International Fuel Technology Inc.
International Fuel Technology Looks to the Stars
Corporate-news announcement sent by DGAP.
The sender is solely responsible for the contents of this announcement.
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International Fuel Technology Looks to the Stars
as the First Major Sponsor of the X PRIZE CUP
The next step of the ANSARI X PRIZE includes annual competitions in New Mexico
ST. LOUIS – (PRIMEZONE) -October 4, 2004 – The X PRIZE Foundation and
International Fuel Technology Inc. (“IFT”) (OTC BB: IFUE – news) have
announced that IFT has signed a multi-year sponsorship agreement to be a
“Major Sponsor” of the X PRIZE CUP — the continuation of the $10 Million
ANSARI X PRIZE challenge.
The X PRIZE CUP is designed to combine elements of Champ Car Grand Prix Racing
and the America’s Cup where the average person can attend and watch the next
generation of space vehicles fly, talk to the astronauts, see the vehicles up
close and learn about new technologies. The annual X PRIZE CUP will be based in
Las Cruces, New Mexico.
“Over the last several weeks, companies have approached the X PRIZE Foundation
for sponsorship opportunities because they understand the value of what the X
PRIZE CUP represents and that space related races and challenges are a growing
spectator sport. Today, I am pleased to announce that IFT has signed on as our
first Major Sponsor for the next chapter of the X PRIZE Foundation,” said Dr.
Peter H. Diamandis, Chairman and President of the X PRIZE Foundation,
“Visionary leaders like Jon Burst and IFT will play a major role in the
success of the X PRIZE CUP and we look forward to working with Jon and the
entire IFT team for many years.”
“We are proud to be associated with The X PRIZE CUP and are inspired to work
with participating X PRIZE Cup teams from all over the globe,” said Jonathan
Burst, Chairman and CEO, IFT. “We see parallels between the X PRIZE and IFT in
the development, implementation and commercialization of technologies that are
both cutting edge and beneficial to mankind.”
About the X PRIZE CUP:
The X PRIZE CUP is the next chapter in the mission for The X PRIZE Foundation
a 501(3)c not-for-profit educational organization with headquarters in
St. Louis, Missouri. Supported by private donations and the St. Louis
community, the Foundation’s mission is to create educational programming for
students and space enthusiasts as well as provide incentives in the private
sector to make space travel frequent and affordable for the general public. To
learn more about the X PRIZE CUP, please visit http://www.xpcup.com . To find
out how individuals, educational organizations or corporations can join the
efforts of the X PRIZE Foundation, please visit http://www.xprize.org or
contact the office at 636-519-9449.
-more-
About International Fuel Technologies (http://www.internationalfuel.com)
IFT is a St. Louis, Missouri-based publicly traded company that has developed
a series of proprietary fuel blends and fuel additives designed to improve the
operating efficiency of gasoline and diesel engines, resulting in specific
benefits including improved fuel economy, greater lubricity, reduced
maintenance costs, and lower harmful emissions. The Company is pursuing the
distribution of its proprietary fuel blends, including the IFT synthetic
diesel fuel, which meets the stringent standards of the California Air
Resources Board (CARB), and may also be designated as an alternative fuel
under EPAct.
About the ANSARI X PRIZE Competition
Currently, 26 teams from around the globe are competing for the $10 million
ANSARI X PRIZE. In order to win the competition, teams must build a safe and
reusable space vehicle able to carry one pilot and the weight equivalent of
two passengers, 100km (62 miles) into suborbital space. The vehicle must be
privately financed and safely flown twice within a two-week period. The first
registered ANSARI X PRIZE team to complete this feat will win the $10 million
prize and a spectacular 5-foot trophy.
About the X PRIZE Foundation (http://www.xprize.org)
The X PRIZE Foundation is a not-for-profit educational organization with
headquarters in St. Louis, Missouri. The Foundation’s ANSARI X PRIZE
Competition is supported by its Title Sponsor, the Ansari family, and
Presenting Sponsor, Champ Car World Series. The Foundation is also supported
by Seven-Up and M&M’s as well as private donations from the St. Louis
Community through an organization called the New Spirit of St. Louis
Organization.
The Foundation’s mission is to educate the public about space travel, create
educational programming for students and space enthusiasts, and provide
incentives in the private sector to make space travel frequent and affordable
for the general public. Several additional sponsorships for the ANSARI X PRIZE
competition remain available to corporations or individuals who wish to
support the contest and associate themselves with courage, determination,
achievement, space, speed, high performance and technology.
To find out how individuals or corporations can join the efforts of the X
PRIZE, or involve neighborhood schools or community centers with X PRIZE
educational programs, visit www.xprize.org or contact the office at 636-519-
9449.
###
Some statements contained in this release may be forward-looking within the
meaning of the safe harbor clause of the Private Securities Litigation Reform
Act of 1995 including, but not limited to, statements as to commercialization
of the company’s products and business development activities. Editors and
investors are cautioned that such forward-looking statements involve risks and
uncertainties that may cause the company’s actual results to differ materially
from such forward-looking statements. These risks and uncertainties include,
but are not limited to, the company’s ability to generate revenues and other
factors as described in the Company’s literature and filings with the
Securities and Exchange Commission.
end of message, (c)DGAP 04.10.2004
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WKN: 925543; ISIN: US45953X2080; Index:
Listed: Freiverkehr in Berlin-Bremen; Nasdaq
041515 Okt 04
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