Last week, the company told investors that it was ready to sign new deals with vehicle manufacturers in preparation to make smog-spewing diesel vehicles more environmentally friendly, according to the Calgary Herald.
AFS promotes running trucks on compressed natural gas, slashing the output of pollutants drastically. Unlike some alternative fuel technologies, this one costs little to install and actually makes trucks cheaper to operate since natural gas costs less than diesel fuel, the article said.
In the last year, the company has signed major contracts with DaimlerChrysler’s Iranian truck unit and Mitsubishi Motors in Japan, and the company says once environmental protection acts become laws, more deals are just around the corner.
AFS has raised $24 million in financing for the projects and is planning to move its 38 employees into a 52,000-square-foot testing and research facility early next year.