ST. LOUIS--(BUSINESS WIRE)--International Fuel Technology, Inc. (IFT) (OTCQB: IFUE) announced today that with recent additions in the U.K., the Company’s worldwide sales force now numbers 26 people excluding distribution partner sales forces.
“The reach and credibility of our fuel additive technologies continue to grow in the marketplace,” said Jonathan Burst, IFT’s CEO. “We are at a point in our commercial development where we can efficiently capitalize on our growing successes by bringing aboard more sales personnel. More sales personnel dedicated to the sale of our breakthrough fuel performance products will generate more revenues for IFT.”
Of particular significance, the Company’s U.K.-based sales team, Environmental Fuel Technology, Inc. (“EFT”) (www.diesolift.co.uk) has grown considerably since the fourth quarter of 2013. Due to the efforts and industry contacts of EFT sales associates and agents, EFT currently has numerous clients and many other prospects expected to become clients in the first two quarters of 2014.
“DiesoLiFT is the ideal fuel performance solution product in the U.K.,” said Martyn Lodge, EFT’s CEO. “The product increases fuel economy by over 5%, which provides for an even greater value capture in the U.K. given the high price of our fuel, and reduces harmful emissions (greenhouse gases). Protecting the environment and reducing carbon footprints is a critical component to the operating strategy of every commercial user of diesel fuel in the U.K.”
Mr. Lodge continued, “We are calling on most of the large bus, truck and off road fleet operators in the U.K. We are and will continue to be successful selling DiesoLiFT in the U.K.”
Jonathan Burst added, “We are happy to have Martyn and EFT as part of the IFT team. Martyn has assembled a motivated team of industry professionals committed to selling IFT products. Martyn has a long and successful career of developing, managing and motivating sales personnel to achieve at a high level.”
IFT is also excited to announce that Unipart Logistics is now taking an active role in supporting all of IFT’s selling efforts in the U.K. Unipart will provide all logistics (inventory management and storage, shipping, billing, etc.) and post-sale technical and engineering support to all fleets in the U.K. The commitment of Unipart greatly enhances the effectiveness and potential of IFT in the marketplace and eliminates any concern that end users may have regarding post-sales support.
Unipart Group (http://www.unipart.co.uk/) is a multinational logistics, supply chain, manufacturing and consultancy company headquartered in Cowley, Oxfordshire, England. It has operations in Europe, North America, Australia and Japan and works across a variety of sectors that include automotive, rail, marine and leisure. Unipart employs 10,000 people and has annual revenues of approximately $1.7 billion.
About International Fuel Technology
IFT is a fuel performance solutions 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.