PHILADELPHIA, PA--(Marketwired - Jun 4, 2013) - Early production stage hydrogen generation company AlumiFuel Power Corporation (
An unspecified NATO military customer, which purchased three PBIS-1000 systems in 2010, is now planning to procure a significant number of new operational hydrogen lift gas units within the next two years. A budget has been earmarked for this initiative, which will include hydrogen generators, fuel cartridges, training, and testing. The PBIS-1000 uses two AlumiFuel cartridges to launch 100g weather balloons.
Meanwhile, the second round of on-site training and testing of the Portable Balloon Inflation System (PBIS-2000), which was delivered to USAF Special Operations Command in January following completion of customer-specified modifications (see news release of January 8, 2013), is being delayed by funding limitations imposed by the U.S. government budget sequestration. The Company expects this situation to be resolved within the next several months. The PBIS-2000 uses six AlumiFuel Cartridges to launch 200g weather balloons.
In addition, the Company's sales representative for lift gas applications, Ed Figelman, continues to receive interest in the PBIS systems from both end-users of Hydrogen lift gas and commercial entities involved in the sales of upper air equipment. Recent examples, include various regions of NOAA/US National Weather Service, US Naval Air Systems Command, West Africa Civil Aviation Authority (ASECNA), South Africa Weather Service, as well as commercial concerns in South America, Europe, Asia, and the Middle East.
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).
AlumiFuel Power Technology's CEO, Mr. David Cade, said: "Although budget issues have delayed procurement of new lift gas systems on the part of military customers, we are beginning to see some progress in this regard, and our PBIS systems are regarded as an exciting new game-changing technology."
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
