PHILADELPHIA, PA--(Marketwired - May 30, 2013) - Early production stage hydrogen generation company AlumiFuel Power Corporation (
The large and growing U.S. back-up power market, traditionally served by lead-acid batteries and gasoline or diesel generators, is increasingly adopting hydrogen PEM fuel cell systems to replace these earlier technologies. The size of this market is enormous and growing -- $6.4 billion today for the emergency response segment (police, fire, medical, disaster preparedness) and an even larger multi-billion dollar segment for the telecom and financial services industries.
U.S. wireless telecom carriers are continuing to expand the use of hydrogen fuel cells for 5kW backup power systems. As of early 2012, over 1,100 fuel cells had been installed at cell phone tower sites, most of which are 5kW systems. One large carrier, which enjoys strong support from the Department of Energy, in particular has expressed keen interest in the AlumiFuel cartridge-based technology as a superior hydrogen generation and storage solution for feeding fuel cells that back up their 5kW rooftop cell towers. This carrier and the Company are continuing to discuss options for fielding the AlumiFuel hydrogen generation technology. According to industry sources, the four major U.S. wireless carriers have approximately 75,000 rooftop tower installations -- 20% of which (15,000) will ultimately use hydrogen fuel cells, and 8% of which (6,000) is a reasonable target for using the AlumiFuel hydrogen generation system. The four carriers also have approximately 205,000 ground-based tower sites; applying the same 8% capture rate for the AlumiFuel technology amounts to 16,400 sites. Large additional U.S. applications for 5kW backup power fuel cells, including the power transmission industry (205,000 sites) and financial & general industry (50,000 sites), provide another 20,000 target sites for AlumiFuel Power. These numbers do not include the emerging market for new "green home" backup power, which could in time become the largest market of all.
Likewise, telecom and other users in Europe, Asia, Africa and Latin America are actively pursuing the development and fielding of 5kW fuel cell power systems to supplement or take the place of grid power for a variety of applications. This is a multi-billion dollar worldwide market encompassing many hundreds of thousands of telecom towers requiring 5kW fuel cell primary (60%) or backup (40%) power systems.
AlumiFuel Power Technology's CEO, Mr. David Cade, said: "AlumiFuel Power is on track to penetrate this enormous global market with fuel cell partners and end-user customers who recognize the advantages of our hydrogen generation system over other hydrogen fuel sources."
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; and can replace costly, hard-to-handle and high pressure K-Cylinders. 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: AlumiFuel Power Investor Relations: AlumiFuel Power Corporation Thomas B. Olson Corporate Secretary 303-796-8940 Technical Information & Marketing: Email Contact 610-660-7775
