International Fuels News
Tuesday March 14, 2006 9:00 AM Eastern Time
International Fuel Technology Announces the Appointment of Supreme Fuel Technologies Pty Ltd. as Exclusive Distributor for Australia
Supreme Fuel Technologies Pty Ltd. Makes Initial Purchase Order for 17,000 liters of DiesolIFT™
ST. LOUIS – March 14, 2006 – International Fuel Technology, Inc. (IFT) (OTC BB: IFUE), a fuel science and research company, today announced that Supreme Fuel Technologies Pty Ltd (SFT) has been appointed as the exclusive distributor of IFT fuel additives in Australia. SFT is a wholly owned subsidiary of Fuel Technologies Ltd (FTL), one of IFT’s primary distribution partners.
SFT has arranged to conduct field trials with five of Australia’s largest industrial companies, all significant users of diesel fuel. SFT has initially purchased 17,000 liters of DiesolIFT™, IFT's proprietary diesel fuel additive. The trials will focus on the fuel economy improvement realized by introducing DiesolIFT™ into diesel fuel in the ratio of 1:600 as well as the ancillary benefits such as a reduction of CO emissions, less black smoke, better lubricated engines and increased fleet productivity.
“High fuel and oil prices have made leading Australian companies very receptive to the benefits promised by usage of DiesolIFT™ to reduce consumption of diesel fuel and prolong engine life through better lubrication," said Jonathan Burst, IFT’s CEO. "Based on independent test data, field trial data and the progress IFT has made in the commercialization process, we are convinced DiesolIFT™ can bring tremendous value to users of diesel fuel in Australia."
Dion Friedland, Chairman of FTL, added, "The economic benefits through fuel economy improvement and emission reductions are quantifiable and substantial. The field trials we have arranged are with five very significant industrial companies that all consume large quantities of diesel fuel. If their field trials with DiesolIFT™ generate results similar to those seen in other trials and independent testing, we expect to develop a large customer base in Australia and these industrial companies to become users of DiesolIFT™."
SFT’s initial purchase of 17,000 liters of DiesolIFT™ will arrive in Melbourne later this month. Sergio Trindade, IFT’s Chief of Science and Technology, will arrive in Australia before month-end to meet with the five companies in order to plan their test protocols. Trindade was Assistant Secretary-General, United Nations, New York, for Science and Technology Development in 1986-91. He has a PhD, a ChE and an MSc from the Massachusetts Institute of Technology in chemical engineering and is acknowledged as a world authority on energy matters."
"The introduction of DiesolIFT™ into the Australian market should result in significant benefits for large users of diesel fuel while at the same time reducing CO2 emissions," Trindade said.
Robert Miller, SFT’s director in Australia added, “We are excited about the commercial opportunities for DiesolIFT™ in Australia being a market where large quantities of diesel are consumed because of distances involved.”
Burst added, “The expansion of our international distribution network into all five continents is very encouraging. As our technology continues to generate a lot of interest in new markets, we want to be in a position to capitalize in a timely manner on viable commercial opportunities while at the same time reducing the impact of high fuel costs.”
SFT joins IFT’s other distributors in Asia (First Asia Fuel Corporation), Africa (Fuel Technologies Ltd), South and Central America (Trafigura/Puma), the United Kingdom (Kyoto Fuel Technologies Ltd), the Middle East (Petrochem) and Europe (Fuel Technologies Ltd and in selected countries Expertises Technologies et Services and European Consultants) in assisting IFT in reducing fuel consumption and CO2 emissions worldwide.
NOTE: Statements contained in this web site that are not strictly historical are forward-looking within the meaning of the safe harbor clause of the Private Securities Litigation Reform Act of 1995. Editors and investors are cautioned that such forward-looking statements involve risks and uncertainties that may cause the Company’s actual results to differ materially from such forward-looking statements. These risks and uncertainties include, but are not limited to, demand for the Company’s product both domestically and abroad, the Company’s ability to continue to develop its market, general economic conditions and other factors that may be more fully described in the Company’s literature and any periodic filing with the Securities and Exchange Commission.
