American Power Group Corporation (OTCMKTS:APGI) and Aemetis, Inc, a renewable fuels company, on October 3, 2022, that it had demonstrated APG’s V6000 Low-Carbon Dual Fuel Solution in the previous week in California to several truck fleet owners and operators transporting different products for Aemetis and other businesses.
Furthermore, the group presented to policymakers and different regulatory agencies in Sacramento. APG’s 2014 Freightliner CA125 Cascadia day cab equipped with a Cummins ISX 15L diesel engine will be available for demo at Aemetis’s Keyes. There are about 420,000 Class 8 trucks registered in California and hence the potential annual reduction can be in millions of metric tons on complete adoption.
Matt Van Steenwyk, APG’s Chairman said that the company firmly believes in the ability to harness renewable natural gas as well as renewable diesel. The Chairman added that it is a cost-effective carbon reduction solution available for all fleets. He added that APG’s V6000 dual fuel solution will displace 50-60% of diesel consumption, avoiding at least 500 to 610 metric tons of CO2 per year per vehicle.
Chuck Coppa, APG’s CEO/CFO said that the firm’s dual fuel solution is available for virtually any diesel engine with a heavy-duty truck conversion cost of about $10,000. Coppa added that an operator consuming 1500 gallons of diesel monthly can generate net fuel savings of $1,500 to $2,250.
Eric McAfee, Aemetis’s Chairman, and CEO said that the firm envisions APG’s Dual Fuel Solution running Aemetis’s RNG. The CEO added that it can be a vital step in California’s evolution to cleaner air.
Technical Data
APGI stock is trading below the 20-Day and 50-Day Moving averages of $0.0188 and $0.0234 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0254.
