AFPW $$ MERGER $$ ALUMIFUEL Power $ ISIN: US0222011076
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WKN: A0NDDJ $ ISIN: US0222011076 $ Symbol: AFPW
Typ: Aktie
STRONG BUY $ BULISH $ LONGTERMTARGET:3,00+US Dollars+
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http://www.alumifuelpowercorp.com/
http://investorshub.advfn.com/boards...ge_id=84783037
http://investorshub.advfn.com/Alumif...er-AFPW-15713/
Handelbar in Deutschland und USA an der NASDAQ OTC $
Handel in USA bevorzugt, da mehr UMSATZ $$
LONGTERM TARGET: 1,00 US$ + LONGTERM $ Zeitraum 4 - 6 Monate
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AlumiFuel Power and Italian Power Solutions Company, Genport, Provide Update on Merger Plans
Early production stage hydrogen generation company AlumiFuel Power Corporation (OTCBB: AFPW) (the "Company") announced today that the prospective merger of its Philadelphia-based operating subsidiary, AlumiFuel Power Technologies, Inc. (APTI), and Genport srl into a new U.S. corporate entity, NovoFuel, Inc., is proceeding according to plan (see AFPW news release of February 5, 2013). The parties are finalizing a definitive merger agreement through which each would own 50% of NovoFuel before any future financings.
The merger would combine and integrate the synergistic technologies, Intellectual Property, products, revenues, engineering staffs, manufacturing operations, marketing, sales and services activities of both companies, including a new lab facility in the Philadelphia area. The focus of NovoFuel would be to pursue and capture backup and portable power applications and business opportunities in the U.S., Europe, and other market areas -- multi-billion dollar markets.
Meanwhile, pre-merger business development efforts of both companies are proceeding at a fast pace. In 2013 Genport already has booked over $1 million in revenues associated with its hybrid power products, including lightweight solar cell modules and lithium-ion battery pack modules for off-grid energy generation, and the GEN300 Hybrid Fuel Cell, which under NovoFuel will be integrated with the AlumiFuel Power hydrogen generation system. Genport has established a customer relationship with Arrow Europe, Autostrade Spa and ENEL Group, Italy's largest power company, and a leading player in power and gas markets in 40 companies on four continents. ENEL is strongly committed to renewable energy sources, and ENEL Labs is sponsoring a $1 million competition, for which Genport has been selected as a finalist. At the same time, APTI continues to receive requests from many customers around the world for quotations regarding its PBIS (Portable Balloon Inflation System) products.
Capital raising efforts related to the prospective merger are continuing, and the parties are exploring options for conversion of NovoFuel into a new U.S. public entity at the appropriate time. Completion of this transaction is subject to further due diligence by the parties, negotiation and execution of definitive agreements, and any board of director and/or stockholder approvals that may be necessary.
AlumiFuel Power Technologies' President & CEO, Mr. David Cade, and Genport's CEO, Mr. Paolo Fracas, issued a joint statement: "We are more bullish than ever about the renewable energy technologies which will be embodied in NovoFuel, and the expansion of our target markets into other continents."
About AlumiFuel Power Corporation (
www.alumifuelpowercorp.com)
AlumiFuel Power Corporation, operating through its wholly owned subsidiary, AlumiFuel Power Technologies, Inc., is an early production stage alternative energy company that generates hydrogen gas and steam/heat through the chemical reaction of aluminum powder, 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.
About Genport srl (
www.genport.it)
Genport srl is an advanced power solutions company based near Milan, Italy. Genport is focused on providing clean, safe, reliable and high performance portable power sources for medical, defense, emergency, telecommunications, and industrial applications. Genport's solutions are designed to store and generate electrical energy anytime, anywhere. Genport combines solid hydrogen PEM fuel cell, lithium ion battery and solar cell technologies to: provide a constant, reliable source of power; maximize power and energy density; eliminate noise, emissions and operate in extreme environmental conditions. Genport/GNA's technology partners include Milan Polytechnic, Texas Instruments, Arbin Instruments, four European companies, and Purdue University.
