NEW YORK, October 4, 2016 /PRNewswire/ --
The energy sector is diverse, especially with the rising popularity of solar and wind, much more companies are diversifying their portfolios. There is good news for traditional energy companies, as last Friday oil prices posted their second straight monthly gain after OPEC
said it would cut production by as much as 750,000 barrels a day starting in November. Greenkraft Inc. (OTCQB: GKIT), SandRidge Energy Inc. (OTC: SDOCQ), Key Energy Services, Inc. (OTC: KEGX), Sauer Energy Inc. (OTCQB: SENY), HyperSolar Inc. (OTCQB: HYSR)
Greenkraft Inc. (OTCQB: GKIT) is a manufacturer and distributor of alternative fuel automotive products. The company's focus is on clean, green, efficient, automotive products that have a price advantage in the American market. Greenkraft offers alternative commercial forward cab trucks, alternative fuel systems and engines.
This August Greenkraft Inc. (GKIT) revealed that their heavy duty sweeper truck is now running on Natural Gas, and will be used in California. This vehicle is unique in that it has steering on both sides of the truck. The truck was fitted with a 60 GGE (Gas Gallon Equivalent) fuel system. The truck was designed by NiteHawk and Greenkraft manufactured the alternative fuel system and installed it on the vehicle.
Greenkraft Inc. (GKIT) announces that the Company has "successfully received health department approval for their design to build Lunch trucks on Greenkraft cab over trucks. GKIT will construct these trucks from the ground up in their facility located in Santa Ana, California. These trucks are unlike any other lunch truck ever made since they run on Propane fuel not only to power the engine, but also to power a stove or oven for the Lunch truck operators to make their food. This revolutionary new innovation will save Lunch truck operators a great deal of money on fuel costs since propane is considerably cheaper than regular gasoline or diesel fuel."
More traditional energy companies like SandRidge Energy Inc. (OTC: SDOCQ) have also been focusing on exploration and production of natural gas. The Company's assets averaged approximately 52,000 barrels of oil equivalent per day 25% oil, 24% NGLs, and 51% natural gas during the second quarter of 2016. SandRidge has been actively developing the Mississippian and adjacent oil and gas reservoirs since 2010, drilling over 1,600 horizontal producing wells in Oklahoma and Kansas. Its current drilling activity is concentrated within its 462,000 acres of focus area leasehold in Oklahoma, 64% of which is held by production.
Key Energy Services, Inc. (OTC: KEGX) provides a range of well services to oil companies, foreign national oil companies, and independent oil and natural gas production companies. This August the company announced entry into plan support agreement for consensual deleveraging and recapitalization transaction, according to which Key's funded Debt to be teduced by $725 million.
Wind generated energy plays an important role in the alternative energy sector. Sauer Energy Inc. (OTCQB: SENY) is a technology company that focuses on the development and marketing of wind power electric generators. The company is the developer of the patented WindCharger vertical axis wind turbine (VAWT) and manufacturer of the WindCutter VAWT. Earlier this year Sauer Energy announced that it has entered into an agreement with ATA Engineering, Inc. (ATA), based in San Diego, California, to conduct third-party analysis to evaluate its WindCutter VAWT for certification.
Finally, solar energy is a crucial segment of alternative energy and the most vibrant. HyperSolar Inc. (OTCQB: HYSR) is developing a solar-powered particle system that mimics photosynthesis to separate hydrogen from water. This July the company announced their research team nearly triples photocurrents in novel solar cell to achieve high efficiency in splitting water molecules for hydrogen production. The company's HyperSolar H2Generator eliminates the need for an electrolyzer.
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