AlumiFuel Power Corp. Annnounces Formation of Subsidiary to Pursue Early Stage Bus. Opportunities in Bitcoin & Other Digital ...
February 13 2014 - 7:00AM
Marketwired
AlumiFuel Power Corporation Annnounces Formation of Subsidiary to
Pursue Early Stage Business Opportunities in Bitcoin and Other
Digital Cryptocurrencies
CENTENNIAL, CO--(Marketwired - Feb 13, 2014) - Early production
stage hydrogen generation company AlumiFuel Power Corporation
(OTCQB: AFPW) (AlumiFuel or the "Company") announced today that it
has formed a new wholly-owned subsidiary, Bitcoin Capital
Corporation, to pursue early stage business opportunities in
Bitcoin and other cryptocurrency focused companies and
projects. It intends to provide angel funding and assistance
in business development and consulting services related to these
activities. Management believes this approach will offer a
simplified entry for the investor to gain exposure to Bitcoin and
other cryptocurrencies by eventually providing a diversified
portfolio of early stage companies and projects in this up and
coming realm.
In a press release dated February 6, 2014, the Company announced
a change in its strategic direction to which this newly formed
subsidiary marks the next step following NovoFuel.
Henry Fong, Chief Executive Officer, said, "Bitcoin is a
cryptocurrency that is not issued by any government, bank or
central financial organization. We believe that its increased
acceptance and popularity over time will make this an alternative
to traditional currencies and forms of payment. We also
believe that Bitcoin may eventually become a revolutionary payment
medium and feel that early adopters and investors may well reap the
benefits of dramatic returns should that prove true."
About AlumiFuel Power
Corporation AlumiFuel Power Corporation, through its
wholly-owned subsidiary, NovoFuel, 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:
AlumiFuel Power Investor Relations: AlumiFuel Power Corporation
Henry Fong Chief Executive Officer 561-514-9042 NovoFuel Technical
Information & Marketing: Email Contact 610-660-7775
AlumiFuel Power (CE) (USOTC:AFPW)
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