Alternative Fuel Systems Inc. Receives Order From Daimler Chrysler Licensee `IDEM' in Iran.CALGARY, ALBERTA--(AutomotiveWire)--Nov. 8, 1999-- Alternative Fuel Systems Inc. (VSE See DOS/VSE. VSE - Virtual Storage Extended :ATF) Monday announced significant progress with the Iranian Diesel Engine Manufacturing Co. (IDEM), following the company's initial news release of June 28, 1999, detailing the signing of a Memorandum of Understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. . Today the company announced receipt of an order of over 500 Sparrow compressed natural gas Compressed Natural Gas (CNG) is a substitute for gasoline (petrol) or diesel fuel. It is considered to be an environmentally "clean" alternative to those fuels. It is made by compressing natural gas (which is mainly composed by methane (CH4 (CNG) fueling systems to be fitted to Mercedes OM 355 engines during engine manufacture in Iran. The order is valued at approximately $900,000. IDEM is 30% owned and manufactures under license from Daimler Chrysler. Iran, with the second largest natural gas resources in the world is rapidly implementing the use of natural gas vehicles This is a list of natural gas vehicles. Airplanes
For Further Information Contact: Alternative Fuel Systems Inc. Jo-Anne Cappis Investor Relations Phone: 403/262-1833 Fax: 403/237-7441 E-mail: afsweb@telusplanet.net Web site: www.altfuelsys.com The Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). has not reviewed and does not accept responsibility for the adequacy or accuracy of the news release. |
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