ST. LOUIS, Nov. 10, 2004 (PRIMEZONE) -- International Fuel Technology, Inc. (OTCBB:IFUE), the developer of a series of environmental fuel technologies and fuel blends designed to increase fuel economy and reduce harmful emissions, announces that it has signed a distribution agreement with Soliton R&D. Soliton will distribute IFT products in the U.S. and has agreed to an initial purchase of $300,000 worth of IFT products.
Soliton is a New Jersey based research and development and distribution company. The company selectively analyzes third party technologies and their respective marketing potential. Soliton has a number of clients in the trucking, busing and heating oil businesses that are using IFT products on a limited basis. Based on product performance to date, Soliton believes there is a significant market opportunity for the distribution and sale of IFT products.
Kevin Cody, President of Soliton stated, "We have done our homework and are very excited about IFT's technology. Field usage has confirmed what we believed to be true about the efficacy of IFT's products."
Jonathan Burst, IFT's CEO, stated, "We are very pleased to be working with Soliton. We have spent a lot of time with them over the past months and believe they understand the value and commercial opportunities for our technology. Furthermore, this agreement is consistent with our strategy of outsourcing distribution of our products."
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.