NEW YORK, February 17, 2011 /PRNewswire via COMTEX/ -- Energtek Inc., a leader in hi-tech natural gas solutions and Adsorbed Natural Gas (ANG) technology, announced today that Col. (Ret.) Haim Aviv was nominated as CEO of the recently incorporated subsidiary Energstore Solutions Ltd. Col. (Ret.) Haim Aviv holds a BSc and an MSc. in Industrial Engineering and Management. He has a long standing experience in managing multidisciplinary large-scale projects - during the last years he managed a large scale Homeland Security project performed by a big corporation, having managed during his service in the army several massive projects.
Energstore was incorporated to provide peak storage solutions for energy utilities, transmission networks and other large suppliers and consumers of natural gas. Energstore expects in the forthcoming future to start working for providing customized solutions to the emerging natural gas based energy market of Israel. Such solutions will leverage on technologies developed by Energtek, but not implemented until now for these markets, thus significantly widening the areas of application of the technologies of Energtek.
Energstore is held fifty percent by RBCI Ltd., which has committed to provide financing of up to $2,500,000 as previously published this week, and fifty percent by Energtek's subsidiary Energtek N.G.S. Ltd,.
"Col. (Ret.) Aviv will be able to crystallize the potential of Energstore Solutions Ltd. and successfully implement the projects to be carried out by it. He has the traits required for making Energstore a big success" said Eliezer Sandberg (director at Energstore Solutions Ltd, Energtek's Chairman, and former Israeli Minister of Infrastructures). "We are very pleased that he accepted the nomination as CEO of Energstore and is willing to lead this enterprise"
Energtek develops and applies innovative low-pressure mobile transportation solutions for industrial consumers and fleets of small vehicles. The company is also involved on oil and gas exploration in Israel. Energtek operates subsidiaries in North America, Europe, Asia and the Middle East. To learn more about Energtek, visit http://www.energtek.com
This release contains forward-looking statements within the meaning of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of Energtek and its technologies. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and other matters set in Energtek's filings. These risks and uncertainties could cause actual results to differ materially from those indicated in the forward-looking statements.