CENTENNIAL, CO -- August 15, 2016 -- InvestorsHub NewsWire
-- AlumiFuel Power Corporation (OTCPink: AFPW) (AlumiFuel or
the Company), announced today that its board of directors has
approved a plan for the Company to enter into the over $100 billion
dollar staffing industry through formation of its wholly owned
subsidiary, Energy Staffing Solutions, Inc. (ESS).
ESS is presently in discussions with several entities regarding
potential acquisition and/or collaboration opportunities. The ESS
plan for the establishment and growth of its business is
anticipated to include several strategies including collaborations,
acquisitions and a general roll-up approach as well as eventual
organic growth.
"We see the staffing function being a synergistic complement to
AlumiFuel's wholly owned subsidiary NovoFuel, Inc., which continues
to pursue hybrid renewable energy systems solutions for a variety
of off-grid power applications," said AlumiFuel Chief Executive
Officer, Henry Fong. "In a concurrent initiative, we are pursuing
the consolidation of certain of AlumiFuels convertible debt as this
will be an important element in future financing considerations for
potential acquisitions. We will be advising our stockholders
further as these actions move forward and materialize," concluded
Mr. Fong.
About AlumiFuel Power Corporation
AlumiFuel Power Corporation, operating through its wholly owned
subsidiary, NovoFuel, Inc., is an early production stage
alternative energy company that is pursuing hybrid renewable energy
systems for a number of backup power applications. The NovoFuel
brand includes a new line of high capacity lithium-ion batteries as
well as patented and proprietary technology that generates hydrogen
gas through the chemical reaction of aluminum powder, water, and
proprietary additives.
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 companys progress, business
opportunities and growth prospects, they are based on managements
current beliefs and assumptions as to future events. However, since
the companys 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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Henry Fong, Chief Executive Officer
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561-514-9042
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