PHILADELPHIA, PA--(Marketwire - Jan 8, 2013) - Early production stage hydrogen generation company AlumiFuel Power Corporation (OTCBB: AFPW) (the "Company"), through its U.S operating subsidiary, AlumiFuel Power Technologies, Inc., announced today that it has completed the modifications on the Portable Balloon Inflation System (PBIS)-2000 under contract, and has shipped the unit back to the US Air Force Special Operations Command (see AFPW news release of September 24, 2012).
This PBIS-2000 prototype unit was delivered to the Air Force in late April, 2012. Following several months of on-site testing, Air Force Special Operations users, in close collaboration with the Company, identified 14 items to improve and upgrade the functionality and user-friendliness of the unit in the field. After receiving the modified unit, the Air Force customer intends to conduct further testing and deployment for field trials in an overseas environment. Once the field trials are completed, the Company anticipates orders for production versions of the PBIS-2000 hydrogen lift gas generator and AlumiFuel cartridges from the Air Force and other potential customers worldwide. AlumiFuel Power's PBIS marketing lead, Mr. Ed Figelman (see AFPW news release of Sep 12, 2012), has received numerous queries about the PBIS-2000 from potential customers around the world.
The current weather balloon lift gas market is estimated to be $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 the Company's PBIS family is far more mobile, safe, and cost effective than other on-site hydrogen generation systems. After purchasing any unit of the PBIS family, typical customers would continue to purchase replacement cartridges to launch up to 700 balloons per unit each year (up to 4,200 cartridges).
Mr. David Cade, President & CEO of AlumiFuel Power Technologies, Inc., said: "We are pleased to return this unique prototype unit to the Air Force for further field testing. The modifications clearly improved the operating functionality and capability of the system, and these changes will be incorporated in a more streamlined design for follow-on PBIS-2000 production units."
About AlumiFuel Power Corporation
AlumiFuel Power Corporation, through its U.S. operating subsidiary, AlumiFuel Power Technologies, Inc., is an early production stage alternative energy company that generates hydrogen gas and 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 generation feeds fuel cells for backup and portable power, provides lift gas for weather balloons, and can replace costly, hard-to-handle and high pressure K-Cylinders. Its hydrogen/heat output is also being designed and developed to power fuel cell-based and turbine-based undersea propulsion 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.
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