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SmallCapNewsRelase: (OTC: AFTC) applies for 20 million dollar US Navy contract


(SmallCapNewsRelease, July. 1, 2009) – Jericho, N.Y. – Alternative Fuel Technologies Inc. (OTC: AFTC) today announced it has submitted a proposal to the US NAVY SBIR to develop an innovative advanced propulsion solution for future combatant craft with breakthrough technology for multi-fuel engines weighing three to five times less than conventional diesel engines of the same horsepower.

The SBIR invitation (Topic Number NO 92-122 - NAVY) project includes three phases totaling nearly $20,000,000.00 after full completion of a prototype engine installed on a marine craft. AFTC expects an answer from the US NAVY in the next 60 to 90 days.

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Alternative Fuel Technologies Inc. is 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.

SmallCapNewsRelease Gainers are American International Group (NYSE: AIG), Freddie Mac (NYSE: FRE-PK), Horizon Financial Corp. (Nasdaq: HRZB), MoneyGram International. (NYSE: MGI), OSHKOSH. (NYSE: OSK), Dover Saddlery (Nasdaq: DOVR), Cascade Microtech, Inc. (Nasdaq: CSCD), and Audiovox Corporation. (Nasdaq: VOXX).

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