International Fuels News
Wednesday February 12, 2007 9:00 AM Eastern Time
International Fuel Technology Enters Into Private Label Agreement
Company Ships DiesoLiFTTM to established european fuel additive distributor
ST. LOUIS, February 12, 2007 - International Fuel Technology, Inc. (IFT) (OTCBB: IFUE) today announced that it had entered into a private label agreement with an established European fuel additive distributor. Under the agreement, the purchaser will take delivery of DiesoLiFT™ and repackage it under its own name for sale to its existing base of fuel additive customers. DiesoLiFT™ is IFT's proprietary diesel fuel additive technology.
As discussed at the Company's annual meeting, IFT is actively engaged in discussions with fuel additive and specialty chemical companies regarding the numerous benefits of IFT technology and how IFT technology can provide solutions to current and evolving needs in the market place. Potential industry distribution partners have expressed an interest in both repacking DiesoLiFT™ as is, and in blending DiesoLiFT™ with existing products to enhance the overall performance of the resulting additive formulation. IFT believes that partnering with established fuel additive concerns with established customers and distribution channels will help expedite commercial penetration of its technology.
Sergio C. Trindade, IFT's Chief of Science and Technology, said, "IFT had a very productive year in 2006. Through a number of very successful lab tests and field trials, we firmly established the multi-functionality of our DiesoLiFT™ technology. DiesoLiFT™ in diesel fuel formulations has proven to be extremely efficient in maximizing combustion processes, improving fuel economy, reducing harmful atmospheric emissions, improving detergency and cleaning, increasing lubricity to such levels required by the continuous reduction of sulfur, enhancing corrosion protection and foam reduction. Essentially non-petroleum based and made from renewable sources, the DiesoLiFT™ technology is biodegradable and has shown a remarkable ability to stabilize bio-diesel blends. The success we achieved in 2006 as it relates to the performance of our technology provided us with the credibility we needed to approach and interest potential industry distribution partners."
Axel Farhi, IFT's Director of Global Business Development, said, "We have been pursuing a two-pronged approach to commercializing our additive technology: direct sales to major end users of diesel fuel; and now sales of our additive technology to industry distribution partners. The agreement we are announcing today is an important commercial step for IFT and demonstrates that our multi-purpose additive technology has credibility and traction with established fuel additive distributors. We expect the above referenced shipment to be the first of many shipments of DiesoLiFT™ to a number of industry distributors in calendar year 2007."
