(AFTC.PK) Alternative Fuel Technologies Submits Proposal to US NAVY for 20 Million Dollar SBIR Contract
02 July 2009 - 9:30PM
Marketwired
Alternative Fuel Technologies Inc. (PINKSHEETS: AFTC) today
announced it has submitted a proposal to the US NAVY to develop an
innovative advanced propulsion solution for future combatant craft
with breakthrough technology for multi-fuel engines weighing three
to five times less than conventional diesel engines of the same
horsepower.
The SBIR invitation (Topic Number NO 92-122 - NAVY) project
includes three phases totaling nearly $20,000,000.00 after full
completion of a prototype engine installed on a marine craft. AFTC
expects an answer from the US NAVY in the next 60 to 90 days.
Alternative Fuel Technologies Inc. is a research &
development organization engaged in the design, development and
prototype manufacturing of advanced fuel systems for use with a new
alternative fuel -- dimethyl ether (DME). AFTC has developed
practical, low-cost fuel injection equipment for DME fueled
vehicles.
For more information please visit www.altfueltechnology.com
Other active stocks are General Electric (NYSE: GE), Ford Motor
Company (NYSE: F) and The Dow Chemical Company. (NYSE: DOW).
For entire release, go to
http://finance.yahoo.com/news/Alternative-Fuel-Technologies-iw-1201235007.html?x=0&.v=1
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