NOVOFUEL
TEAM CLOSES PURCHASE OF PILOT SITE TO SHOWCASE OPTIMIZED RENEWABLE
ENERGY SOLUTION
PHILADELPHIA, PA -- April 14, 2015 -- InvestorsHub NewsWire --
NovoFuel, Inc. (“NovoFuel”), a wholly-owned operating subsidiary of
AlumiFuel Power Corporation (OTC Pink:
AFPW), announced today that the purchase of the ten acre parcel
of land in Oceana County, Michigan has closed; this is the location
for the pilot site which will demonstrate NovoFuel's hybrid
Renewable Energy Systems (RES) solution for medical cannabis grow
operations. (See NovoFuel News Release of March 12,
2015.)
The NovoFuel team will now focus on obtaining the necessary
local permits and preparing the site infrastructure for
installation of the various RES components -- patented monopole
tower (for wind turbine and site security subsystem), solar panel
array, proprietary large format 18.6kW lithium-ion battery and the
proprietary energy management & control module.
Photographs taken during the recent site survey visit can be
accessed on the AFPW website (www.alumifuelpowercorp.com).
Following completion of the permit process and the
infrastructure work, the current timeline plans call for delivery
of all RES components to the pilot site in 3Q 2015; and
installation, integration, testing and commissioning in 4Q
2015. Selected demonstrations to potential customers would
begin in late 4Q 2015.
Concurrently with the cannabis hybrid RES application showcased
at the pilot site, NovoFuel will aggressively pursue expansion into
oilfield and mining RES applications through the previously
reported partnership with Fidelity Holding Corporation ("Fidelity")
(OTC:"FDHC") and its subsidiary, Rebel Resources, Inc., which
applies proprietary new technology to extract heavy oil out of
Fidelity's mature oilfields in Kansas, and subsequently in other
oilfields worldwide. (See NovoFuel News Release of March 25,
2015.)
"We are excited about securing the pilot site land as the first
step in proving out the use of hybrid RES technology and components
to serve multiple applications requiring off-grid power and
energy.", said NovoFuel President & CEO, David Cade.
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 cannabis grow
operations. 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 Corporation
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NovoFuel, Inc.
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Thomas B. Olson, Corporate Secretary
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Technical Information & Marketing:
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303-796-8940
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info@alumifuelpowertech.com
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Investor Relations:
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South Street Media, Inc.
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Melissa Diaz
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917-937-8968
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info@southstreetmedia.com
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