Alternative Fuel Technologies Inc. Hosts Volvo Executives
23 Junho 2009 - 10:45AM
Marketwired
Alternative Fuel Technologies Inc. (PINKSHEETS: AFTC) is pleased to
announce that Volvo Powertrain visited AFTC's offices recently to
see the latest DME developments and to discuss supplying Volvo with
AFTC's new DME high pressure pump for combustion and emissions
development. Volvo already has six (6) DME fuel systems and has
been using AFTC fuel systems in field demonstrations and in
laboratory research since 1995. AFTC has agreed to supply a new
sample for truck testing and Volvo is interested in purchasing at
least one unit for combustion development. If the truck and
combustion prototypes meet their expectations, AFTC could secure a
contract for 14 units plus spares (4-6) for a European Union
sponsored field test beginning in 2010. A video on the EU's
Bio-Fuels (including DME) can be found at
http://www.renew-fuel.com/. This video (which will be on the
company website) contains footage of AFTC's DME fuel system running
in Volvo's lab.
AFTC CEO James C. McCandless states, "The Technology has been
proven and in use since 1995. This contract could earmark AFTC to
become one of the only companies that offers such a unique and well
needed global product as energy markets become cleaner and more
environmentally conscious." Mr. McCandless goes on to say, "As
industry leaders continue to embrace 'greener' fuel alternatives,
AFTC will continue positioning itself as the leader in the
field."
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 Ether (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.
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.
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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