IFS ANNOUNCES INITIAL $1M PURCHASE ORDER FROM KAG CANADA, NORTH AMERICA'S LARGEST TANK TRUCK TRANSPORTER

EDMONTON, AB, July 5, 2023 /PRNewswire/ - Innovative Fuel Systems Limited (IFS), an Edmonton-based privately-owned cleantech company that provides innovative products that generate fuel savings and reduce greenhouse gas (GHG) emissions in heavy-duty (HD) trucks, is pleased to announce an initial $1M purchase order from KAG Canada (KAG) for IFS' patent-pending retrofit technology, Multi-Fuel Technology Platform (MFTP™).

This initial order will commence the first stage of KAG's deployment of IFS' MFTP™ technology on existing HD trucks in Alberta and Ontario. By using IFS' MFTP™ technology to displace diesel fuel with cleaner burning natural gas, KAG can reduce GHG emissions and fuel costs in their commercial HD truck operations.

"We're expanding the use of IFS' MFTP™ technology within our Canadian fleet because it provides GHG emissions reductions and fuel savings and has proven to be very reliable in our 2 years of commercial operations," said Chris Chapman, Vice President, Fleet Services, KAG Canada. "We'll continue to further roll out the IFS technology as driven by our customers' needs to reduce GHG emissions from our trucking operations."

"Our best-in-class MFTP™ retrofit technology is the only available methodology that can economically reduce GHG emissions for existing HD diesel trucks. With several years of commercial deployments, our MFTP™ technology has proven to add value by reducing GHG emissions and fuel costs," said Leland Oberst, President and Chief Executive Officer of IFS. "We are delighted that KAG has chosen our MFTP™ technology as part of their HD truck GHG emissions reduction strategy."

IFS (www.innovativefuelsystems.com) is an Edmonton-based privately-owned cleantech company that provides innovative products that generate fuel savings and reduce greenhouse gas emissions in heavy-duty trucks. IFS has a proprietary, patent-pending Multi-Fuel Technology Platform for retrofitting Class 8 heavy-duty diesel engines to operate with compressed natural gas (CNG) or renewable natural gas (RNG) that can also integrate other cleaner burning fuels, such as hydrogen. IFS' strong patent applications, sophisticated programming, and proprietary methodology enable it to efficiently retrofit heavy-duty fleets to reduce greenhouse gas emissions and fuel costs.

KAG Canada (www.kagcanada.ca) is the Canadian service group for The Kenan Advantage Group, Inc., (KAG). KAG is North America's largest tank truck transporter and logistics provider, delivering energy commodities, specialty products, merchant gases, and food products across the United States, Canada, and Mexico. KAG Canada encompasses Westcan Bulk Transport, RTL Construction, Les Distributions Carl Beaulac, Paul's Hauling, Kentrax Transport, Connectrans Logistics, and Valley West Transport. The hauling companies under KAG Canada have nearly 60 years of combined experience and serve over 600 customers.

KAG's core values include an uncompromising commitment to people, customers, and community. They believe in putting people first, developing strong partnerships, maintaining the highest standards of safety and security, behaving with integrity, practicing environmental sustainability, and promoting diversity, equity, and inclusion. These values are at the heart of everything they do.

SOURCE Innovative Fuel Systems