ATG announces significant order for its replacement refrigerant.MONROVIA, Calif.--(BUSINESS WIRE)--March 7, 1996--American Technologies Group (NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :ATEG ATEG Assembly for the Teaching of English Grammar ) (ATG ATG antithymocyte globulin. lymphocyte immune globulin (antithymocyte globulin equine, ATG, ATG equine, LIG) Atgam Pharmacologic class: Immunoglobulin Therapeutic class: Immunosuppressant ) Thursday announced that it has finalized negotiations for the sale of 2 million pounds of non-CFC Refrigerant re·frig·er·ant adj. 1. Cooling or freezing; refrigerating. 2. Reducing fever. n. 1. A substance, such as air, ammonia, water, or carbon dioxide, used to provide cooling either as the working substance of to an energy conservation, refrigeration and facility construction company representing the largest food processing and distribution companies in the United States. ATG has previously announced it had received EPA EPA eicosapentaenoic acid. EPA abbr. eicosapentaenoic acid EPA, n.pr See acid, eicosapentaenoic. EPA, n. approval for its replacement refrigerants (R-411A and R-411B), which are substitutes for the HCFC-based R-22 and CFC-based R-502. The company has been performing extensive demonstrations for potential customers and has successfully exhibited two important aspects of its products: 1) "Drop-In" Replacement -- installation of ATG's Refrigerant requires no changes to seals, oils or compressors; 2) Energy Savings -- four test systems exhibited savings from 20 percent to 38 percent. ATG also announced that they have appointed Greg Smith as division director, Energy & Environmental Services. Smith was formerly with ServiceMaster and Trane Air Conditioning. His duties will include the establishment and operation of ATG's refrigerant replacement sales and the creation of strategic alliances with refrigerant-servicing companies and reclaimers. Smith will report directly to the president. Hugo Pomrehn, president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of ATG and former Undersecretary of Energy, stated, "We are delighted with the demonstration results and the initial order; this one order alone will add in excess of $20 million to revenue in (calendar) 1996. "In addition, our recruitment of Greg Smith, an executive with experience in refrigerants as well as facilities management, is germane to achieving the goals we have established for that division." ATG is an emerging growth company providing environmental solutions worldwide. Its core technologies and products include non-CFC refrigerants, water purification and heavy particle beam developments. These technologies have numerous applications in the nuclear, energy, water, mining and oil & gas industries. CONTACT: American Technologies Group Inc. Jim Nicastro, 818/357-5000 or Global Consulting Group George Garcy, 310/859-9725 |
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