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 Investor Relations:
AlumiFuel Power Corporation
Thomas B. Olson
Corporate Secretary
303-796-8940
Technical Information & Marketing:
Email Contact
610-660-7775
Genport srl
Via Lecco, 61
20871 Vimercate (MB) - Italy
Email Contact
+39 039 639 6500
Genport North America Corp.
1281 Win Hentschel Blvd.
West Lafayette, IN 47906
Email Contact
765-237-3393
About AlumiFuel Power Corporation (
www.alumifuelpowercorp.com)
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PHILADELPHIA, PA--(Marketwire - Feb 20, 2013) - Early production stage hydrogen generation company AlumiFuel Power Corporation ( OTCBB : AFPW ) (the "Company") announced today that the prospective merger of its Philadelphia-based operating subsidiary, AlumiFuel Power Technologies, Inc. (APTI), and Genport srl into a new U.S. corporate entity, NovoFuel, Inc., is proceeding according to plan (see AFPW news release of February 5, 2013). The parties are finalizing a definitive merger agreement through which each would own 50% of NovoFuel before any future financings.
The merger would combine and integrate the synergistic technologies, Intellectual Property, products, revenues, engineering staffs, manufacturing operations, marketing, sales and services activities of both companies, including a new lab facility in the Philadelphia area. The focus of NovoFuel would be to pursue and capture backup and portable power applications and business opportunities in the U.S., Europe, and other market areas -- multi-billion dollar markets.
Meanwhile, pre-merger business development efforts of both companies are proceeding at a fast pace. In 2013 Genport already has booked over $1 million in revenues associated with its hybrid power products, including lightweight solar cell modules and lithium-ion battery pack modules for off-grid energy generation, and the GEN300 Hybrid Fuel Cell, which under NovoFuel will be integrated with the AlumiFuel Power hydrogen generation system. Genport has established a customer relationship with Arrow Europe, Autostrade Spa and ENEL Group, Italy's largest power company, and a leading player in power and gas markets in 40 companies on four continents. ENEL is strongly committed to renewable energy sources, and ENEL Labs is sponsoring a $1 million competition, for which Genport has been selected as a finalist. At the same time, APTI continues to receive requests from many customers around the world for quotations regarding its PBIS (Portable Balloon Inflation System) products.
Capital raising efforts related to the prospective merger are continuing, and the parties are exploring options for conversion of NovoFuel into a new U.S. public entity at the appropriate time. Completion of this transaction is subject to further due diligence by the parties, negotiation and execution of definitive agreements, and any board of director and/or stockholder approvals that may be necessary.
AlumiFuel Power Technologies' President & CEO, Mr. David Cade, and Genport's CEO, Mr. Paolo Fracas, issued a joint statement: "We are more bullish than ever about the renewable energy technologies which will be embodied in NovoFuel, and the expansion of our target markets into other continents."
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AlumiFuel Power Corporation, operating through its wholly owned subsidiary, AlumiFuel Power Technologies, Inc., is an early production stage alternative energy company that generates hydrogen gas and steam/heat through the chemical reaction of aluminum powder, 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
About Genport,srl (
www.genport.it)
Genport srl is an advanced power solutions company based near Milan, Italy.. Genport is focused on providing clean, safe, reliable and high performance portable power sources for medical, defense, emergency, telecommunications, and industrial applications. Genport’s solutions are designed to store and generate electrical energy anytime, anywhere. Genport combines solid hydrogen PEM fuel cell, lithium ion battery and solar cell technologies to: provide a constant, reliable source of power; maximize power and energy density; eliminate noise, emissions and operate in extreme environmental conditions. Genport/GNA’s technology partners include Milan Polytechnic, Texas Instruments, Arbin Instruments, four European companies, and Purdue University.
