EXHIBIT 31.2

**CERTIFICATION**

I, Michael F. Obertop, certify that:

|   | 1.     | I have reviewed this annual report on Form 10-K of   International Fuel Technology, Inc.;                                                                                                                                                                                                                                        |
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|   | 2.     | Based on my knowledge, this annual report does not   contain any untrue statement of a material fact or omit to state a material   fact necessary to make the statements made, in light of the circumstances   under which such statements were made, not misleading with respect to the   period covered by this annual report; |
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|   | 3.     | Based on my knowledge, the financial statements, and   other financial information included in this annual report, fairly present in   all material respects the financial condition, results of operations and cash   flows of the registrant as of, and for, the periods presented in this   quarterly report;                 |
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|   | 4.     | The registrant’s other certifying officers and I are   responsible for establishing and maintaining disclosure controls and   procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the   registrant and we have:                                                                                       |
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|   |   |                                                                                                                                                                                                                                                                                                                             | a) designed such disclosure controls and procedures,   or caused such disclosure controls and procedures to be designed under our   supervision, to ensure that material information relating to the registrant,   including its consolidated subsidiaries, is made known to us by others within   those entities, particularly during the period in which this annual report is   being prepared; |
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|   |   |                                                                                                                                                                                                                                                                                                                             | b) [Paragraph omitted in accordance with SEC   transition instructions contained in SEC Release 34-47986]; and |
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|   |   |                                                                                                                                                                                                                                                                                                                             | c) Evaluated the effectiveness of the registrant’s   internal controls and procedures and presented in this report our conclusions   about the effectiveness of the disclosure controls and procedures, as of the   end of the period covered by this report based on such evaluation; and |
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|   |   |                                                                                                                                                                                                                                                                                                                             | d) Disclosed in this report any change in the   registrant’s internal control over financial reporting that occurred during   the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal   quarter in the case of an annual report) that has materially affected, or is   reasonably likely to materially affect, the registrant’s internal control   over financial reporting; and |
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|   | 5.     | The registrant’s other certifying officers and I   have disclosed, based on our most recent evaluation of internal control over   financial reporting, to the registrant’s auditors and the audit committee of   registrant’s board of directors (or persons performing the equivalent   function):               |
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|   |   |                                                                                                                                                                                                                                                                                                                             | a) All significant deficiencies and material weaknesses   in the design or operation of internal control over financial reporting which   are reasonably likely to adversely affect the registrant’s ability to record,   process, summarize and report financial information; and |
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|   |   |                                                                                                                                                                                                                                                                                                                             | b) Any fraud, whether or not material, that involves   management or other employees who have a significant role in the registrant’s   internal control over financial reporting. |

 

|   | By:    | /s/ MICHAEL F. OBERTOP        |   | Date: March 19, 2004 |
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|   |   |                               |   |                 |
|   |   | **Michael F.   Obertop**      |   |                 |
|   |   | **Chief   Financial Officer** |   |                 |