Omnitek’s Peru-Based NGV Joint Venture Gains Investor

Pegaco Bus, an operator of transit-bus services in Peru, has acquired a 50% ownership position in Omnitek Engineering Corp.'s Peruvian joint venture, Omnitek Peru SAC, which offers natural gas vehicle (NGV) conversion services. Pegaco has also placed a new order with Omnitek for NGV conversion kits and related components.

‘Peru, with an excellent natural gas infrastructure and a commitment to reducing carbon emissions, continues to represent an important growth market for our company,’ says Werner Funk, president and CEO of Omnitek. Javier Ojeda, general manager of Omnitek Peru, adds that Pegaco's investment will enable the joint venture to tap into liquidity that will help fund further expansion into the Peruvian NGV marketplace.

Omnitek says it is retaining its current 20% ownership position in the joint venture in Peru, which has been in operation since 2009.

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