AlumifuelGenport1
© 2009 Genport srl - Via Lecco 61, 20871 Vimercate (MB), Italy - PI 03174200133 - Company info
AlumiFuel Power and Italian Power Solutions Company, Genport, Announce Merger Plans
Date : 02/06/2013 @ 7:00AM
AlumiFuel Power and Italian Power Solutions Company, Genport, Announce Merger Plans
Early production stage hydrogen generation company AlumiFuel Power Corporation (OTCBB: AFPW) (the "Company"), announced today that it has signed a Term Sheet with Genport, srl of Italy, which would merge its wholly-owned Philadelphia-based operating subsidiary, AlumiFuel Power Technologies, Inc., (APTI) and Genport into a new U.S. corporate entity, NovoFuel, Inc. This initiative is the result of continuing Joint Venture discussions between the parties, as reported in the AFPW news release of November 28, 2012. This term sheet will be the basis for, and the parties are moving forward toward completion of, a definitive agreement through which both parties would own 50% of NovoFuel before any future financings.
The merger would combine and integrate the synergistic technologies, Intellectual Property, products, revenues, engineering staffs, manufacturing operations, marketing, sales and services activities of both companies, including a new lab facility in the Philadelphia area. The focus of NovoFuel would be to pursue and capture backup and portable power applications and business opportunities in the U.S., Europe, and other market areas -- multi-billion dollar markets. The new entity would pursue the engineering development of an integrated 5kW backup power system for telecom facilities.
NovoFuel would encompass the following capabilities of both companies: (1) APTI's AlumiFuel powder and cartridge-based hydrogen generation for fuel cell power, weather balloon lift gas and Unmanned Undersea Vehicle power; and (2) Genport/GNA's fuel cell power systems, hydrogen generation and storage systems, solar cells and lithium-ion battery packs. Genport's current flagship product is the G300 Hybrid Fuel Cell, a European certified 400 Watt system that can take energy inputs from hydrogen, solar panels and lithium-ion battery packs and deliver electricity for a variety of applications including military, emergency telecommunications, PCs, battery charging, electro-medical devices, and auxiliary power.
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Couple nice little excerpts from colebrooke Capital
http://www.colebrookecapital.com/
http://www.colebrookecapital.com/652.html
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The next steps in the merger process include executing the definitive Merger Agreement, completing the capital raising effort already underway by Colebrooke Capital Ventures of New York City, and converting NovoFuel into a public entity at the appropriate time.
AlumiFuel Power Technologies' President & CEO, Mr. David Cade, said: "NovoFuel would be a true alternative energy company with global reach, and we are excited about introducing customers around the world to the advanced energy capabilities of this new company."
Genport's Chief Executive Officer, Mr. Paolo Fracas, said: "NovoFuel will offer significant new power solutions for portable electronics, backup power, and micro-grid users. The introduction of our new multi-technology, extended run-time fuel cells for various critical mission applications will offer tremendous new market opportunities for us."
Completion of this transaction is subject to, among other things, further due diligence by the parties, negotiation and execution of definitive agreements, and any board of director and/or stockholder approvals that may be necessary.
About AlumiFuel Power Corporation (
www.alumifuelpowercorp.com)
AlumiFuel Power is a Philadelphia-based early production stage alternative energy company that generates hydrogen gas and steam for multiple niche applications requiring on-site, on-demand fuel sources. AlumiFuel Power's hydrogen drives fuel cells for back-up, portable and remote power, fills inflatable devices such as weather balloons, and can replace costly, hard-to-handle and high pressure K-Cylinders; the steam/hydrogen combination also drives turbine-based underwater propulsion systems and auxiliary power systems.
Website:
http://www.alumifuelpowercorp.com/
Phone: (303) 796-8940
Pinksheets:
http://www.otcmarkets.com/stock/AFPW/company-info
Share Structure on Pinksheets: O/S 2'123'847'187 a/o August 1 , 2012
Insider Ownership: Perkins Capital Management holds 38,220,410 common
AlumiFuel Power Corporation, operating through its wholly owned subsidiary, AlumiFuel Power Technologies, Inc., is an early production stage alternative energy company that generates hydrogen gas and steam/heat through the chemical reaction of aluminum powder, 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
About Genport,srl (
www.genport.it)
Genport srl is an advanced power solutions company based near Milan, Italy. Genport is focused on providing clean, safe, reliable and high performance portable power sources for medical, defense, emergency, telecommunications, and industrial applications. Genport's solutions are designed to store and generate electrical energy anytime, anywhere. Genport combines solid hydrogen PEM fuel cell, lithium ion battery and solar cell technologies to: provide a constant, reliable source of power; maximize power and energy density; eliminate noise, emissions and operate in extreme environmental conditions. Genport/GNA's technology partners include Milan Polytechnic, Texas Instruments, Arbin Instruments, four European companies, and Purdue University.
