|By Business Wire||
|June 3, 2014 07:03 AM EDT||
Fuel Performance Solutions, Inc. (FPS) (OTC: IFUE) announced today that it made an initial sale of DiesoLiFT™ into the marine market through distribution partner Brenntag. FPS’s entry into the marine market follows the publication of a report by FOBAS – Fuel Oil Bunkering Analysis and Advisory Service (https://www.fobas.com/), a division of Lloyd’s Register Marine dedicated to marine fuel analysis, that found adding DiesoLiFT™, FPS’s proprietary fuel additive, does no harm (i.e. no change in fuel specification) when added to marine fuels.
This report has prompted the interest of a number of shipping companies who have indicated they will commence dry dock engine work immediately with a derivation of the core DiesoLiFT™ technology.
“The marine market is a huge opportunity for us,” said Jonathan Burst, FPS’s CEO. “It consumes 200 million metric tons of heavy fuel oil each year. The proven fuel economy benefits of DiesoLiFT™ plus the no harm finding puts us in a position to capitalize on this market segment as well.”
Mr. Burst added, “Once again our distribution partners will lead the way into these large application markets. Brenntag, who is also the manufacturer of our products, continues to generate new customers and opportunities for FPS.”
Brenntag Group (http://www.brenntag.com/) is a global leader in the distribution and manufacture of industrial and specialty chemicals and additives and lubricants. Brenntag has a global network of more than 480 locations in 70 countries, with annual revenues of $13 billion.
New emissions standards for the shipping industry will go into effect January 1, 2015. This should increase the usage of marine gas oil (“MGO”) as ships will have to refrain from burning existing bunker fuel in designated Emission Control Areas (“ECA’s”), which are port areas along the coasts of Europe and North America.
This regulatory change gives ship-owners three options. First, they can retrofit their existing tonnage to run on liquefied natural gas (“LNG”), which at $10-20 million per ship rarely makes financial sense except for newbuilds. Second, they can pay $3-10 million to equip their ships with scrubbers. Third, they can switch to MGO while operating in ECA’s.
“For a great many ship-owners, the capital expenditure requirements put LNG and scrubbers out of reach,” said Axel Farhi, FPS’s Director of Global Business Development. “Many will, by default, opt for burning MGO. DiesoLiFT™ has proven that it makes engines run more efficiently. We can save ship-owners up to 5% on the cost of their MGO.”
In addition, FPS has successfully tested DiesoLiFT™ in bunker fuel.
Mr. Farhi concluded, “FPS is already selling DiesoLiFT™ 10 in the rail, stationary power generation and road transportation industries. The addition of potential customers in the marine industry increases our potential for growth, and we look forward to developing our standing in this market.”
About Fuel Performance Solutions, Inc.
Fuel Performance Solutions, formerly International Fuel Technology, Inc., is a company focused on providing its technology to large, industrial consumers of diesel fuel and bio-diesel fuel blends in the rail, stationary power generation and road transport industries.
Safe Harbor Statement
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.
Further information on DiesoLiFT™ and the PerfoLiFT™ BD-Series may be found at FPS’s website: www.internationalfuel.com.
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
Nov. 26, 2015 08:30 AM EST Reads: 174
The Internet of Everything is re-shaping technology trends–moving away from “request/response” architecture to an “always-on” Streaming Web where data is in constant motion and secure, reliable communication is an absolute necessity. As more and more THINGS go online, the challenges that developers will need to address will only increase exponentially. In his session at @ThingsExpo, Todd Greene, Founder & CEO of PubNub, exploreed the current state of IoT connectivity and review key trends and t...
Nov. 26, 2015 06:45 AM EST Reads: 391
Two weeks ago (November 3-5), I attended the Cloud Expo Silicon Valley as a speaker, where I presented on the security and privacy due diligence requirements for cloud solutions. Cloud security is a topical issue for every CIO, CISO, and technology buyer. Decision-makers are always looking for insights on how to mitigate the security risks of implementing and using cloud solutions. Based on the presentation topics covered at the conference, as well as the general discussions heard between sessi...
Nov. 26, 2015 06:15 AM EST Reads: 298
Culture is the most important ingredient of DevOps. The challenge for most organizations is defining and communicating a vision of beneficial DevOps culture for their organizations, and then facilitating the changes needed to achieve that. Often this comes down to an ability to provide true leadership. As a CIO, are your direct reports IT managers or are they IT leaders? The hard truth is that many IT managers have risen through the ranks based on their technical skills, not their leadership ab...
