IFT Performance Diesel Outperforms Fuel Economy Expectations in First Stage of Atlantic Express Transportation Purchase Program
ST. LOUIS--June 26, 2002--Performance Diesel Achieves Well Over 7 Percent Gains in Fuel Economy
with Local School Bus Fleet; Fuel Program Extended
International Fuel Technology Inc. (OTC BB: IFUE), the developer of a series of fuel blends designed to increase fuel economy and reduce harmful emissions, announces the results of a six-month field trial using IFT Performance Diesel in a school bus fleet located in St. Louis, Missouri, owned and operated by Atlantic Express Transportation Group. Performance Diesel, a blend of No. 2 diesel fuel and an IFT proprietary additive, increased the fuel economy of the school busses in the trial by well over 7 percent. The trial marks the end of stage one in a fuel purchase program involving IFT and Atlantic Express, one of the largest private school bus owner/operators in the country. The Company will move into the second phase of the fuel program, expanding the use of Performance Diesel to additional Atlantic Express fleets.
For three months beginning December 3rd, 2001, IFT personnel worked closely with Atlantic Express to establish a baseline fuel economy for each of the 40 school buses involved in the program. Beginning March 8, 2002, these 40 buses received an appropriate dosage of IFT additive. For each bus, data including miles driven and gallons of fuel consumed were collected daily to determine fuel economy. The results were summarized and presented to Atlantic Express management in St. Louis and New York.
Jonathan R. Burst, President of IFT stated, "We are pleased with the fuel economy gains Atlantic Express is experiencing, and expect additional benefits through the increased lubricity and water elimination properties inherent in the additized fuel. At a cost to Atlantic Express of under $.02 per additized gallon of diesel, we believe Atlantic Express has a profound opportunity to save money on fuel costs and reduce petroleum consumption, while doing something positive for the environment and the children who ride these buses. Performance Diesel has been launched worldwide to address public health concerns associated with smog, and help comply with the requirements set forth in the Kyoto Protocol. By reducing emissions, our additive will effectively improve a refiner's well-to-wheels emissions calculations."
According to a report by the Union of Concerned Scientists, "every year, the nation's fleet of school buses releases 3 thousand tons of soot, 95 thousand tons of smog-forming pollutants, and 11 million tons of greenhouse gas emissions."(1) Nitrogen oxides, a smog-forming emission, has been linked to a variety of health problems, including asthma and other respiratory ailments. Carbon dioxide, a greenhouse gas, is the leading cause of global warming.
Prior to the trial, Performance Diesel was independently tested by Southwest Research Institute, an independent emissions testing facility located in San Antonio, Texas. Test results confirmed that Performance Diesel, when compared to No. 2 diesel, achieved a 7% increase in fuel economy, a 44% increase in lubricity, and a 7% reduction in carbon dioxide (CO2) as well as a 6% reduction in nitrogen oxides (NOx). Details of the test results have subsequently been published by the Society of Automotive Engineers (SAE) and are available to the public by visiting www.sae.org (paper # 2002-01-1702).
Ian Williamson, Chief Technology Officer for IFT commented, "we are not surprised to see the field trial results realizing higher fuel economy gains than those in the lab. The full benefits of using IFT additives are attained when operating an engine in a real-world environment, where the engine is exposed to dirt, water and unclean air. In a controlled laboratory setting, none of these variables come into play."
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. 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.
(1) Patricia Monahan, "Pollution Report Card, Grading America's School Bus Fleets", Union of Concerned Scientists, February 2002.