Welcome to our dedicated page for American Power news (Ticker: APGI), a resource for investors and traders seeking the latest updates and insights on American Power stock.
American Power Group Corporation (APGI) is a U.S.-based dual fuel diesel engine conversion technology company whose news flow centers on alternative fuels, emissions reduction, and deployment of its patented Dual Fuel systems. Press releases describe APG as the leading U.S.-based provider of dual fuel diesel engine conversion technology, with activity across stationary/off-road power and Class 8 heavy-duty truck markets.
News updates often cover stationary S4000 Dual Fuel projects in oil and gas operations, manufacturing, hospitals, data and blockchain centers, frozen goods warehousing, peak-shaving, public and government buildings, and microgrids. APG has reported milestones such as tens of millions of cumulative run hours for its stationary and off-road installation base and long-running prime power installations at large facilities.
Investors and industry observers can also follow vehicular developments, including the V7000 next generation Dual Fuel System for Class 8 SCR diesel engines, emissions testing efforts with EPA and CARB, and expansion of APG’s 500+ EPA vehicular engine family approvals. Company news frequently discusses the use of renewable natural gas (RNG), compressed natural gas (CNG), liquefied natural gas (LNG), and other natural gas sources to displace diesel fuel while maintaining power and torque.
In addition, APG issues updates on capital raises, shareholder transactions, and financial results, such as private placements with its largest shareholder and revenue trends tied to frack engine conversion orders. Coverage also includes participation in industry conferences, policy events, and discussions on the role of RNG in heavy-duty transportation and potential applications in AI-driven data center power. For those tracking APGI, this news page provides a centralized view of the company’s operational, financial, and strategic announcements.
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.
American Power Group Corporation (APGI) has launched a demonstration program featuring its V6000 Dual Fuel Technology for Class 8 truck operators. This initiative allows drivers to test a 2015 Freightliner Coronado equipped with a patented dual fuel conversion system that blends natural gas with diesel, maintaining engine performance while offering significant fuel savings. This program is part of APGI's commitment to support carbon reduction goals and enhance ESG compliance for fleet operators.
American Power Group Corporation (OTC PINK: APGI) reported preliminary fiscal results for the year ending September 30, 2021. Net sales decreased to approximately $2.68 million, down from $5.47 million in 2020. A significant customer contributed $1.6 million to the sales, with an additional order of $1.4 million placed. The company incurred a net loss of approximately $302,000, contrasting with a net profit of $694,000 in 2020. APGI successfully reduced corporate liabilities by $3.6 million during the fiscal year, focusing on dual fuel solutions.
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