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 Investor Relations:
AlumiFuel Power Corporation
Thomas B. Olson
Corporate Secretary
303-796-8940
Technical Information & Marketing:
Email Contact
610-660-7775
Genport srl
Via Lecco, 61
20871 Vimercate (MB) - Italy
Email Contact
+39 039 639 6500
Genport North America Corp.
1281 Win Hentschel Blvd.
West Lafayette, IN 47906
Email Contact
765-237-3393
Early production stage hydrogen generation company AlumiFuel Power Corporation (OTCBB: AFPW) (the "Company"), announced today that it has signed a Term Sheet with Genport, srl of Italy, which would merge its wholly-owned Philadelphia-based operating subsidiary, AlumiFuel Power Technologies, Inc., (APTI) and Genport into a new U.S. corporate entity, NovoFuel, Inc. This initiative is the result of continuing Joint Venture discussions between the parties, as reported in the AFPW news release of November 28, 2012. This term sheet will be the basis for, and the parties are moving forward toward completion of, a definitive agreement through which both parties would own 50% of NovoFuel before any future financings.
http://ih.advfn.com/p.php?pid=nmona&...66167&symbol=…
DGAP-News: AlumiFuel Power International Inc.: ALUMIFUEL POWER ERHÄLT EINEN VERTRAG VON DER US AIR FORCE FÜR MODIFIKATIONEN AM PBIS-2000 WASSERSTOFF-LIFTGAS-GENERATOR (deutsch)
26.09.12 06:01
dpa-AFX
AlumiFuel Power International Inc.: ALUMIFUEL POWER ERHÄLT EINEN VERTRAG VON DER US AIR FORCE FÜR MODIFIKATIONEN AM PBIS-2000 WASSERSTOFF-LIFTGAS-GENERATOR
DGAP-News: AlumiFuel Power International Inc. / Schlagwort(e): Umsatzentwicklung AlumiFuel Power International Inc.: ALUMIFUEL POWER ERHÄLT EINEN VERTRAG VON DER US AIR FORCE FÜR MODIFIKATIONEN AM PBIS-2000 WASSERSTOFF-LIFTGAS-GENERATOR
26.09.2012 / 06:00
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ZUR SOFORTIGEN VERÖFFENTLICHUNG
ALUMIFUEL POWER ERHÄLT EINEN VERTRAG VON DER US AIR FORCE FÜR MODIFIKATIONEN AM PBIS-2000 WASSERSTOFF-LIFTGAS-GENERATOR
Nach Abschluss der Modifikationen wird die Einheit an den Kunden zurückgegeben
PHILADELPHIA, Pennsylvania, 26. September 2012. - Die Firma AlumiFuel Power Corporation (OTCBB: AFPW) (die 'Firma'), ein aufstrebendes Unternehmen für Wasserstofferzeugungsanlagen, kündigte heute durch ihre in den USA tätige Tochtergesellschaft an, dass sie einen Kaufvertrag vom U.S. Air Force Special Operations Command, einer Spezialabteilung der US-Luftwaffe, erhalten hat, um gewissen Modifikationen am Prototyp der tragbaren Ballon-Befüllungs-Anlage PBIS-2000 durchzuführen, der im Rahmen eines Vertrages Ende April 2012 geliefert und bezahlt wurde.
