Puradyn Receives Initial Order to Supply 750 Systems for Use by U.S. Military
April 09 2014 - 11:40AM
Marketwired
Puradyn Receives Initial Order to Supply 750 Systems for Use by
U.S. Military
Oil Filtration System to Be Installed on Generators Powering
Self-Sustaining Modules
BOYNTON BEACH, FL--(Marketwired - Apr 9, 2014) - Puradyn Filter
Technologies Incorporated (OTCQB: PFTI) has been selected by a
large military contractor and producer of military generators to
provide bypass oil filtration systems for use on generator sets as
part of an award to the contractor by the U.S. Military.
This single contract is projected to provide an estimated 750
units for production beginning in late 2014 and extending over a
three-year fulfillment period with a total contract value of
approximately $300,000. Puradyn will be supplying, through its
local distributor, a next-generation product to enhance oil
filtration capabilities.
Kevin G. Kroger, President and Chief Operating Officer, Puradyn,
said, "We are proud to have been selected by this military
contractor to provide bypass oil filtration systems for their
contract award and to be, once again, the preferred choice when
safe oil drain extensions are required. The new military
specification for sustainment requirement now calls for a minimum
oil drain interval of 750 hours. This requirement also comes
with a stipulation of 'no degradation' with respect to engine
performance or life cycle.
"This award for the Puradyn System is the latest in a line of
small military-based supply orders which began in 2006 when our
systems were installed on trucks, still in use today, supplied by
Freightliner for foreign military sales, and again in 2008, when
our bypass oil filtration systems were mounted on the JERRV line of
MRAP vehicles."
Kroger concluded, "Our technology will help not only to meet the
new requirements for safe extension of oil drain intervals, but
will also help in achieving Military Command's directive to reduce
sustainment material for equipment being used in military
operations. By meeting this directive, we also assist in
reducing logistical issues of handling oil. We are privileged
to do anything we can to support the readiness and mobility of our
troops."
About Puradyn Filter
Technologies Incorporated Puradyn (OTCQB: PFTI) designs,
manufactures and markets the Puradyn Oil Filtration System, the
most effective bypass oil filtration product on the market
today. It continuously cleans lubricating oil and maintains
oil viscosity to safely and significantly extend oil change
intervals and engine life. Effective for internal combustion
engines, transmissions and hydraulic applications, the Company's
patented and proprietary system is a cost-effective and
energy-conscious solution. Puradyn equipment was selected as
the manufacturer used by the US Department of Energy in a
three-year evaluation to research and analyze the performance,
benefits and cost analysis of bypass oil filtration technology.
STATEMENTS IN THIS PRESS RELEASE WHICH ARE NOT HISTORICAL DATA
ARE FORWARD-LOOKING STATEMENTS WHICH INVOLVE KNOWN AND UNKNOWN
RISKS, UNCERTAINTIES OR OTHER FACTORS NOT UNDER THE COMPANY'S
CONTROL, INCLUDING BUT NOT LIMITED TO THE POSSIBLE INABILITY TO
RAISE CAPITAL FUNDS, LACK OF PROTECTION FROM INTELLECTUAL PROPERTY,
VULNERABILITY BECAUSE OF MANUFACTURING A LIMITED NUMBER OF
PRODUCTS, DEPENDENCE ON DISTRIBUTORS, ORDERS PREVIOUSLY STATED IN
THIS PRESS RELEASE MAY NOT MATERIALIZE, AND THE POSSIBILITY THAT
THE PRODUCTS DO NOT MEET CUSTOMERS' NEEDS, WHICH MAY CAUSE ACTUAL
RESULTS, PERFORMANCE OR ACHIEVEMENTS OF THE COMPANY TO BE
MATERIALLY DIFFERENT FROM THE RESULTS, PERFORMANCE OR OTHER
EXPECTATIONS IMPLIED BY THESE FORWARD-LOOKING
STATEMENTS. THESE FACTORS INCLUDE, BUT ARE NOT LIMITED TO,
THOSE DETAILED IN THE COMPANY'S PERIODIC FILINGS WITH THE
SECURITIES AND EXCHANGE COMMISSION.
CONTACT: Puradyn: Kathryn Morris Director, Corporate
Communications (T) 561 547 9499, x 226
investor-relations@puradyn.com http://www.puradyn.com Monarch
Communications: Jeff Siegel President (T) 516 569 4271
jeffs@monarchcomminc.com www.monarchcommunicationsinc.com
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