AlumiFuel Power Corporation Continues to Pursue Global Lift Gas Market for Its PBIS Systems
September 18 2013 - 7:00AM
Marketwired
Early production stage hydrogen generation company AlumiFuel Power
Corporation (OTCQB: AFPW) (the "Company") announced today that its
wholly owned operating subsidiary, Philadelphia area -based
AlumiFuel Power Technologies, Inc., will be participating in the
Meteorological Technology World Expo in Brussels, Belgium, October
15-17, 2013. (www.meteorologicaltechnologyworldexpo.com). This
annual event is an important international exhibition for the
meteorological systems and services community and their customers.
The Met World Expo is an important industry event, and provides a
market forum for the face to face presentation and discussion of
AlumiFuel Power's Portable Balloon Inflation System (PBIS)
technology and products.
Last year, the Met World Expo had 140 exhibitors and attracted
over 2500 attendees from 77 different countries. At last year's
event, AlumiFuel Power promoted its new PBIS-2000 for filling
weather balloons alongside the leading global manufacturers and
service providers of climate, weather, and hydrometeorological
instrumentation. Mr. Ed Figelman, AlumiFuel Power's marketing lead
for PBIS systems, met with prospective customers from the U.S,
Europe, and elsewhere, and found significant interest in our new
PBIS products for filling weather balloons from both civilian and
military users alike.
The 2013 Met World Expo is expected to be even larger than last
year with over 160 exhibitors and an expectation of more than 3000
attendees. The various and continuing difficulties of sourcing
helium and of using other sources of hydrogen are still clearly on
the minds of those tasked with deploying weather balloons.
AlumiFuel Power's PBIS technology and products are an appropriate
solution to these difficulties and are sure to continue to generate
significant interest. While AlumiFuel Power is not formally
exhibiting this year, Mr. Figelman has already scheduled meetings
with various worldwide end users, distributors, and providers of
complimentary balloon sounding equipment, and expects updates on
respective sales opportunities and procurement programs.
The U.S. Air Force Special Operations Command continues to
conduct field testing of the PBIS-2000 unit (see AFPW news release
of June 19, 2013). Once the field trials are completed, the Company
anticipates orders for production versions of the PBIS-2000
hydrogen lift gas generator and AlumiFuel cartridges from the Air
Force and other potential customers worldwide. Meanwhile, the NATO
country which took delivery of three PBIS-1000 units in 2010 is in
the process of putting out an RFI/RFP for the purchase of
operational PBIS systems, reportedly based on the specifications of
the PBIS-1000. AFPW expects this process, including contract award,
to be completed by the end of March, 2014, with the purchase of
production units in 2014, 2015 and 2016.
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).
About AlumiFuel Power Corporation AlumiFuel Power Corporation,
through its U.S. operating subsidiary, AlumiFuel Power
Technologies, Inc., is an early production stage alternative energy
company that generates hydrogen gas and 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 generation feeds fuel
cells for backup and portable power, provides lift gas for 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 power fuel cell-based and turbine-based undersea
propulsion 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: Email Contact
AlumiFuel Power (CE) (USOTC:AFPW)
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