Nach einem Vor-Ort-Training in Florida durch Ingenieure von AlumiFuel Power haben die Anwender bei der Luftwaffen-Spezialeinheit zusätzliche Tests des Prototyps durchgeführt. Diese Mitarbeiter der Air Force haben in enger Zusammenarbeit mit der Firma 14 Punkte identifiziert, an denen die Funktionalität und die Bedienerfreundlichkeit der Einheit im Einsatz verbessert und erweitert werden kann. Die Einheit wurde für die Modifikationen an die Firma AlumiFuel zurückgeschickt. Nach Beendigung der Modifikationen im 4. Quartal 2012 wird diese Prototyp-Einheit an die Air Force zurückgegeben für weitere Tests und den Einsatz bei Feldversuchen in Übersee. Wenn die Feldversuche abgeschlossen sind, erwartet die Firma Aufträge für Produktionsanlagen des PBIS-2000 Wasserstoff-Liftgas-Generators und der AlumiFuel-Kartuschen von der US Air Force und anderen potentiellen Kunden weltweit. Der PBIS-Marketingleiter von AlumiFuel Power, Ed Figelman (siehe AFPW-Pressemitteilung vom 12. September 2012) hat von potentiellen Kunden überall auf der Welt zahlreiche Anfragen über die PBIS-2000 erhalten.
Der derzeitige Markt für Wetterballon-Liftgase wird auf 200 Millionen US$ pro Jahr geschätzt und umfasst sowohl militärische als auch zivile öffentliche Anwender im Bereich Meteorologie weltweit. Traditionell wurde Helium als Hauptliftgas für Wetterballons verwendet, aber mit zunehmender Heliumknappheit und höheren Preisen steigen die Anwender schnell auf Wasserstoff um, und die PBIS-Baureihe des Unternehmens ist sehr viel mobiler, sicherer und kostengünstiger als andere Vor-Ort-Anlagen für die Erzeugung von Wasserstoff. Nach dem Kauf einer Anlage aus der PBIS-Reihe würden typische Kunden immer wieder Ersatzkartuschen für den Start von bis zu 700 Ballons jährlich pro Einheit (bis zu 4.200 Kartuschen) kaufen.
David Cade, der Präsident und Geschäftsführer von AlumiFuel Power Technologies, Inc., der operativen Tochtergesellschaft von AFPW, sagte: 'Die Tests des PBIS-2000-Prototyps durch die Air Force Special Operations und ihre bekannten Verbesserungen an der Einheit bekräftigen die Einzigartigkeit der Technologie von AlumiFuel Power und die Überlegenheit der PBIS-Liftgas-Anlagen im Vergleich zu anderen Wasserstoff-Liftgas-Verfahren und -Produkten.'
Über AlumiFuel Power Corporation Die Firma AlumiFuel Power Corporation, in den USA tätig durch ihre operative Tochter, AlumiFuel Power Technologies Inc., ist ein aufstrebendes Unternehmen für alternative Energien, insbesondere für die Erzeugung von Wasserstoffgas und Wärme durch die chemische Reaktion von Aluminium, Wasser und firmeneigenen Additiven. Diese Technologie ist ideal geeignet für zahlreiche Anwendungen, bei denen Energiequellen vor Ort und bei Bedarf benötigt werden, sie bedient die National Security und kommerzielle Kunden. Durch die Wasserstofferzeugung der Firma werden Brennstoffzellen für Notstrom- und tragbare Stromversorgungen angetrieben, sie liefert Liftgas für Wetterballons und kann kostspielige, schwierig zu handhabende und unter Druck stehende K-Zylinder ersetzen. Die Wasserstoff-/Wärme-Produktion ist ebenfalls gedacht und entwickelt als Antrieb für Unterwasserantriebe auf Brennstoffzellen- und Turbinenbasis sowie für Hilfsstromversorgungen. Das Unternehmen besitzt wesentliche Unterscheidungsmerkmale bei der Leistung, Anpassungsfähigkeit, Sicherheit und Kostengünstigkeit in seinen Zielmarktanwendungen. Eine externe Energiequelle ist nicht nötig, und es gibt keine giftigen Chemikalien oder Nebenprodukte.
