AlumiFuel Power Reports Progress in Back-Up Power and Undersea Vehicle Power Applications Initiatives
May 02 2012 - 7:00AM
Marketwired
Early production stage hydrogen generation company AlumiFuel Power
Corporation (OTCBB: AFPW) (the "Company") through its subsidiaries,
announced today that discussions with key industry players in two
separate applications areas have progressed to the point where
Non-Disclosure Agreements have been signed and a detailed
assessment of requirements is underway. In both cases, the industry
players are interested in the Company's technology since it
provides viable new sources and methods of generating hydrogen.
AlumiFuel and a major back-up power company are addressing a
specific requirement for a 5kW stationary power system providing
back-up for telecommunications and medical facilities. AFPW's
technology is particularly attractive to the industry player
because: (1) the 99.99% purity of its hydrogen is ideal for feeding
fuel cells as compared with other sources of hydrogen that contain
contaminants which must otherwise be removed; and (2) the hydrogen
generation system is reliable in locations with hot or cold weather
extremes. An initial design concept has 6 large AlumiFuel
cartridges providing 19 hours of back-up power for a 5kW power
cabinet.
A major aerospace and marine systems company recently completed
a survey of "hydrogen on demand" technologies, and concluded that
the AlumiFuel system has a lot of potential for commercial undersea
vehicle applications. They believe this especially true in harsh
maritime environments such as the Arctic Ocean area, where oil and
natural gas firms are conducting ocean floor surveys for drilling,
and battery powered systems are ineffective in such extremely cold
climates. AlumiFuel and its undersea vehicle power partner,
Ingenium Technologies, are actively exploring this application with
its previously developed technology solutions for undersea
power.
The Company's Chief Technology Officer, Mr. John Boyle, said:
"These two new opportunities represent an extension of our lift gas
hydrogen generation technology and products to other addressable
applications which we believe will be major markets for AFPW going
forward."
About AlumiFuel Power Corporation AlumiFuel Power Corporation,
operating through its subsidiaries, is an early production stage
alternative energy company that generates hydrogen gas and
steam/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 feeds fuel cells for portable and back-up power; fills
inflatable devices such as weather balloons; can replace costly,
hard-to-handle and high pressure K-Cylinders; and provides fuel for
flameless heater applications. Its hydrogen/heat output is also
being designed and developed to drive fuel cell-based and
turbine-based undersea propulsion systems 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: Investor Relations: AlumiFuel Power
Corporation Thomas B. Olson Corporate Secretary 303-796-8940
Technical Information & Marketing: Email Contact
610-660-7775
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