AFPW AlumiFuel Power Corporation (CE)

NOVOFUEL EXPANDS ITS INITIATIVES IN PURSING RENEWABLE ENERGY SOLUTIONS FOR THE HUGE CANNABIS GROW MARKET

Philadelphia, PA - January 28, 2015 - InvestorsHub NewsWire - NovoFuel, Inc. (“NovoFuel”), a wholly-owned subsidiary of AlumiFuel Power Corporation (OTC Pink: AFPW), announced today that it has been approached by several entities interested in the company's Renewable Energy System (RES) solutions for the cultivation of legal medical cannabis.  (See NovoFuel news release of October 15, 2014).  These new opportunities afford the potential for a more rapid penetration of this huge market. 

As previously mentioned, NovoFuel's hybrid RES solutions include off-the-shelf solar, wind, lithium-ion battery, and hydrogen fuel cell power, as well as integrated energy management & control, and site security.  At this point, NovoFuel is weighing the comparative advantages of several different pilot site locations in Michigan, with a decision expected in early 2015 based on securing an ideal site for showcasing the RES components in the NovoFuel design.

Two of the entities that have contacted NovoFuel are seeking off-grid power capabilities for very large cannabis grow facilities (40,000-50,000 sq. ft.) in the Midwest and Colorado.  Standard grid power to provide up to 3mW for these facilities can cost a minimum of $500,000 per year, and this does not include the cost of backup power to assure uninterruptible cultivation of the sensitive plants. NovoFuel is exploring various scalable hybrid RES configurations and phased implementation to reach these power levels, which go well beyond the 10kW size of the planned NovoFuel pilot site in Michigan.  These entities are well-financed, and the use of renewable energy technologies and systems is very important to them.  NovoFuel is actively engaged in a dialogue with both parties. 

Any NovoFuel involvement with these larger cannabis cultivation facilities would provide a stronger business base sooner, with volume purchasing of the RES components and more cost effective RES solutions for customers.  (See the October 15, 2014 news release for comparative costs of renewable energy, grid power, and diesel generator backup power.) 

In addition, NovoFuel is discussing various collaboration scenarios with an engineering company that has patented technologies and products (including advanced solar power systems) which could enhance NovoFuel's hybrid RES solutions.  NovoFuel also has been approached by a company in the broader energy industry interested in expanding its reach into the renewable energy sector through a Joint Venture relationship; discussions are underway. The NovoFuel team's close connections with growers in several states is important in validating those specific advanced technologies and products which can best augment and upgrade its RES solutions. 

“These initiatives signal our aggressive approach in seeking to extend our footprint in the rapidly expanding cannabis grow market,” said Mr. David Cade, President and CEO of NovoFuel."

About NovoFuel,Inc.

NovoFuel, Inc., a wholly owned operating subsidiary of AlumiFuel Power Corporation, is an early production stage renewable 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.  In addition, NovoFuel has embarked on a new initiative to design and field hybrid renewable energy solutions for medical marijuana cultivation.  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.

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