'Safe Harbor' für zukunftsbezogene Aussagen Diese Pressemitteilung kann zukunftsbezogene Aussagen enthalten, die gemäß den 'Safe Harbor'-Bestimmungen des US-amerikanischen Private Securities Litigation Reform Act von 1995 gemacht wurden. Obwohl diese Aussagen gemacht werden, um der Öffentlichkeit die Fortschritte, Geschäftsmöglichkeiten und Wachstumsaussichten des Unternehmens mitzuteilen, beruhen sie auf den derzeitigen Überzeugungen und Annahmen der Geschäftsleitung, was zukünftige Ereignisse betrifft. Da die Geschäfte und Geschäftsaussichten des Unternehmens jedoch immer Risiken und Unwägbarkeiten unterliegen, ist es möglich, dass die zukunftsbezogenen Ereignisse und Umstände, von denen in dieser Pressemitteilung die Rede ist, nicht eintreten, und tatsächliche Ergebnisse können wesentlich von den hier beschriebenen, vorhergesagten oder angedeuteten abweichen. Genauere Erläuterungen dieser Risiken und Unwägbarkeiten entnehmen Sie bitte den Unternehmensunterlagen, die bei der US Securities and Exchange Commission hinterlegt sind.
ANSPRECHPARTNER:< /B> ^
Investor Relations: Technische Informationen & Marketing: AlumiFuel Power Corporation
info@alumifuelpowertech.com Thomas B. Olson, Corporate Secretary 303-796-8940
Ende der Corporate News
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DGAP-News: AlumiFuel Power International Inc.: ALUMIFUEL POWER ERHÄLT EINEN VERTRAG VON DER US AIR FORCE FÜR MODIFIKATIONEN AM PBIS-2000 WASSERSTOFF-LIFTGAS-GENERATOR (deutsch)
http://www.aktiencheck.de/news/Artik...s_AlumiFuel_P…
26.09.2012 Veröffentlichung einer Corporate News/Finanznachricht, übermittelt durch die DGAP - ein Unternehmen der EquityStory AG. Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich.
Die DGAP Distributionsservices umfassen gesetzliche Meldepflichten, Corporate News/Finanznachrichten und Pressemitteilungen. Medienarchiv unter
http://www.dgap-medientreff.de und
http://www.dgap.de
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186469 26.09.2012
AlumiFuel Power Signs Technology Cooperation Agreement With Multinational Hybrid Power Sources Company
Date : 11/28/2012 @ 8:00AM
Early production stage hydrogen generation company AlumiFuel Power Corporation (OTCBB: AFPW) (the "Company"), announced today that its wholly owned operating subsidiary, Philadelphia-based AlumiFuel Power Technologies, Inc., has signed a Technology Development Agreement with Genport North America (GNA), the U.S. subsidiary of the Italian hybrid power sources company, Genport srl.
http://ih.advfn.com/p.php?pid=nmona&...16291&symbol=…
AlumiFuel Power Signs Technology Cooperation Agreement With Multinational Hybrid Power Sources Company
Early production stage hydrogen generation company AlumiFuel Power Corporation (OTCBB: AFPW) (the "Company"), announced today that its wholly owned operating subsidiary, Philadelphia-based AlumiFuel Power Technologies, Inc., has signed a Technology Development Agreement with Genport North America (GNA), the U.S. subsidiary of the Italian hybrid power sources company, Genport srl.
The provisions of the TCA include the establishment of a U.S.-based Joint Venture (JV) which would combine and integrate the technologies, Intellectual Property, products, revenues, engineering staffs, manufacturing operations, marketing, sales and services activities of both companies. The focus of the JV is to synergistically pursue and capture backup and portable power applications and business opportunities in the U.S., Europe, and other market areas -- multi-billion dollar markets. The JV would encompass the following capabilities of both companies: (1) APTI's AlumiFuel powder and cartridge-based hydrogen generation for fuel cell power, weather balloon lift gas and Unmanned Undersea Vehicle power; and (2) Genport/GNA's fuel cell power systems, hydrogen generation and storage systems, solar cells and lithium-ion battery packs. Genport/GNA's current flagship product is the G300 Hybrid Fuel Cell, a CE marked 400 Watt system that can take energy inputs from hydrogen, solar panels and lithium-ion battery packs and deliver electricity for a variety of applications including military, emergency, telecommunications, PCs, battery charging, electro-medical devices, stationary micro-grids, and auxiliary power.
