ST. LOUIS--(BUSINESS WIRE)--
Fuel Performance Solutions, Inc. (FPS) (IFUE) announced today that revenues and current backlog for 2014 have surpassed the $1 million mark. In addition to already booking revenues of $451,000 for 2014, FPS has a current backlog of orders, primarily through its distribution partners, exceeding $600,000.
FPS has developed a number of breakthrough, proprietary liquid fuel additive formulations that enhance the performance of diesel fuel and bio-diesel fuel blends.
“We are pleased with the ramp up of commercial activity in 2014,” said Jonathan Burst, FPS’s CEO. “Based on revenues to date, current backlog and indications of commercial activity from our distribution partners for the remainder of the year, we are on pace to more than double product sales for the third consecutive year.”
“Our distribution partners continue to lead the way commercially,” said Axel Farhi, IFT’s Director of Global Business Development. “Brenntag, Nordmann Rasmann and Unipart Group are all seeing an increase in sales activity, as our proprietary fuel additive formulations are gaining increasing acceptance in the marketplace.”
Mr. Burst added, “In addition to our established partners, we continue to bring new distributors on board. Most recently, we teamed up with U.K.-based IPU Group to market, sell, distribute and provide aftermarket support for our new PerfoClean product. PerfoClean is specifically designed to provide superior cleaning and protection properties for diesel fuel storage tanks.”
Mr. Burst continued, “Our products provide consumers of diesel fuel and bio-diesel fuel blends a complete solution to better performing fuel. Our PerfoClean product cleans central fuel tanks and then subsequent and continued use of our DiesoLiFTTM product maintains fuel system cleanliness and increases fuel efficiency, on average by 5%. These savings are available to anyone who uses diesel fuel: trucking fleets, railways, stationary power generation and marine vessels.”
About Fuel Performance Solutions, Inc.
Fuel Performance Solutions, formerly International Fuel Technology, Inc., is a 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.
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 FPS’s website: www.internationalfuel.com.
Stuart Beath, 314-863-3000 x417
Chief Financial Officer