Omnitek Engineering announces strategic investment
Omnitek Engineering announced it has entered into a Securities Purchase Agreement with G.ON Global Investments SRL, with an investment of $640,000 at a price of $0.179 per share and an option to invest an additional $640,000 under the same terms. G.ON Global Investments SRL, a limited liability company organized under the laws of Romania, was established by one of the original founders of G.ON SRL, an Omnitek Engineering customer who engaged Omnitek in 2018 to develop a more than 400 hp 13-liter heavy-duty natural gas engine for Class 8 truck and bus applications. G.ON SRL will assemble the natural gas trucks utilizing the 13-liter engine. Omnitek Engineering will be the exclusive OE supplier of key natural gas engine management system components required for the engine to meet the EURO 6 emissions standard. Omnitek Engineering will have the distribution rights for Euro 6 Class 8 natural gas trucks in select countries, including: The United States of America, Mexico, South America, Israel, The United Arab Emirates and Nigeria.