American Power Group Closes $650,000 Private Placement with Its Largest Shareholder

Rhea-AI Summary

American Power Group (OTC Pink: APGI) announced on January 5, 2026 that approximately $650,000 of advances from an existing shareholder associated with chairman Matt Van Steenwyk were converted into roughly 108 million unregistered common shares.

The company said the purchase occurred at above-market prices and described an increase in stationary quotes to $5 million+ and plans to target newer SCR engine platforms (2020–2023) beginning with the Cummins X15.

The release highlights APG's dual fuel conversion technology that displaces up to 65% diesel with natural gas and notes forward-looking risks including possible need for additional financing and EPA approvals.

AI-generated analysis. Not financial advice.

Positive

• $650,000 advances converted into common stock
• Company reports $5M+ in stationary conversion quotes
• Technology can displace up to 65% diesel with natural gas
• Focus on Cummins X15 platform for 2020–2023 engines

Negative

• Issuance of ~108 million unregistered shares may dilute holders
• Company disclosed it has lost money in prior fiscal years
• Forward-looking EPA approvals required for vehicular applications
• Company may require additional financing to grow operations

News Market Reaction – APGI

-1.67%

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-1.67% News Effect

On the day this news was published, APGI declined 1.67%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

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ALGONA, IA / ACCESS Newswire / January 5, 2026 / American Power Group Corporation ("APG") (OTC Pink:APGI) the leading U.S. based dual fuel diesel engine conversion technology company is pleased to announce the conversion of approximately $650,000 of advances made over the past 6 months by an existing shareholder associated with its Chairman, Matt Van Steenwyk. The advances were converted into approximately 108 million unregistered shares of common stock.

Chuck Coppa, APG's CEO/CFO stated, "Given current market conditions in the alternative energy space, access to growth capital for small companies has been challenging so we are extremely pleased that our largest shareholder continues to show support and confidence with this latest purchase of common stock, especially at above market prices."

Mr. Coppa added, "As we enter fiscal 2026, we remain optimistic as we have seen an increase in our stationary quotes to over $5 million and are anticipating our vehicular efforts during fiscal 2025 to update our EPA engine family approvals to include newer engine years will gain traction. We are focusing on newer SCR engine platforms in the 2020 to 2023 range starting with Cummins X15 engine platform given it allows for broader market/application coverage."

Matt Van Steenwyk, APG's Chairman noted, "As a technology investor, I am always looking for a situation where a company has an extraordinarily disruptive technology that can address multiple market drivers. In APG's case, that is significant emission reductions as well as meaningful economic savings and a low cost of entry. APG's technology is the only cost-effective solution for existing diesel engines that can optimize use of multiple low carbon fuels such as RNG, renewable diesel and biodiesel blends that provide a pathway for dramatic carbon reduction, even turning the results negative."

About American Power Group Corporation (www.americanpowergroupinc.com)

American Power Group's subsidiary, American Power Group Inc., ("APG"), provides cost-effective alternative fueling solutions for diesel engines to significantly reduce methane criteria pollutants and help accelerate a low-carbon future. APG's Dual Fuel conversion technology is a unique patented hardware and software solution that enables high-horsepower diesel engines to safely displace up to 65% of diesel fuel with natural gas. Engines equipped with APG's Dual Fuel technology can use renewable natural gas (RNG), compressed natural gas (CNG), liquefied natural gas (LNG), captured flare-stack methane and conditioned well-head gas resulting in lower cost, lower carbon, and lower criteria pollutant emissions. Additionally, APG's Dual Fuel conversion technology remains fully compatible with eligible biodiesel blends and renewable diesel fuels further reducing a diesel engine's carbon footprint and provide users with a proven regulatory compliant technology.

Caution Regarding Forward-Looking Statements and Opinions

The matters described herein contain forward-looking statements and opinions, including, but not limited to, statements relating to outstanding dual fuel conversion quotes for $5 million + and our ability to turn these quotes into actual orders. These forward-looking statements and opinions are neither promises nor guarantees but involve risks and uncertainties that may individually or mutually impact the matters herein, and cause actual results, events, and performance to differ materially from such forward-looking statements and opinions. These risk factors include, but are not limited to, the fact that we may not be able to convert the $5 million+ of quotes into actual orders, the fact our dual fuel conversion business has lost money in prior fiscal years and the risk that we may require additional financing to grow our business, the fact that we rely on third parties to manufacture, distribute and install our products, we may encounter difficulties or delays in developing or introducing new products and keeping them on the market, we may encounter lack of product demand and market acceptance for current and future products, we may encounter adverse events or economic conditions, we operate in a competitive market and may experience pricing and other competitive pressures, we are dependent on governmental regulations with respect to emissions, including whether EPA approval will be obtained for future products and additional applications, the risk that we may not be able to protect our intellectual property rights, factors affecting the Company's future income and resulting ability to utilize its NOLs, the fact that our stock is thinly traded and our stock price may be volatile, and the fact that the exercise of stock options and warrants will cause dilution to our shareholders. Readers are cautioned not to place undue reliance on these forward-looking statements and opinions, which speak only as of the date hereof. Except as required by law, the Company undertakes no obligation to release publicly the result of any revisions to these forward-looking statements and opinions that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Investor Relations Contact:

Chuck Coppa, CEO/CFO
American Power Group Corporation
978-729-9183
ccoppa@apgdualfuel.com

SOURCE: American Power Group Corporation

View the original press release on ACCESS Newswire

FAQ

What did American Power Group (APGI) announce on January 5, 2026?

APG announced conversion of approximately $650,000 of advances into about 108 million unregistered common shares by a shareholder associated with the chairman.

How many shares did APG issue in the January 5, 2026 private placement?

The company reported conversion into approximately 108 million unregistered common shares.

What immediate shareholder impact does APG's $650,000 conversion have for APGI?

The conversion increases outstanding unregistered shares and may result in dilution for existing holders.

What commercial pipeline figures did APG report with the January 5, 2026 release?

APG said it has over $5 million in stationary dual fuel conversion quotes.

Which engine platform is APG prioritizing for 2026 vehicle approvals?

APG is focusing on newer SCR platforms, starting with the Cummins X15 (2020–2023).

Does APG identify any risks related to its growth plans in the January 5, 2026 release?

Yes; the company warned it may need additional financing, has lost money previously, and requires EPA approvals for future products.