AlumiFuel Power Hydrogen Generation System Viewed as Ideal Fuel Source for Rapidly Expanding Global Backup Power Market
May 30 2013 - 7:00AM
Marketwired
Early production stage hydrogen generation company AlumiFuel Power
Corporation (OTCQB: AFPW) (the "Company"), announced today that it
is pursuing myriad new 5kW backup power opportunities worldwide
through its operating subsidiary, AlumiFuel Power Technologies,
Inc.
The large and growing U.S. back-up power market, traditionally
served by lead-acid batteries and gasoline or diesel generators, is
increasingly adopting hydrogen PEM fuel cell systems to replace
these earlier technologies. The size of this market is enormous and
growing -- $6.4 billion today for the emergency response segment
(police, fire, medical, disaster preparedness) and an even larger
multi-billion dollar segment for the telecom and financial services
industries.
U.S. wireless telecom carriers are continuing to expand the use
of hydrogen fuel cells for 5kW backup power systems. As of early
2012, over 1,100 fuel cells had been installed at cell phone tower
sites, most of which are 5kW systems. One large carrier, which
enjoys strong support from the Department of Energy, in particular
has expressed keen interest in the AlumiFuel cartridge-based
technology as a superior hydrogen generation and storage solution
for feeding fuel cells that back up their 5kW rooftop cell towers.
This carrier and the Company are continuing to discuss options for
fielding the AlumiFuel hydrogen generation technology. According to
industry sources, the four major U.S. wireless carriers have
approximately 75,000 rooftop tower installations -- 20% of which
(15,000) will ultimately use hydrogen fuel cells, and 8% of which
(6,000) is a reasonable target for using the AlumiFuel hydrogen
generation system. The four carriers also have approximately
205,000 ground-based tower sites; applying the same 8% capture rate
for the AlumiFuel technology amounts to 16,400 sites. Large
additional U.S. applications for 5kW backup power fuel cells,
including the power transmission industry (205,000 sites) and
financial & general industry (50,000 sites), provide another
20,000 target sites for AlumiFuel Power. These numbers do not
include the emerging market for new "green home" backup power,
which could in time become the largest market of all.
Likewise, telecom and other users in Europe, Asia, Africa and
Latin America are actively pursuing the development and fielding of
5kW fuel cell power systems to supplement or take the place of grid
power for a variety of applications. This is a multi-billion dollar
worldwide market encompassing many hundreds of thousands of telecom
towers requiring 5kW fuel cell primary (60%) or backup (40%) power
systems.
AlumiFuel Power Technology's CEO, Mr. David Cade, said:
"AlumiFuel Power is on track to penetrate this enormous global
market with fuel cell partners and end-user customers who recognize
the advantages of our hydrogen generation system over other
hydrogen fuel sources."
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)
Historical Stock Chart
From Apr 2024 to May 2024
AlumiFuel Power (CE) (USOTC:AFPW)
Historical Stock Chart
From May 2023 to May 2024