REDFORD, Mich., May 19 /PRNewswire-FirstCall/ -- Alternative Fuel
Technologies, Inc. (Pink Sheets: AFTC) announced today that they
have received an order to supply four DME feed pumps from the Korea
Institute for Energy Research (KIER) for use in the development of
DME fueled light duty (mini) trucks. The pumps have been
manufactured and shipped to Korea.
"KIER is interested in AFTC's DME technology as a replacement
for diesel fuel and views DME as an economic means by which the
country may improve air quality and gain increased energy security
in the future," said James
McCandless, Chief Executive Officer of Alternative Fuel
Technologies, Inc. "In addition, government officials realize the
potentially massive economic benefits associated with widespread
adoption of DME as a fuel source. "
KIER has previously purchased 11 DME feed pumps from AFTC in the
recent past. This new order brings the total to 15 units.
Altogether, the Company has sold about 30 DME feed pumps to
customers in Asia and Europe.
In addition, a large Asian diesel engine manufacturer recently
requested a production quote for 50-100 pumps per month.
About Alternative Fuel Technologies, Inc.
Alternative Fuel Technologies, Inc. is a research &
development organization engaged in the design, development and
prototype manufacturing of advanced fuel systems for use with a new
alternative fuel --dimethyl ether (DME). The Company has developed
practical, low-cost fuel injection equipment for DME fueled
vehicles and currently provides complete DME fuel systems for
testing and research purposes in addition to retrofit systems that
can be used with most diesel engines. The Company's ultimate goal
is series production of DME fuel systems for the global automotive
market by 2011. For more information, visit:
http://www.altfueltechnology.com
About KIER
The Korea Institute of Energy Research is a Government entity
focuses on advanced energy Research and Developments projects with
the goal of mass implementation and commercialization of efficient,
clean energy alternatives. For more information, visit:
http://www.kier.re.kr/open_content/eng/main_page.jsp
About DME
DME is a new ultra-clean diesel fuel replacement that can be
produced from abundant resources. These include natural gas,
landfill methane, coal and biomass. At current oil prices, DME can
be produced and distributed at less than 1/2 the cost of
conventional fuel. When burned in a diesel engine, all soot
emissions are eliminated and NOx emissions are lowered dramatically
without the use of expensive exhaust aftertreatment devices.
Safe Harbor Statement: Statements contained in this release,
which are not historical facts, including statements about plans
and expectations regarding business areas and opportunities,
acceptance of new or existing businesses, capital resources and
future business or financial results are "forward-looking"
statements. You should not place undue reliance on these
forward-looking statements. Such forward-looking statements are
subject to risks and uncertainties, including, but not limited to,
customer acceptance of our products, our ability to raise capital
to fund our operations, our ability to develop and protect
proprietary technology, government regulation, competition in our
industry, general economic conditions and other risk factors which
could cause actual results to differ materially from those
projected or implied in the forward-looking statements. Although we
believe the expectations reflected in the forward-looking
statements are reasonable, they relate only to events as of the
date on which the statements are made, and our future results,
levels of activity, performance or achievements may not meet these
expectations. We do not intend to update any of the forward-looking
statements after the date of this press release to conform these
statements to actual results or to changes in our expectations,
except as required by law.
|
|
CONTACT:
|
|
|
intellibridgeIR
|
|
|
949-981-5062
|
|
|
aftc@intellibridgeir.com
|
|
|
|
|
|
|
SOURCE Alternative Fuel Technologies, Inc.