Puradyn Receives First U.S. Army Contract
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BOYNTON BEACH, FL, Jul 31 (MARKET WIRE) --
Puradyn Filter Technologies Incorporated (OTCBB: PFTI) announced today it
has received a contract from the U.S. Army to supply 70 puraDYN(R) oil
filtration systems. The contract is to outfit the Joint Explosive
Ordnance Disposal Rapid Response Vehicle (JERRV), which is part of the
family of vehicles commonly known as MRAP (Mine Resistant Ambush
Protected).
The MRAP vehicles have received outstanding service reports over the past
few years in the war on terror. In fact, due to outstanding performance,
the MRAP is considered an "urgent need," receiving major support in
Congress and is considered the next generation of armored fighting
vehicles.
Kevin G. Kroger, President and Chief Operating Officer, Puradyn, said,
"This first order, and further anticipated orders, is the result of a
combination of hard work and strong team effort between the U.S. Army and
Puradyn. We began testing our system with the U.S. Army on this project in
late 2005 and based on the results in field combat situations, the system
was proven worthy and combat-ready. We are confident this will continue to
open doors for us with other military vehicles."
Kroger continued, "We are proud of the performance our system has shown
under very demanding conditions. Its performance will help the MRAP team
meet the Army Material Command's efforts to reduce oil usage and
consumption as well as help our soldiers by keeping the vehicles in
continuous service."
Kroger concluded, "The safe extension of the oil's life and therefore the
vehicle's service interval, translates into a significant reduction in the
military's sustainment costs. By reducing the amount of oil required for
equipment, the Army is also able to reduce the number of tankers needed to
transport the oil to the equipment. The puraDYN system provides
far-reaching, indirect benefits in longer engine life and lower
maintenance costs."
About Puradyn Filter Technologies Incorporated
Puradyn (OTCBB: PFTI) designs, manufactures and markets the puraDYN(R) Oil
Filtration System, the most effective bypass oil filtration product on the
market today. It continuously cleans lubricating oil and maintains oil
viscosity to safely and significantly extend oil change intervals and
engine life. Effective for internal combustion engines, transmissions and
hydraulic applications, the Company's patented and proprietary system is a
cost-effective and energy-conscious solution targeting an annual $15
billion potential industry. PuraDYN(R) equipment was selected as the
manufacturer used by the U.S. Department of Energy in a three-year
evaluation to research and analyze the performance, benefits and cost
analysis of bypass oil filtration technology.
STATEMENTS IN THIS PRESS RELEASE WHICH ARE NOT HISTORICAL DATA ARE
FORWARD-LOOKING STATEMENTS WHICH INVOLVE KNOWN AND UNKNOWN RISKS,
UNCERTAINTIES OR OTHER FACTORS NOT UNDER THE COMPANY'S CONTROL, INCLUDING
BUT NOT LIMITED TO THE POSSIBLE INABILITY TO RAISE CAPITAL FUNDS, LACK OF
PROTECTION FROM INTELLECTUAL PROPERTY, VULNERABILITY BECAUSE OF
MANUFACTURING A LIMITED NUMBER OF PRODUCTS, DEPENDENCE ON DISTRIBUTORS,
ORDERS PREVIOUSLY STATED IN THIS PRESS RELEASE MAY NOT MATERIALIZE, AND
THE POSSIBILITY THAT THE PRODUCTS DO NOT MEET CUSTOMERS' NEEDS, WHICH MAY
CAUSE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS OF THE COMPANY TO BE
MATERIALLY DIFFERENT FROM THE RESULTS, PERFORMANCE OR OTHER EXPECTATIONS
IMPLIED BY THESE FORWARD-LOOKING STATEMENTS. THESE FACTORS INCLUDE, BUT
ARE NOT LIMITED TO, THOSE DETAILED IN THE COMPANY'S PERIODIC FILINGS WITH
THE SECURITIES AND EXCHANGE COMMISSION.
CONTACT:
Kathryn Morris
Director, Corporate Communications
(T) 561 547 9499, x 226
investor-relations@puradyn.com
http://www.puradyn.com
Copyright 2008, Market Wire, All rights reserved.
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