International Fuels News
Tuesday January 18, 2005, 9:00 AM Eastern Time
International Fuel Technology Signs Commercial Partnership and Distribution Agreement with Puma Energy International S.A.
ST. LOUIS – January 18, 2005 – International Fuel Technology Inc. (OTC BB: IFUE), a fuel science and research company, today announced that it has signed a commercial partnership and distribution agreement with Puma Energy International S.A. Puma Energy, a subsidiary group of Trafigura Beheer B.V., one of the world’s largest independent commodity trading companies, is looking to partner with IFT and incorporate IFT’s technology into the petroleum products that Puma Energy distributes. Puma Energy will first complete testing of the products and then look to distribute those products throughout their entire South American, Central American and African distribution channels. Puma Energy’s goal in using IFT’s technology is to maximize the benefits it can give its customers.
Marcelo Ipina, Puma Energy’s Managing Director stated, “We are committed to bringing high quality, environmentally friendly petroleum products to our customers. We are looking at incorporating IFT’s technology into fuels to improve efficiency and therefore reduce CO2 emissions, helping Governments comply with Kyoto Protocol standards."
Claude Moreau, Puma Energy’s Commercial Director added, “We are testing IFT’s technology and believe it could enhance the performance of the petroleum products we distribute. The additive technology can be easily blended on a sea going vessel or at the rack creating additized fuel blends that realize better fuel economy and reduced emissions. We expect IFT additized fuel blends will differentiate Puma Energy and increase demand for our products in our respective territories.”
Jonathan Burst, IFT’s CEO said, “We are excited to have the opportunity to demonstrate the value of our technology to a number of new geographic markets. Puma Energy has a strong presence in their markets, providing IFT with a great opportunity to realize substantial revenues from sales of our additive products.”
Puma Energy International (www.pumaenergy.net), a division of Trafigura Beheer B.V. (www.trafigura.com), distributes petroleum products to wholesale and retail accounts in numerous countries in Africa, Australia, Latin America, Central America, and the Caribbean through its network of storage and distribution facilities.
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