ST. LOUIS, Jan. 18, 2005 (PRIMEZONE) -- International Fuel Technology Inc. (OTCBB:IFUE), a fuel science and research company, today announced that it has signed a commercial partnership and distribution agreement with Puma Energy International S.A. Puma Energy, a subsidiary group of Trafigura Beheer B.V., one of the world's largest independent commodity trading companies, is looking to partner with IFT and incorporate IFT's technology into the petroleum products that Puma Energy distributes. Puma Energy will first complete testing of the products and then look to distribute those products throughout their entire South American, Central American and African distribution channels. Puma Energy's goal in using IFT's technology is to maximize the benefits it can give its customers.
Marcelo Ipina, Puma Energy's Managing Director, stated, "We are committed to bringing high quality, environmentally friendly petroleum products to our customers. We are looking at incorporating IFT's technology into fuels to improve efficiency and therefore reduce CO2 emissions, helping Governments comply with Kyoto Protocol standards."
Claude Moreau, Puma Energy's Commercial Director, added, "We are testing IFT's technology and believe it could enhance the performance of the petroleum products we distribute. The additive technology can be easily blended on a sea going vessel or at the rack creating additized fuel blends that realize better fuel economy and reduced emissions. We expect IFT additized fuel blends will differentiate Puma Energy and increase demand for our products in our respective territories."
Jonathan Burst, IFT's CEO, said, "We are excited to have the opportunity to demonstrate the value of our technology to a number of new geographic markets. Puma Energy has a strong presence in their markets, providing IFT with a great opportunity to realize substantial revenues from sales of our additive products."
Puma Energy International (www.pumaenergy.net), a division of Trafigura Beheer B.V. (www.trafigura.com), distributes petroleum products to wholesale and retail accounts in numerous countries in Africa, Australia, Latin America, Central America, and the Caribbean through its network of storage and distribution facilities.
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.