Breaking news– Tulsa based energy transporter JCI acquires R&D innovator Future Fuels
Tulsa, OK Sept 3, 2010–The founders of Future Fuels have approved the $50 million sale of their privately held research & development company.
“The addition of Future Fuels solidifies JCI’s commitment to becoming an industry leader in alternative fuels,” said Jack Coltan President and CEO.
Future Fuel’s innovative team is headed by two Noble Prize recipients in physics from the University of Colorado, Boulder.
“JCI and Future Fuels are a logical match. Our capabilities and vision combined with JCI’s market position can produce imminent solutions to the world’s urgent energy crisis,” said Yurgen Steiner co-founder.
Future Fuels has been credited with development of first generation hydro-automotive engines and a self-sustaining water system that instantly recycles water for immediate reuse. Currently this system is operational on the International Space Station and in both founder’s mountain homes.
JCI is most interested in Future Fuel’s latest innovation-nuclear powered fuel cells that are suspected to revolutionize power sources for transportation, manufacturing and residential homes.
Early market reaction signals investor support for the giant step away from the company’s traditional oil roots.
Mr. Coltan said, “If we invest our knowledge and resources into finding an alternative to our energy demands, we will be able to supplement our nation’s cravings for fossil fuels and preserve our green planet therefore balancing the dilemmas that currently burden our world.”
For more information contact:
T. Xanthus Merlot- Investor Relations