REDFORD, Mich., Nov. 4, 2010 /PRNewswire/ -- Alternative Fuel
Technology LLC, a wholly owned subsidiary of Alternative Fuel
Technologies, Inc. (Pink Sheets: AFTC), today announced that the
Company was selected for negotiation and possible award of a Phase
II Small Business Innovation Research (SBIR) contract from the U.S.
Army. Phase 2 contract awards are approximately $725,000.
The goal of this proposal, entitled "Ultra High Pressure Jet
Propellant-8 (JP-8) Fuel Injection, will be to demonstrate an
ultra high pressure, multi cylinder intensified fuel injection
system for use with jet propellant (JP-8) fuel. Selection for
the Phase 2 negotiation automatically qualifies the Company for an
option award for $50,000 to continue
work on the Phase 1 project for an additional 4 months.
"JP-8 fuel causes wear and premature failure with most fuel
injection systems," said James
McCandless, Chief Executive Officer of Alternative Fuel
Technologies, Inc. "Using oil powered, intensified injectors
generally eliminates this problem because many of the highly loaded
parts are lubricated with oil instead of JP-8 fuel."
This marks the fourth U.S. Army SBIR contract for which the
Company has been selected for negotiation and possible award. The
Company has previously applied for a total of three SBIR projects
from the U.S. Army and has been awarded contracts for all
three.
The Department of Defense's SBIR program funds early-stage
R&D projects at small technology companies -- projects which
serve a DoD need and have the potential for commercialization in
private sector and/or military markets. The program, funded at
approximately $1.23 billion in FY
2009, is part of a larger ( > $2
billion) federal SBIR program administered by twelve federal
agencies.
As part of its SBIR program, the Department of Defense issues an
SBIR solicitation three times a year, describing its R&D needs
and inviting proposals from small companies -- firms organized for
profit with 500 or fewer employees, including all affiliated firms.
Phase 2 contracts of approximately $725,000 are awarded to further develop a
concept, usually to the prototype stage. Proposals are judged
competitively on the basis of scientific, technical, and commercial
merit.
"We believe that developing specialty fuel injection equipment
for the military can improve the reliability and performance of
military vehicles, and help our military complete missions more
quickly and safely," said McCandless.
About Alternative Fuel Technologies, Inc.
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). The Company has developed
practical, low-cost fuel injection equipment for DME fueled
vehicles and currently provides complete DME fuel systems for
testing and research purposes in addition to retrofit systems that
can be used with most diesel engines. The Company's ultimate goal
is series production of DME fuel systems for the global automotive
market by 2011. For more information, visit:
http://www.altfueltechnology.com
Safe Harbor Statement: Statements contained in this release,
which are not historical facts, including statements about plans
and expectations regarding business areas and opportunities,
acceptance of new or existing businesses, capital resources and
future business or financial results are "forward-looking"
statements. You should not place undue reliance on these
forward-looking statements. Such forward-looking statements are
subject to risks and uncertainties, including, but not limited to,
customer acceptance of our products, our ability to raise capital
to fund our operations, our ability to develop and protect
proprietary technology, government regulation, competition in our
industry, general economic conditions and other risk factors which
could cause actual results to differ materially from those
projected or implied in the forward-looking statements. Although we
believe the expectations reflected in the forward-looking
statements are reasonable, they relate only to events as of the
date on which the statements are made, and our future results,
levels of activity, performance or achievements may not meet these
expectations. We do not intend to update any of the forward-looking
statements after the date of this press release to conform these
statements to actual results or to changes in our expectations,
except as required by law.
CONTACT:
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intellibridgeIR
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949-981-5062
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aftc@intellibridgeir.com
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SOURCE Alternative Fuel Technologies, Inc.