NOVOFUEL'S ADVANCED HIGH CAPACITY LITHIUM-ION BATTERIES READY
FOR NATIONWIDE MARKETS
PHILADELPHIA, PA -- April 26, 2016 -- InvestorsHub NewsWire
-- NovoFuel, Inc. (NovoFuel), a wholly-owned operating
subsidiary of AlumiFuel Power Corporation (OTC Pink: AFPW),
announced today that the first two of its high capacity lithium-ion
battery products are now in production and will be available for
purchase by customers shortly. (See NovoFuel news release of
November 19, 2015).
Through NovoFuel's world-class partners, Lithium Battery
Engineering, LLC (www.lithiumbatteryenginering.com) and Custom
Electronics, Inc. (www.customelec.com), state-of-the-art high
capacity lithium-ion batteries are now being produced under the
NovoFuel brand in response to rapidly expanding backup and portable
power market opportunities. NovoFuel's custom lithium-ion product
line includes a 2.5kWh 24V battery, a 3.5kWh 48V battery, and a
5kWh-7.5kWh 48V battery. The first product is the 2.5kWh battery --
available for customer orders in high power and high energy
versions. Photos and technical specifications of these batteries,
along with ordering information, will be posted shortly on the
AlumiFuel Power website (www.alumifuelpowercorp.com).
The NovoFuel batteries can be used for numerous portable and
backup power applications. Portable applications include
first-responder, military mission-critical field operations, job
sites, and camping. For backup power applications, NovoFuel will
market the batteries as a stand-alone product, and as part of our
overall hybrid RES solution strategy. This is a huge and rapidly
growing market, as there is increasing global recognition of the
role of large lithium-ion batteries for energy storage as a backup
power source. According to a 2015 forecast by Lux Research, the
stationary energy storage market will climb from $1.5 billion in
2016 to $6.5 billion in 2020.
Target market applications include: small business & home
backup and supplemental power; telecom cell sites; rapidly
expanding and power-hungry legal cannabis grow operations; medical
device emergency power; new technology LED streetlights now being
installed in many municipalities; and a variety of outdoor and
remote applications where grid power is unavailable or insufficient
-- including farming, mining, construction sites and oilfield
operations, as well as rural and remote off-grid electrification
needs in developing countries.
"NovoFuel batteries have a strong value proposition vis--vis the
competition", said NovoFuel President and CEO, David Cade. "We are
very excited to be entering such a large and growing marketplace
with this new generation of reliable, safe, long-life, high
capacity lithium-ion batteries. This is a game-changer for the
backup power market," concluded Cade.
About NovoFuel, Inc.
NovoFuel, Inc., a wholly owned operating subsidiary of AlumiFuel
Power Corporation, is a renewable energy company in the late
development/early production stage which applies advanced energy
technologies to replace fossil-fuel based systems for a wide
variety of backup, emergency, and portable power applications.
NovoFuel's patented and proprietary in-house technology generates
hydrogen gas through the chemical reaction of aluminum powder,
water, and proprietary additives. This technology can feed fuel
cells for backup power; provide lift gas for weather balloons;
replace costly, hard-to-handle and high pressure K-Cylinders; and
power unmanned undersea vehicles. NovoFuel is also pursuing a
number of hybrid Renewable Energy Systems (RES) opportunities.
Target market applications include small business & home backup
power, telecom cell sites, power-hungry medical cannabis grow
operations, and a variety of outdoor applications where grid power
is unavailable or insufficient -- including farming, mining,
construction sites, and oilfield operations, as well as rural and
remote off-grid electrification needs in developing countries.
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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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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