NovoFuel & Genport to Analyze Requirements for Development of Optimized Renewable Energy System to Support Cannabis Cultivation
April 10 2014 - 10:00AM
Marketwired
NovoFuel and Genport to Analyze Requirements for Development of
Optimized Renewable Energy System to Support Cannabis Cultivation
PHILADELPHIA, PA--(Marketwired - Apr 10, 2014) - Early
production stage hydrogen generation company, NovoFuel, Inc.
(NovoFuel), a wholly-owned subsidiary of AlumiFuel Power
Corporation (OTCQB: AFPW), announced today that it is undertaking a
detailed analysis in response to the enormous and rapidly expanding
energy requirements of cannabis growers in the U.S. and
Canada. (See AFPW news release of March 5, 2014). The analysis
is aimed at determining an optimized renewable energy systems
solution for cannabis cultivation in areas where medical marijuana
is legalized. The analysis is being done in conjunction with
Genport, srl of Italy, NovoFuel's renewable energy partner (see
AFPW news release of December 19, 2013). The two companies believe
they have all requisite technologies in-house to field a system
responsive to the needs of cannabis growers, while solving
resultant power problems of local utilities. At the present
time, marijuana growing for medicinal purposes is legalized in 20
U.S. states, and there is pending legislation to follow suit in 13
other states. Two states, Washington and Colorado, have also
legalized it for recreational purposes, and 13 other states are
considering similar legislation. Marijuana growing is
legalized throughout Canada.
This has become a major growth industry, with billions of
dollars expected to be expended over the next several
years. Growers range from mom-and-pop operations to large
greenhouse facilities. This rapid growth and energy intensive
profile have triggered a serious problem regarding the use of local
grid power to assure successful cultivation -- involving special
lights, heat, air conditioning, dehumidifiers, driers and other
ancillary equipment for indoor locations, and massive irrigation
for outdoor operations. A typical one room indoor facility can
use up to 10kW of power, which is a tremendous burden on the local
power utilities; this situation has already caused power outages
and brown-outs in certain Colorado municipalities. The most
scholarly treatment of this issue is a report written by Evan
Mills, PhD, of the University of California and the DOE: "Energy up
in Smoke: The Carbon Footprint of Indoor Cannabis Production."
(http://evan-mills.com/energy-associates/Indoor.html)
In response to this unusual set of circumstances, NovoFuel and
Genport are conducting a funded analysis to determine the optimal
configuration of renewable energy technologies and products to
handle the power requirements of marijuana cultivation. The
analysis will use sophisticated microgrid modeling tools to assess
on and off-grid applications encompassing hydrogen fuel cells,
large banks of lithium-ion batteries, solar and mini-wind power
sources -- all integrated on a real-time basis by world-class
energy management and control systems. Based on the study
output, NovoFuel / Genport plan to develop a prototype
"plug-and-play" system using NovoFuel / Genport products for
installation and testing at a pre-determined location in the
U.S. NovoFuel has established contacts in the marijuana
growing industry and related electrical energy contractors in
implementing this pilot program -- which has the potential to
become the industry standard. NovoFuel / Genport expect to
field a cost-effective solution with prices that are competitive
with traditional fossil-fuel based power systems.
The investment community has recognized the tremendous emerging
opportunity to invest in technologies and products which will
handle the burgeoning marijuana energy demands; reliance on
renewable energy sources will eliminate harmful emissions, reduce
the power load for local utilities, and lessen the need for foreign
oil. Mr. David Cade, President of NovoFuel, said: "The
cannabis growing arena represents an ideal application of the
NovoFuel / Genport hybrid alternative energy
technologies. This same solution can also be applied to the
mining and farming industries."
About NovoFuel,
Inc. NovoFuel, Inc., a wholly owned operating subsidiary of
AlumiFuel Power Corporation, 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 Corportion Tom
Olson Corporate Secretary 303-796-8940 NovoFuel Technical
Information & Marketing: Email Contact 610-660-7775
AlumiFuel Power (CE) (USOTC:AFPW)
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