AlumiFuel Power Updates New Initiatives
January 04 2012 - 7:00AM
Marketwired
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"), today announced several important developments
involving its operations heading into the new year.
In November 2011 API moved out of the University City Science
Center, and is now in the process of relocating into a larger
laboratory facility in an industrial park in the Philadelphia
suburbs, which will enable API to expand into light production.
This relocation also will have a positive impact on API's bottom
line since monthly rental and operating expenses will be
significantly reduced.
API also has exciting developments involving several different
technology applications. In the portable power arena, API has an
emerging relationship with one of the world's largest manufacturers
of PEM fuel cells. The advanced engineering solutions group of this
company initiated contact with API -- seeking a new hydrogen
generation technology that can be paired with their fuel cell
systems to open up new man-portable and back-up power applications
and markets. In a related vein, API is in discussions with a major
University regarding a partnership to commercialize their unique
hydrogen storage Intellectual Property, which is highly synergistic
with API's hydrogen generation technology. This new initiative
would provide an entry into new fuel cell markets for vehicular,
back-up and auxiliary power applications. Further public
announcements will be forthcoming as these relationships
evolve.
In the Portable Balloon Inflation System (PBIS) area, API's
contract with the U.S. Air Force Special Operations Command to
develop and deliver a new PBIS-2000 system has generated
considerable market interest. The meteorological systems group of
the largest U.S. defense contractor has stated that the API unit is
ideal for mobile and remote lift gas operations as compared to
other field hydrogen generation systems. They have expressed
interest in a potential mentor/protégé relationship, which would
include the identification of new customers. API will be
interacting with the Air Force Special Operations customer and this
defense contractor at the 92nd annual American Meteorological
Society meeting in New Orleans in late January, 2012.
In addition, API's military customer for the PBIS-1000 system,
initially delivered in 2010, has advised that no other lift gas
solution can come close to the PBIS-1000 in satisfying their
requirements, and that they are still very interested in moving
forward with the procurement process.
API's President & CEO, Mr. David Cade, said, "As we enter
2012, we are looking forward to pursuing the many new exciting
opportunities highlighted above. Despite the global economic
downturn, we remain optimistic about commercializing our unique
technology, and are encountering an increasing number of
addressable applications and markets."
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
AlumiFuel Power (CE) (USOTC:AFPW)
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