SOURCE: International Fuel Technology Inc.

March 06, 2006 09:25 ET

International Fuel Technology Announces $1,000,000 Purchase Order From Its Asian Distribution Partner

Purchase Order Triggered by Positive Field Trial Results With a Large Electric Utility

ST. LOUIS, MO -- (MARKET WIRE) -- March 6, 2006 -- International Fuel Technology, Inc. (OTC BB: IFUE), a fuel science and research company, today announced that its exclusive distribution partner in Asia, First Asia Fuels Corporation, has placed an order for $1,000,000 of DiesolIFT™ to be distributed into China, Indonesia and the Philippine markets.

The order was triggered by positive field trial results with a government-owned electric utility in Asia. The six-month test measured the fuel economy improvement when DiesolITM™, IFT's proprietary diesel fuel additive, was used to fuel large-scale stationary power generators. The results were in line with IFT's advertised fuel economy improvements for DiesolIFT™ and consistent with previous lab and field trial tests for DiesolIFT™.

Tony Stout, First Asia's Chairman, said, "We expect this government-owned electric utility to announce detailed results of the testing in the near future. We believe that announcement will lead to meaningful purchase orders for DiesolIFT™ from utilities throughout the region. We want to be prepared to satisfy the expected demand for DiesolIFT™."

Ian Hurst, IFT's Technical Development Manager, said, "We are pleased with the results regarding the completed testing at the utility. Once again, our proprietary additive formulation has proven to significantly improve fuel economy in yet another application, stationary power generation. We have also commenced additional testing with the same utility to measure the fuel economy improvement realized when DiesolIFT™ is blended into bunker-type fuel for stationary power generation."

Gary Kirk, IFT's Director of Sales and Marketing, said, "First Asia continues to make meaningful progress in the commercialization of our technology in the Asian territory. The opportunities in China, Indonesia and the Philippines could produce very meaningful revenues for IFT. In addition to the stationary power generation success, First Asia is also in the process of a field trial with one of the largest truck fleets in China."

International Fuel Technology is a fuel science and research company that has developed a family of proprietary fuel additives designed to significantly increase fuel efficiency in internal combustion engines and reduce harmful emissions.

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.

Contact Information

  • Investor Contact:
    Stuart Beath
    Director of Corporate Development
    International Fuel Technology, Inc.
    314-727-3333 x417