ST. LOUIS--(BUSINESS WIRE)--
International Fuel Technology, Inc. (IFT) (IFUE) announced today that worldwide sales of its proprietary fuel additive products surpassed $700,000 for the calendar year 2013. This is a record for any year in the Company’s history and more than double product sales in 2012.
Aided by the efforts of its worldwide distribution partners, both the number of customers and the average order size are growing, setting the stage for substantial sales gains again in 2014.
“A growing number of preeminent bio-diesel manufacturers in Europe and South America already are using (and re-ordering) our PerfoLiFT BD-Series of bio-diesel stabilization additives,” said Axel Farhi, IFT’s Director of Global Business Development. “In addition, a number of large, well-known companies in the U.S. and Europe are scheduled to complete their validation testing of our DiesoLiFTTM product range by mid-year. We are optimistic that new orders will be forthcoming, some having the potential to dramatically alter the Company’s profile.”
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.
Stuart Beath, 314-863-3000, x417
Chief Financial Officer