ST. LOUIS, Dec. 7, 2004 (PRIMEZONE) -- International Fuel Technology Inc. (OTCBB:IFUE), the developer of a series of environmental fuel technologies and blends designed to increase fuel economy and reduce harmful emissions, today announced that it has signed a commercial agreement with European Consultants S.A. (ECSA). ECSA will market and distribute IFT's products in Greece, Bulgaria, Serbia and Macedonia.
Gary Kirk, IFT's Director of Sales and Marketing, said, "There's growing interest in the commercialization of our technologies. ECSA fits well with our strategy of outsourcing distribution to experienced companies."
Mr. Stylianos Zavvos, ECSA's President, said, "We are excited to introduce IFT's fuel technologies to our regional clients. IFT's products offer immediate and significant value to petroleum consumption and will reduce environmental and pollution hazards. We have initiated discussions with government utilities, power plants and major shipyard companies in Greece and will replicate these efforts in Macedonia, Serbia and Bulgaria."
ECSA is a privately owned company based in Athens, Greece. ECSA maintains established alliances in the Greek, Balkan and U.S. markets, and develops the necessary framework for the successful completion of projects in these countries.
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.