Nov. 26, 2015 06:00 AM EST Reads: 350
Continuous processes around the development and deployment of applications are both impacted by -- and a benefit to -- the Internet of Things trend. To help better understand the relationship between DevOps and a plethora of new end-devices and data please welcome Gary Gruver, consultant, author and a former IT executive who has led many large-scale IT transformation projects, and John Jeremiah, Technology Evangelist at Hewlett Packard Enterprise (HPE), on Twitter at @j_jeremiah. The discussion...
Nov. 26, 2015 03:45 AM EST Reads: 691
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
Nov. 26, 2015 03:00 AM EST Reads: 303
With all the incredible momentum behind the Internet of Things (IoT) industry, it is easy to forget that not a single CEO wakes up and wonders if “my IoT is broken.” What they wonder is if they are making the right decisions to do all they can to increase revenue, decrease costs, and improve customer experience – effectively the same challenges they have always had in growing their business. The exciting thing about the IoT industry is now these decisions can be better, faster, and smarter. Now ...
Nov. 26, 2015 02:00 AM EST Reads: 187
The Internet of Things is clearly many things: data collection and analytics, wearables, Smart Grids and Smart Cities, the Industrial Internet, and more. Cool platforms like Arduino, Raspberry Pi, Intel's Galileo and Edison, and a diverse world of sensors are making the IoT a great toy box for developers in all these areas. In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists discussed what things are the most important, which will have the most profound...
Nov. 26, 2015 01:30 AM EST Reads: 432
In today's enterprise, digital transformation represents organizational change even more so than technology change, as customer preferences and behavior drive end-to-end transformation across lines of business as well as IT. To capitalize on the ubiquitous disruption driving this transformation, companies must be able to innovate at an increasingly rapid pace. Traditional approaches for driving innovation are now woefully inadequate for keeping up with the breadth of disruption and change facin...
Nov. 26, 2015 01:00 AM EST Reads: 435
PubNub has announced the release of BLOCKS, a set of customizable microservices that give developers a simple way to add code and deploy features for realtime apps.PubNub BLOCKS executes business logic directly on the data streaming through PubNub’s network without splitting it off to an intermediary server controlled by the customer. This revolutionary approach streamlines app development, reduces endpoint-to-endpoint latency, and allows apps to better leverage the enormous scalability of PubNu...
Nov. 26, 2015 12:00 AM EST Reads: 282
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Day 2 Keynote at 17th Cloud Expo, San...
Nov. 26, 2015 12:00 AM EST Reads: 523
Discussions of cloud computing have evolved in recent years from a focus on specific types of cloud, to a world of hybrid cloud, and to a world dominated by the APIs that make today's multi-cloud environments and hybrid clouds possible. In this Power Panel at 17th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists addressed the importance of customers being able to use the specific technologies they need, through environments and ecosystems that expose their APIs to make true ...
Nov. 26, 2015 12:00 AM EST Reads: 486
In his General Session at DevOps Summit, Asaf Yigal, Co-Founder & VP of Product at Logz.io, explored the value of Kibana 4 for log analysis and provided a hands-on tutorial on how to set up Kibana 4 and get the most out of Apache log files. He examined three use cases: IT operations, business intelligence, and security and compliance. Asaf Yigal is co-founder and VP of Product at log analytics software company Logz.io. In the past, he was co-founder of social-trading platform Currensee, which...
Nov. 26, 2015 12:00 AM EST Reads: 154
Microservices are a very exciting architectural approach that many organizations are looking to as a way to accelerate innovation. Microservices promise to allow teams to move away from monolithic "ball of mud" systems, but the reality is that, in the vast majority of organizations, different projects and technologies will continue to be developed at different speeds. How to handle the dependencies between these disparate systems with different iteration cycles? Consider the "canoncial problem"...
Nov. 25, 2015 10:00 PM EST Reads: 394
I recently attended and was a speaker at the 4th International Internet of @ThingsExpo at the Santa Clara Convention Center. I also had the opportunity to attend this event last year and I wrote a blog from that show talking about how the “Enterprise Impact of IoT” was a key theme of last year’s show. I was curious to see if the same theme would still resonate 365 days later and what, if any, changes I would see in the content presented.
Nov. 25, 2015 09:00 PM EST Reads: 367