Alternative Fuel Technology Successfully Completes Phase 1 SBIR Report
21 7월 2009 - 10:45PM
Marketwired
Alternative Fuel Technology Inc. (PINKSHEETS: AFTC) is proud to
announce the Company has successfully completed a Phase 1 SBIR
(Small Business Innovation Research) project and has submitted a
draft final report. This project involved accelerated testing and
analysis of a high pressure fuel injection pump running on JP-8 jet
fuel. The Army has a policy to use a single fuel (JP-8) for all of
their "vehicles" and engine powered equipment, including turbine
powered tanks, helicopters, trucks, HUMVEES, generators, etc.
AFTC test results show that the pump suffered high wear in a
short period of time because of the fuel characteristics.
CEO Mr. McAndless states, " The Army is pleased with our work on
this project and has invited us to make a proposal to resolve the
wear problems. This proposal is valued up to $730,000."
AFTC received the following comments from the Army: "I'm writing
about your Phase I Small Business Innovation Research (SBIR)
contract # W56HZV09C0123, awarded 1/20/2009, under the DOD SBIR
Program, Topic # A08-128, Proposal Title: JP-8 Fuel Effects on High
Pressure Common Rail Pumps." The statement from the Army goes on to
state, "Based on our assessment of the progress and potential of
your Phase I work, you hereby are invited to submit a proposal for
consideration of a possible Phase II SBIR award."
According to the Army, "Phase II proposals submitted in response
to this invitation normally involve a performance period of up to
24 months, and are eligible for up to $730,000 in funding." "Your
Phase II proposal will be subjected to a technical review process
similar to the one that was used in selecting and awarding your
Phase I proposal." "Your proposal will be reviewed for overall
merit and evaluated based upon the criteria set forth in Section
4.3 of the DOD Program Solicitation (SBIR Solicitation 2008.2)."
"Selections for Phase II awards are scheduled to be made 60-75 days
after proposal receipt." "We plan to award Phase II contracts no
later than 6 months after proposal receipt."
On July 19 AFTC submitted a detailed proposal to resolve the
wear problem using technology developed for our DME fuel injection
system.
About AFTC:
Alternative Fuel Technology 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 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.
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.
Further information on Alternative Fuel Technologies Inc. is
available at: http://www.altfueltechnology.com/
Contact: InvestSource Inc. Investor Relations 714-847-2460 Email
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