In accordance with the JV, the two companies would commit to the engineering development of an integrated 5kW backup power system for telecom facilities, using APTI's hydrogen generation technology to provide the fuel for GNA's fuel cell power systems, also in conjunction with GNA's other renewable power sources. Smaller scale units (300W-1kW) based on the existing G300 Hybrid Fuel Cell would also be developed for emergency services/first responder applications aimed at natural disasters, homeland security, anti-terrorist operations, and dismounted soldiers. The fielding of such backup and portable power systems would help ease the severity of telecommunications power outages such as those recently experienced during Superstorm Sandy in the Northeastern U.S.
AlumiFuel Power Technologies' President & CEO, Mr. David Cade, said: "We are very excited and enthusiastic about establishing this partnership arrangement. The powerful and synergistic combination of technologies provides a tremendous new launch pad into a variety of advanced alternative energy applications and products that will have worldwide applicability."
GNA's Chief Executive Officer, Mr. Paolo Fracas, said: "We are establishing a unique partnership in the US as well as in Europe, and I believe our collaboration will have a relevant impact for the rest of the world. Portable electronics and micro-grids users are strongly demanding power solutions which the integration of GNA and APTI technologies make possible. Going forward, introducing our new combined power extended run-time fuel cells for various critical mission applications offers tremendous new market opportunities for us."
About AlumiFuel Power Corporation (
www.alumifuelpowercorp.com)
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US AIR FORCE NEWS!
PHILADELPHIA, PA--(Marketwire -10/06/11)- Early production stage hydrogen generation company AlumiFuel Power, Inc. ("API"), the Philadelphia, Pennsylvania-based wholly owned operating subsidiary of AlumiFuel Power Corporation (OTC.BB: AFPW.OB - News) (the "Company"), announced today it has been awarded a contract to deliver a PBIS-2000 Portable Balloon Inflation System to the Air Force Special Operations Command (AFSOC). The Company believes that this initial purchase will lead to additional units for operations throughout the world. In addition, the Company has been approached by other military and meteorological users from the US, NATO, and around the world interested in the Portable Balloon Inflation System technology and products.
This contract requires delivery of the system to the AFSOC customer by the end of February 2012, and includes 360 cartridges as well as a spare parts kit, a tool kit and two days of training by API engineers at the customer's site.
David Cade, President & CEO
17 years as executive in alternative energy field
15 years experience as successful CEO, 14 years in public companies
Brought lithium battery company to commercial production
Previous management positions with AT&T, Martin Marietta, COMSAT and DoD
John Boyle, CTO
One of nation's foremost experts in industrial gas applications, systems design, engineering, safety and innovative technologies/products
Over 30 years experience in industrial gas industry - 18 years with Air Products in various engineering, and executive capacities
Natural Gas and Hydrogen industry safety codes based on his analyses & designs
Law practice focused on high tech commercial transactions worldwide
Significant experience in IP matters, strategic partnerships, capital raising,technology licensing, and day-to-day business operations
Michael McAllister, EVP
Law practice focused on high tech commercial transactions worldwide
Significant experience in IP matters, strategic partnerships, capital raising,technology licensing, and day-to-day business operations
The PBIS-2000 expands the capability of API's current family of hydrogen generators, which includes the PBIS-1000 (for 100g balloons) and the PBIS-lite (designed for 30g pieball balloons). The PBIS-2000 generates sufficient hydrogen to inflate a 200g weather balloon within 20 minutes using up to 6 AlumiFuel Cartridges contained in a single reactor vessel; this represents significantly more hydrogen than is required for the PBIS-1000. While the footprint, weight and safety features of the PBIS-2000 are similar to the PBIS-1000, the configuration has been modified such that the system operates at ambient (atmospheric) pressure (below 10 psig) so that the user never has to deal with a high pressure system such as the industry standard K-Cylinder (2265 psig).
The current weather balloon lift gas market is pegged at $150-$200 million per year, and encompasses military as well as civil government meteorological users worldwide. Traditionally, helium has been used as the primary lift gas for weather balloons, but with the increasing scarcity and cost of helium, users are rapidly switching to hydrogen and API's PBIS family is far more mobile, safe, and cost effective than other on-site hydrogen generation systems. Based on customer feedback, API believes the PBIS family can become field standard and lift gas product of choice for NATO military users and meteorological customers worldwide. After purchasing any unit of the PBIS family, typical customers continue to purchase replacement cartridges to launch up to 700 balloons per unit each year (up to 4,200 cartridges).
