Fuel Performance Solutions Posts Record Product Sales in Q2 and for First Half of 2014
$550,000 In Product Sales for Q2; $925,000 for the First Six Months of 2014
$411,500 of Product Orders Already on the Books for Q3 of Which $329,000 to Be Shipped in the First Half of July
ST. LOUIS--(BUSINESS WIRE)--Fuel Performance Solutions, Inc. (FPS) (OTC: IFUE) announced today it will post record product sales for the second quarter of 2014 and for the first six months of 2014 of $550,000 and $925,000, respectively. In addition, the Company has $411,500 of product orders on the books for the third quarter of 2014, of which $329,000 will be shipped in the first half of July.
“We are pleased with our record results”
“We are pleased with our record results,” said Stuart Beath, FPS’s CFO. “The growth in product sales for the first and second quarters of 2014 and the strong start to the third quarter of 2014 signal a growing acceptance in the market to our line of fuel additive products. In addition to ongoing sales and orders from our core products DiesoLiFTTM, PerfoLiFTTM and GasoLiFTTM, we also booked our first order for PerfoClean in July of 2014.”
“Our group of prominent distribution partners continues to drive the growth of our business,” said Jonathan Burst, FPS’s CEO. “Nordmann Rassmann has successfully built a growing stream of business for FPS products over the last two years, and commencing in 2014 we have seen the roll out and ramp up of commercial activity from distribution partners Brenntag Group and Unipart Group. Distribution partner IPU Group commenced the roll out of their commercial efforts on behalf of FPS in the third quarter of 2014. Thanks to their combined commitment and effort, we are seeing: a growing number of new opportunities and customers; increasing orders from existing customers; and a compression of the sales cycle.”
Mr. Burst added, “Our marketing efforts are showing results not only in Europe and the U.K. but also in the U.S. and in Brazil, where our partnership with Brenntag Brazil is kicking off. All of these initiatives are providing commercial opportunities for our family of fuel additive formulations and fueling the growth of our business.”
About Fuel Performance Solutions, Inc.
Fuel Performance Solutions, formerly International Fuel Technology, Inc., is a 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 FPS’s website: www.internationalfuel.com.