AlumiFuel Power Corp. Annnounces Formation of Specialized Energy Applications Group to Target Commercialization Opportunities...
05 März 2014 - 2:30PM
Marketwired
AlumiFuel Power Corporation Annnounces Formation of Specialized
Energy Applications Group to Target Commercialization
Opportunities; Initial Focus Will Be on Commerical Marijuana
Cultivation Opportunities
CENTENNIAL, CO--(Marketwired - Mar 5, 2014) - Early production
stage hydrogen generation company AlumiFuel Power Corporation
(OTCQB: AFPW) (AlumiFuel or the "Company") announced today that it
has formed a Specialized Energy Applications Group ("SEAG"), to
target commercialization opportunities. SEAG's initial focus
will be on commercial marijuana cultivation operations.
Cannabis growth facilities require large amounts of
energy. A 2011 study on energy use in the industry shows that
the energy consumption will be over 1% of national electricity
consumption and create greenhouse gas pollution equivalent to that
of 3 million automobiles. This can expect to increase as the
industry becomes more fully developed.
Some communities have already taken steps to require cannabis
grow operations to be powered by renewable energy sources to lessen
the industry's carbon footprint. As the state of Colorado
moves forward and the state of Washington gears up for the launch
of recreational marijuana programs, and as Canada implements the
Marijuana for Medical Purposes Regulations (MMPR) program,
warehouses and secure indoor gardening facilities are expanding
operations to meet the industry's expected growth.
There are approximately 735 medical marijuana cultivation
facilities in Colorado according to the Colorado Medical Marijuana
Enforcement Division (MED). In November 2013, the Washington
State Liquor Board issued a ruling to limit the total amount of
growing space to 2 million square feet statewide, of which a good
portion will be outdoors and in greenhouses. Canada's new
program restricts cultivation strictly to indoor facilities that
are highly energy intensive.
SEAG intends to sponsor a feasibility study to evaluate and
determine the best renewable energy solutions for these
applications that NovoFuel's hydrogen generation technology could
provide. NovoFuel, through its many energy industry partners, will
seek the best combination of advanced energy technologies to
configure modular, reliable off-grid hydrogen power units; these
backup/auxiliary power generators will encompass hybrid fuel cells
using NovoFuel-generated hydrogen, lithium batteries, photovoltaic
systems and real-time energy management and control. These
emission-free units would replace costly and polluting diesel
generators.
AFPW President and CEO Henry Fong said, "After 4 1/2 years of
research and development, the AFPW hydrogen technology is now ready
for commercialization and the Specialized Energy Applications Group
will quickly target the potential opportunities. The current
public focus and growth potential for the marijuana industry makes
it an outstanding candidate."
NovoFuel President David Cade said, "NovoFuel is in a unique
position to bring together a broad array of advanced energy
technologies and systems to support this newly formed AFPW
Group."
About AlumiFuel Power
Corporation AlumiFuel Power Corporation, through its
wholly-owned subsidiary, Novofuel, 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.
CONTACTS:
AlumiFuel Power Investor Relations: AlumiFuel Power Corporation
Henry Fong Chief Executive Officer 561-514-9042 Novofuel Technical
Information & Marketing: Email Contact 610-660-7775
AlumiFuel Power (CE) (USOTC:AFPW)
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