AFPW news out AlumiFuel Power Enters Into Str
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AFPW news out
AlumiFuel Power Enters Into Strategic Business Development Agreement With New York Investment Firm
Focus Is on Commercializing Company's Unique Technology Through Strategic Partners
PHILADELPHIA, PA, Oct 26, 2012 (MARKETWIRE via COMTEX) -- Early production stage hydrogen generation company AlumiFuel Power Corporation (OTCBB: AFPW) (the "Company"), announced today that it has entered into a corporate development agreement with a New York City advisory investment firm that specializes in developing strategic partnerships and capital options for emerging growth companies with dynamic technology and growth prospects. This initiative is specifically aimed at leveraging the unique hydrogen generation technology and existing contractual opportunities of AlumiFuel Power Technologies, Inc. (the wholly owned operating subsidiary of AFPW), by securing a partner or partners with necessary resources and relationships that will advance execution of its current plans.
AlumiFuel Power Technologies, Inc. President & Chief Executive Officer, Mr. David Cade, said: "We are very enthusiastic about the possible strategic relationship options that have already been identified and are being explored, and believe this activity will give us the critical mass needed to push our novel technology and innovative products into our target markets, including backup power."
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