AFPW AlumiFuel Power Corporation (CE)

Early production stage hydrogen generation company AlumiFuel Power, Inc. ("API"), the Philadelphia, Pennsylvania-based wholly owned operating subsidiary of AlumiFuel Power Corporation (OTCBB: AFPW) (the "Company"), announced today it is in the process of broadening the Company's Intellectual Property (IP) portfolio to include numerous aluminum- and non aluminum-related hydrogen storage/generation technologies. In addition to its own in-house new technology developments, API is in discussions with certain academic institutions already holding Department of Energy (DOE)-funded technology IP, which are interested in finding a suitable industry partner to jointly commercialize the technology.

The new IP initiatives involve enhanced additives, solid aluminum, gelled aluminum, and chemical hydrides. These new capabilities will expand upon the current state of the aluminum powder storage technologies and allow API to expand into ancillary markets not currently suitable to aluminum powder alone. These include the vehicular industry and other near term markets which the DOE has identified as being early adopters of hydrogen as a fuel source, such as forklifts and airport ground support equipment.

API's powder aluminum technology is very suitable for many portable hydrogen applications where there is a very high premium in reducing shipment weight or where very fast reactions and heat are necessary as in weather balloon inflating and Unmanned Undersea Vehicle power plants. New advances in reacting solid aluminum will be able to further increase the volumetric storage density for these applications since solid aluminum has nearly twice the density of powder aluminum. Other technologies that the DOE is pursuing place a much higher premium on the ability to rapidly fuel and defuel vehicles at an economical cost. This is where new IP initiatives -- such as aluminum powder that is embedded in a carrier gel allowing the material to be pumped in and out of the reactor chamber quickly and easily -- could be very attractive. Furthermore API is looking at materials outside of aluminum that would be attractive to the DOE and the automotive industry, including metal hydrides. Metal hydrides act as hydrogen sponges, allowing the absorption of hydrogen at low pressures, making them ideally suited to near term pre-automotive vehicular applications.

These ancillary hydrogen storage markets are potentially enormous and could have a profound impact on the energy market as PEM fuel-cell powered systems and vehicles replace battery and gasoline-powered technologies. Based on a market survey commissioned by DOE, the addressable market segments using PEM fuel cell power are as follows: Emergency Response back-up power -- $6.4 billion; Forklifts -- $5.2 billion by 2013; and Airport Ground Material Handling Vehicles -- $2.6 billion.

API's Director of Engineering, Mr. Sean McIntosh, said, "We believe these new hydrogen storage/generation technologies will help round out our product line and allow us to access new markets and funding opportunities, most specifically with the DOE."

About AlumiFuel Power, Inc. API (www.alumifuelpowerinc.com), the Philadelphia, Pennsylvania-based wholly owned operating subsidiary of AlumiFuel Power Corporation, is an early production stage alternative energy company that generates hydrogen gas and steam/heat through the chemical reaction of aluminum, 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. API's hydrogen feeds fuel cells for portable and back-up power; fills inflatable devices such as weather balloons; can replace costly, hard-to-handle and high pressure K-Cylinders; and provides fuel for flameless heater applications. 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. API 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.

About AlumiFuel Power Corporation AlumiFuel Power Corporation operates through its wholly owned operating subsidiary, AlumiFuel Power, Inc., a Philadelphia-based early production stage alternative energy company that generates hydrogen gas and heat for multiple applications requiring on-site, on-demand fuel sources.

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: Investor Relations: AlumiFuel Power, Inc. Thomas B. Olson Corporate Secretary 303-796-8940 Technical Information & Marketing: API Laboratories 484-466-2427 Email Contact