Alternative Fuel Technologies Inc. Procures Contract With the Korean Institute of Energy Research (KIER)
08 Juli 2009 - 3:53PM
Marketwired
Alternative Fuel Technologies Inc. (PINKSHEETS: AFTC) is pleased to
announce that it expanded its relationship with the Korean
institute of Energy Research (KIER) to supply an order for 4 more
DME feed pumps for delivery in late summer. This brings the total
procured by KIER to 10 pumps purchased.
KIER is interested in adopting AFTC technology of DME 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. In addition, government officials realize
the potentially massive economic benefits associated with
widespread adoption of DME as a fuel source.
The Korea Institute of Energy Research is a Government entity
which focuses on advanced energy Research and Developments projects
with the goal of mass implementation and Commercialization of
efficient, clean energy alternatives
(http://www.kier.re.kr/open_content/eng/main_page.jsp).
AFTC CEO James C. McCandless stated, "We are happy to see that
our existing customers are finding success with our products and
are making additional purchases."
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.
About AFTC:
Alternative Fuel Technology 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 either (DME). AFTC 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.
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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
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subject to risks and uncertainties, including, but not limited to,
customer acceptance of our products, our ability to raise capital
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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.
Further information on Alternative Fuel Technologies Inc. is
available at: http://www.altfueltechnology.com/
CONTACT: InvestSource, Inc. Investor Relations: 714-847-2460
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