International Fuel Technology
Inc. receives purchase order
from Petrobras to supply
perfolift BD-4
ST. LOUIS - International Fuel Technology, Inc. (IFT) (OTCBB: IFUE) announced that it had received a purchase order from Petrobras to supply PerfoLiFT BD-4 to Petrobras for use in its three wholly-owned bio-diesel manufacturing plants in Brazil, which collectively produce over 150 million liters of bio-diesel per year.
“It has taken IFT time, resolve and positive testing to get to this point with Petrobras,” said Dr. Sergio C. Trindade, IFT’s Director of Science and Technology and Nobel Co-Laureate. “We are confident that our additive will continue to perform on a superior level, as it has in past testing with Petrobras. IFT believes it is in a position to supply Petrobras with most, if not all, of its additive needs for their entire bio-diesel production.”
PerfoLiFT BD-4 is part of the PerfoLiFT BD-Series of proprietary IFT fuel additive formulations which provide superior oxidation stability and deposit formation control in bio-diesel fuel blends. Both IFT and its distribution partner in Brazil, Next Group Brazil are on Petrobras’ Registered Vendor list.
Jose Pimentel, President of Next Group Brazil, added, “Persistence, hard work and a great product have put Next Group Brazil and IFT in an enviable position. We expect to eventually sign a multi-year contract with Petrobras to serve as the primary supplier of fuel additives for their entire bio-diesel manufacturing operation going forward.”
Petrobras, a public company whose majority stockholder is the Government of Brazil, is the third largest energy company in the world with operations that include: exploration and production, refining, oil and natural gas trade and transportation, petrochemicals, derivatives, electric energy, bio-fuel and other renewable energy source distribution.
Due to government mandate, IFT believes that Petrobras will implement the use of bio-diesel blended with diesel on a larger volume scale as they have implemented ethanol blended with gasoline. Currently, ethanol represents over 50% of every liter of gasoline consumed in Brazil. Currently, bio-diesel only represents approximately 5% of every liter of diesel fuel consumed in Brazil, but there are plans to expand the blend content. The projected growth of the bio-diesel market in Brazil is huge, and IFT expects to play a major role with its unique PerfoLiFT BD-Series additive formulations.
Copyright © 2011 International Fuel Technology.
