International Fuel Technology, Inc. Reaches New Milestone: Makes First Bulk Sale of PerfoLiFT™ BD-3, with Value Exceeding $100,000
Revenues from the PerfoLiFT™ BD-Series from Existing Clients and Supply Agreements Are Projected to Exceed $1,300,000 in 2013
ST. LOUIS--(BUSINESS WIRE)-- International Fuel Technology, Inc. (IFT) (OTCBB:IFUE) announced today it made its first bulk sale of PerfoLiFTTM BD-3 (value exceeding $100,000) to a leading European bio-diesel manufacturer. As part of a supply agreement, this one account is expected to generate annual revenues of approximately $1,000,000.
"This purchase order is the result of the successful efforts of one of our distribution partners," said Axel Farhi, IFT's Director of Global Business Development. "Our network of distribution partners continues to be instrumental in generating revenues and sales opportunities for IFT. IFT is now selling PerfoLiFTTM BD-Series products to eight European-based bio-diesel manufacturers. In addition, this technology has been recently introduced to the US and Canadian bio-diesel industries. We expect to generate substantial revenues in North America in 2013 and onward from the sales of PerfoLiFTTM BD-Series grades."
"The PerfoLiFTTM BD-Series alone has provided IFT a clear path to meaningful revenues for 2013," said Stuart Beath, IFT's Chief Financial Officer. "In addition, we recently partnered with one of the largest chemical and additives distribution companies in the world. Their efforts combined with expected new account generation from our existing distribution partners should significantly increase the $1,300,000 in revenues expected from existing PerfoLiFTTM BD-Series accounts in 2013."
The PerfoLiFTTM BD-Series is a group of scientifically engineered liquid fuel additive formulations specifically designed to provide superior short term oxidation stability, long term storage stability, and deposit formation control to bio-diesel and bio-diesel fuel blends of all underlying sources. The superior efficacy of the PerfoLiFTTM BD-Series has been validated at numerous independent test laboratories including BfB Laboratories (Belgium), the National Technology Institute - INT (Brazil), and Montana State University (US).
IFT's PerfoLiFTTM BD-Series products have received the coveted "No Harm" certification from the German-based Association for the Quality Management of Bio-diesel (AGQM) under its "No-Harm and Efficiency" program. This certification is the international standard in the bio-diesel industry due to the demanding requirements necessary to obtain such certification and, in many countries, is necessary before entering the market.
About International Fuel Technology
IFT is a fuel performance enhancement company focused on providing its technology to large, industrial consumers of diesel fuel and bio-diesel fuel blends in the rail, stationary power generation and road transport industries.
IFT has two primary product lines, DiesoLiFTTM 10 and the PerfoLiFTTM BD-Series.
DiesoLiFTTM 10 is IFT's proprietary fuel additive formulation for use with diesel fuel and bio-diesel fuel blends. The product has been scientifically proven to provide a significant improvement in fuel economy and a reduction in harmful emissions. In addition, DiesoLiFTTM 10 increases fuel lubricity, provides detergency benefits and co-solves normal amounts of free water, which collectively reduce maintenance costs for the end user. The product is easy to use, only splash blending is needed, and its use has been proven to have no effect on fuel composition, make-up or standard specification.
The PerfoLiFTTM BD-Series is a series of fuel additive formulations specifically developed to provide superior oxidation stability and deposit formation control to bio-diesel and bio-diesel fuel blends.
Safe Harbor Statement
Some statements contained in this release may be forward-looking within the meaning of the safe harbor clause of the Private Securities Litigation Reform Act of 1995 including, but not limited to, statements as to commercialization of the Company's products and business development activities. 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, the Company's ability to generate revenues and other factors as described in the Company's literature and filings with the Securities and Exchange Commission.
Further information on DiesoLiFTTM and the PerfoLiFTTM BD-Series may be found at IFT's website at: www.internationalfuel.com.
International Fuel Technology, Inc.
Stuart Beath, 314-863-3000 x417
Chief Financial Officer
KEYWORDS: United States North America Missouri
The article International Fuel Technology, Inc. Reaches New Milestone: Makes First Bulk Sale of PerfoLiFT™ BD-3, with Value Exceeding $100,000 originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.