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.
For full news release go to http://finance.yahoo.com/news/Alternative-Fuel-Technologies-iw-1201235007.html?x=0&.v=1
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.
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