in both heating and air-conditioning. The Combined Heat and Power (CHP) design is optimal for both communities and industry.
The Company’s strategic alliances and their recent purchase of Focus Industrial Contractors Inc. also allow DP, Inc. access to equipment and expertise in the construction of electrical plants from 1MW to 250 MW.
Altek Power Corporation develops timely, profitable and environmentally responsible energy solutions. Altek provides quick-to-market electrical generation plants, which respond to energy needs worldwide. Further information may be found at www.altekpower.com. Our Mission is “to develop timely, profitable and environmentally responsible energy solutions that increase shareholder value.”
Our Mission: To provide timely, profitable and environmentally responsible energy solutions that increase shareholder value.
"On Behalf of the Board of Directors of Altek Power Corporation"
"The TSX Venture Exchange ("TSX.V") has not reviewed and does not accept responsibility for the adequacy or accuracy of this release."
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