PHILADELPHIA, PA, Jan 04, 2012 (MARKETWIRE via COMTEX) -- Early production stage hydrogen generation company AlumiFuel Power, Inc. ("API"), the Philadelphia, Pennsylvania-based wholly owned operating subsidiary of AlumiFuel Power Corporation AFPW 0.00% (the "Company"), today announced several important developments involving its operations heading into the new year.
In November 2011 API moved out of the University City Science Center, and is now in the process of relocating into a larger laboratory facility in an industrial park in the Philadelphia suburbs, which will enable API to expand into light production. This relocation also will have a positive impact on API's bottom line since monthly rental and operating expenses will be significantly reduced.
API also has exciting developments involving several different technology applications. In the portable power arena, API has an emerging relationship with one of the world's largest manufacturers of PEM fuel cells. The advanced engineering solutions group of this company initiated contact with API -- seeking a new hydrogen generation technology that can be paired with their fuel cell systems to open up new man-portable and back-up power applications and markets. In a related vein, API is in discussions with a major University regarding a partnership to commercialize their unique hydrogen storage Intellectual Property, which is highly synergistic with API's hydrogen generation technology. This new initiative would provide an entry into new fuel cell markets for vehicular, back-up and auxiliary power applications. Further public announcements will be forthcoming as these relationships evolve.
In the Portable Balloon Inflation System (PBIS) area, API's contract with the U.S. Air Force Special Operations Command to develop and deliver a new PBIS-2000 system has generated considerable market interest. The meteorological systems group of the largest U.S. defense contractor has stated that the API unit is ideal for mobile and remote lift gas operations as compared to other field hydrogen generation systems. They have expressed interest in a potential mentor/protege relationship, which would include the identification of new customers. API will be interacting with the Air Force Special Operations customer and this defense contractor at the 92nd annual American Meteorological Society meeting in New Orleans in late January, 2012.
In addition, API's military customer for the PBIS-1000 system, initially delivered in 2010, has advised that no other lift gas solution can come close to the PBIS-1000 in satisfying their requirements, and that they are still very interested in moving forward with the procurement process.
API's President & CEO, Mr. David Cade, said, "As we enter 2012, we are looking forward to pursuing the many new exciting opportunities highlighted above. Despite the global economic downturn, we remain optimistic about commercializing our unique technology, and are encountering an increasing number of addressable applications and markets."
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