IFT Records Revenues of $235,000 From Recent Sale of Products Via Distribution Partner Nordmann Rassmann
$1 Million Annual Sales Via Nordmann Anticipated
Sales Represent Changing Face of IFT
ST. LOUIS--(BUSINESS WIRE)--International Fuel Technology, Inc. (IFT) (OTCQB: IFUE) announced today that it has recorded Q1 2014 revenues of $235,000 from the recent sales of IFT products by distribution partner Nordmann Rassmann (“NRC”).
“more accurately reflect and communicate to the public the current and future nature of the Company’s business operations.”
“NRC has built a growing business marketing and selling IFT products in Europe that should reach the $1,000,000 level in 2014,” said Axel Farhi, IFT’s Director of Global Business Development. “They are selling IFT products to some of the major multinational companies operating in the diesel and bio-diesel business.”
“Our business model of partnering with prominent distribution companies is coming together,” said Jonathan Burst, IFT’s CEO. “Our distribution partners have brought credibility and education about our products to the marketplace. Our superior performing products are providing fuel performance solutions to a growing number of clients that will result in continued revenue growth for IFT.”
Recently, IFT began the process of changing its name to Fuel Performance Solutions, Inc. to “more accurately reflect and communicate to the public the current and future nature of the Company’s business operations.” Mr. Burst explained, “Now that our focus has moved beyond basic research and we are dynamically commercializing our technology, the name change is appropriate. The face of IFT is changing, and through distributors like NRC, we will build a business much larger than before. If NRC achieves what it believes it can achieve in sales for this year, we will surpass our previous revenue records, and NRC is but one of our distributors.”
About Nordmann Rassmann
NRC (www.nrc.de) is a leading international distributor of specialty chemicals, lubricants and fuel additives. NRC sells its portfolio of high quality products throughout Germany, Austria, Central and Eastern Europe, Scandinavia and Switzerland. NRC, founded in 1912, has annual revenues of $450 million.
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.
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.