AlumiFuel Power's PBIS Products Well Received at AMS Annual Meeting
February 03 2012 - 7:00AM
Marketwired
Early production stage hydrogen generation company AlumiFuel Power
Corporation (OTCBB: AFPW) (the "Company"), through its operating
subsidiaries, announced today that its unique Portable Balloon
Inflation Systems (PBIS) generated significant interest at the 92nd
annual American Meteorological Society (AMS) Meeting in New
Orleans, January 23-26, 2012.
The annual AMS Meeting is the largest and most important
weather-related conference in the U.S., bringing together all of
the key players in the meteorological field. This year's event had
over 100 exhibitors and some 3,000 attendees from around the
world.
The Company's featured product was the PBIS-2000, representing
the latest in lift gas technology, now in final development for a
1Q 2012 delivery to the US Air Force Special Operations Command
(AFSOC). A handout on the PBIS-2000 was extremely well received by
military and meteorological community customers and prospective
industry partners.
The Company's Air Force customer has operational plans for the
first PBIS-2000 unit, following an on-site training session upon
delivery. Other military customers at the AMS Meeting indicated
that they are closely following the PBIS-2000 development, and one
expressed interest in further discussions for development and
testing similar to the Air Force. After introduction to the
Company's PBIS technology at the Meeting, several meteorological
community companies have indicated their intent to introduce the
PBIS-2000 and other PBIS products to foreign military and
meteorological users around the world. These conversations
confirmed that there is a significant foreign market for 30-45g
pilot balloons, which could be served by the Company's PBIS-lite
unit, which is a scaled down and less expensive version of the
PBIS-2000 designed to fill and launch 200g balloons.
The meteorological systems group of the largest U.S. defense
contractor confirmed their belief to Company representatives at the
AMS Meeting that the PBIS systems are ideal for mobile and remote
lift gas operations as compared to other field hydrogen generation
systems, and is in the initial stages of establishing a
mentor/protégé relationship with the Company.
Perhaps the most significant development at the AMS Meeting was
a series of discussions with several major companies in the
meteorological community that expressed interest in establishing
partnership arrangements involving worldwide marketing and sales of
the Company's PBIS products. As these developments materialize, the
Company will provide more information to its stakeholders.
The current weather balloon lift gas market is pegged at $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. Based on customer feedback, the Company
believes the PBIS family can become the field standard and lift gas
product of choice for NATO military users and meteorological
customers worldwide. 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).
The Company's Director of Engineering, Mr. Sean McIntosh, said,
"We were overwhelmed by the very positive reception of our
technology and products at the annual AMS Meeting."
About AlumiFuel Power Corporation AlumiFuel Power Corporation,
operating through its subsidiaries, 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. The Company'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. 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: Investor Relations: AlumiFuel Power
Corporation Thomas B. Olson Corporate Secretary 303-796-8940
Technical Information & Marketing: 484-466-2427
AlumiFuel Power (CE) (USOTC:AFPW)
Historical Stock Chart
From Aug 2024 to Sep 2024
AlumiFuel Power (CE) (USOTC:AFPW)
Historical Stock Chart
From Sep 2023 to Sep 2024