API's President & CEO, Mr. David Cade, said, "This Air Force award validates API's unique Portable Balloon Inflation System technology and products. The PBIS-2000 is a significant addition to our PBIS family. Not only does this system fill an existing gap for much larger weather balloons, which constitute a greater portion of the market, but it represents a significant advancement in the state of hydrogen generation technology. The greatest inhibitor to launching weather balloons in remote locations -- where the military operates and considerable meteorological research is done -- is the cost and difficulty of transporting the source of lift gas. The PBIS family will drastically reduce these factors, and enable launches in previously inaccessible areas worldwide; this also creates a logistics supply chain for hydrogen to power fuel cells in the field."
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AlumiFuel Power Corporation, operating through its wholly owned subsidiary, AlumiFuel Power Technologies, Inc., 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.
About Genport/GNA (
www.genport.it)
Genport srl is an alternative energy advanced power solutions company based nearby Milan, Italy, with a U.S. subsidiary, Genport North America Corp. (GNA), located in West Lafayette, Indiana. Genport/GNA is focused on providing clean, safe, reliable and high performance portable power sources for medical, defense, emergency, telecommunications, and industrial applications. Genport/GNA's solutions are designed to store and generate electrical energy anytime, anywhere. Genport combines solid hydrogen PEM fuel cell, lithium ion battery and solar cell technologies to: provide a constant, reliable source of power; maximize power and energy density; eliminate noise, emissions and operate in extreme environmental conditions. Genport/GNA's technology partners include Milan Polytechnic, Texas Instruments, Arbin Instruments, four European companies, and Purdue University.
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 Investor Relations:
AlumiFuel Power Corporation
Thomas B. Olson
Corporate Secretary
303-796-8940
Technical Information & Marketing:
Email Contact
ABOUT ALUMIFUEL POWER - AFPW
Incorporated in May 2008 to commercialize unique IP for high-demand military & commercial applications
ab and offices in Philadelphia Science Center
Philadelphia area is center of US hydrogen industry
Leverage Drexel University nanotechnology capabilities
Access to top technical talent
Solid IP portfolio - patent filings and proprietary know-how for chemistry, cartridge design and applications World Class path-to-market & production partners
AlumiFuel Power International, Inc. (Same management team as API)
Formed February 2010
International marketing & IP
European capital raise in process
Other new market initiatives planned in U.S. & Europe
API is a unique alternative energy company that generates hydrogen gas and steam/heat for multiple applications
Our hydrogen feeds fuel cells for electrical power
Our hydrogen and steam drive undersea propulsion systems
Our hydrogen inflates weather balloons
Our powder mix is ideal for flameless heating devices
API's novel technology is based on the exothermic chemical reaction of aluminum, water and proprietary additives
We are the first company to successfully commercialize this technology - product purchased by customers
We provide "DRY HYDROGEN"
Ours is an enabling technolog
Delivers 5-10X the energy density (runtime) of lithium batteries
Facilitates new power applications with fuel cells & turbines - billion dollar markets
Our only competition are batteries and gasoline-fueled generators
http://otcshortreport.com/index.php?...PW&action=view
INGENIUM TECHNOLOGIES - API's PORTABLE POWER PARTNER Turbine Power Systems - Up to 750 kW
Energy Recovery
Soar
Aerospace
Hybrid
Systems Design and Analysis Hybrid Power System Conversion Elements
Battery
Fuel Cells
Turbo-Electric or Mechanical Thermal Engines(Rankine, Brayton, Stirling)
IC Engine
Isot
Thermo-Electric
Thermal Heating (Energy Recovery)
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STRONG BUY $ BULISH $ LONGTERMTARGET:3,00+US Dollars+
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AFPW $$ MERGER $$ ALUMIFUEL Power $ ISIN: US0222011076 $$$
... aha ....
