AlumiFuel Power's Unique Hydrogen Generation System at Forefront as New Business Opportunities in the Weather Balloon Lift Ga...
June 04 2013 - 7:00AM
Marketwired
Early production stage hydrogen generation company AlumiFuel Power
Corporation (OTCQB: AFPW) (the "Company"), announced today that it
is pursuing new weather balloon lift gas opportunities through its
operating subsidiary, AlumiFuel Power Technologies, Inc.
An unspecified NATO military customer, which purchased three
PBIS-1000 systems in 2010, is now planning to procure a significant
number of new operational hydrogen lift gas units within the next
two years. A budget has been earmarked for this initiative, which
will include hydrogen generators, fuel cartridges, training, and
testing. The PBIS-1000 uses two AlumiFuel cartridges to launch 100g
weather balloons.
Meanwhile, the second round of on-site training and testing of
the Portable Balloon Inflation System (PBIS-2000), which was
delivered to USAF Special Operations Command in January following
completion of customer-specified modifications (see news release of
January 8, 2013), is being delayed by funding limitations imposed
by the U.S. government budget sequestration. The Company expects
this situation to be resolved within the next several months. The
PBIS-2000 uses six AlumiFuel Cartridges to launch 200g weather
balloons.
In addition, the Company's sales representative for lift gas
applications, Ed Figelman, continues to receive interest in the
PBIS systems from both end-users of Hydrogen lift gas and
commercial entities involved in the sales of upper air equipment.
Recent examples, include various regions of NOAA/US National
Weather Service, US Naval Air Systems Command, West Africa Civil
Aviation Authority (ASECNA), South Africa Weather Service, as well
as commercial concerns in South America, Europe, Asia, and the
Middle East.
The current weather balloon lift gas market is estimated to be
$200 million per year, and encompasses military as well as civil
government meteorological users worldwide. Traditionally, helium
has been used as the primary lift gas for weather balloons, but
with the increasing scarcity and cost of helium, users are rapidly
switching to hydrogen and the Company's PBIS family is far more
mobile, safe, and cost effective than other on-site hydrogen
generation systems. After purchasing any unit of the PBIS family,
typical customers would continue to purchase replacement cartridges
to launch up to 700 balloons per unit each year (up to 4,200
cartridges).
AlumiFuel Power Technology's CEO, Mr. David Cade, said:
"Although budget issues have delayed procurement of new lift gas
systems on the part of military customers, we are beginning to see
some progress in this regard, and our PBIS systems are regarded as
an exciting new game-changing technology."
About AlumiFuel Power Corporation (www.alumifuelpowercorp.com)
AlumiFuel Power Corporation, operating through its wholly owned
subsidiary, AlumiFuel Power Technologies, Inc., is an early
production stage alternative energy company that generates hydrogen
gas and steam/heat through the chemical reaction of aluminum
powder, water, and proprietary additives. This technology is
ideally suited for multiple applications requiring on-site,
on-demand fuel sources, serving National Security and commercial
customers. The Company's hydrogen feeds fuel cells for portable and
back-up power; fills inflatable devices such as weather balloons;
and can replace costly, hard-to-handle and high pressure
K-Cylinders. Its hydrogen/heat output is also being designed and
developed to drive fuel cell-based and turbine-based undersea
propulsion systems and auxiliary power systems. The Company has
significant differentiators in performance, adaptability, safety
and cost-effectiveness in its target market applications, with no
external power required and no toxic chemicals or by-products.
Safe Harbor for Forward-looking Statements
This news release may contain forward-looking statements that are
made pursuant to the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. While these statements
are made to convey to the public the company's progress, business
opportunities and growth prospects, they are based on management's
current beliefs and assumptions as to future events. However, since
the company's operations and business prospects are always subject
to risk and uncertainties, the forward-looking events and
circumstances discussed in this news release might not occur, and
actual results could differ materially from those described,
anticipated or implied. For a more complete discussion of such
risks and uncertainties, please refer to the company's filings with
the Securities and Exchange Commission.
CONTACTS: AlumiFuel Power Investor Relations:
AlumiFuel Power Corporation Thomas B. Olson Corporate Secretary
303-796-8940 Technical Information & Marketing: Email
Contact 610-660-7775
AlumiFuel Power (CE) (USOTC:AFPW)
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