LAS VEGAS, Dec. 10, 2009 (GLOBE NEWSWIRE) -- Wednesday was a pretty good day for Alternative Fuel Technologies, Inc. (Pink Sheets:AFTC). In the span of a few hours, the company was able to deliver investors two pretty strong news items that should enhance sentiment toward AFTC and its efforts in the design, development and prototype manufacturing of advanced fuel systems for use with a new alternative fuel -- dimethyl ether (DME). In the broad category of alternative fuels and green energy, news such as that provided by AFTC helps any emerging company to distinguish itself from others in its peer group.
First, Alternative Fuel Technologies reported that it has received an order from Shanghai Diesel Engine Company, a leading manufacturer of diesel engines in the People's Republic of China, for twelve dimethyl ether (DME) fuel feed pumps. This order alone sets the company apart from a broad cast of alternative energy equities that will never see this type of International penetration in their business plan. Now, AFTC will soon have pumps working in Europe, Korea and China.
Shortly after market, AFTC followed up with a potential boon to its corporate fortunes as it announced that its wholly owned subsidiary, Alternative Fuel Technology, LLC, has been competitively selected for negotiation and possible award by the U.S. Army for a Phase 2 SBIR project valued at $730,000. Clearly, if this award does indeed materialize for AFTC the company will enjoy not just the influx of significant capital from the agreement, but it will also be on its way to developing an important relationship with a massive vendor in the U.S. Army as well as earning credibility that it can leverage elsewhere.
For a new alternative fuel and a company on a journey for sustaining traction, Wednesday may well prove to have been a day when it took strong steps toward that objective.
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