ST. LOUIS , Nov. 18, 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 and technical partnership agreement with Expertises Technologies et Services Produits (ETSP). IFT and ETSP will jointly market IFT's existing technology and jointly develop and market new products utilizing IFT's technologies in Europe, focusing on France, Belgium and Luxembourg.
ETSP is a world-renowned research, testing and marketing company located in Rouen, France with expertise in engine and fuel technology, and the environmental implications of those technologies. ETSP has developed considerable knowledge in fuel and lubricant technologies in niche markets such as bio fuels, racing fuel applications and racing oils. The ETSP Group owns and manages two engineering and testing centers specializing in powertrain development.
In addition to assisting IFT market its existing technologies, ETSP will work with IFT to develop and market certain heating oil and fuel applications for IFT's technology.
Gary Kirk, IFT's Director of Sales and Marketing, said, "We are excited to partner with ETSP. Their expertise in fuel technology and market credibility should expedite our efforts in Europe."
Mr. Jacques Ozanne, ETSP's CEO stated, "We have been evaluating IFT's technology for some time and believe we can provide immediate commercial opportunities to this partnership. We also anticipate developing numerous additional applications utilizing IFT's technology through our joint efforts."
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.