PHILADELPHIA, PA -- (Marketwire) -- 02/03/12 -- Early production stage hydrogen generation company AlumiFuel Power Corporation (OTCBB: AFPW) (the 'Company'), through its operating subsidiaries, announced today that its unique Portable Balloon Inflation Systems (PBIS) generated significant interest at the 92nd annual American Meteorological Society (AMS) Meeting in New Orleans, January 23-26, 2012.
The annual AMS Meeting is the largest and most important weather-related conference in the U.S., bringing together all of the key players in the meteorological field. This year's event had over 100 exhibitors and some 3,000 attendees from around the world.
The Company's featured product was the PBIS-2000, representing the latest in lift gas technology, now in final development for a 1Q 2012 delivery to the US Air Force Special Operations Command (AFSOC). A handout on the PBIS-2000 was extremely well received by military and meteorological community customers and prospective industry partners.
The Company's Air Force customer has operational plans for the first PBIS-2000 unit, following an on-site training session upon delivery. Other military customers at the AMS Meeting indicated that they are closely following the PBIS-2000 development, and one expressed interest in further discussions for development and testing similar to the Air Force. After introduction to the Company's PBIS technology at the Meeting, several meteorological community companies have indicated their intent to introduce the PBIS-2000 and other PBIS products to foreign military and meteorological users around the world. These conversations confirmed that there is a significant foreign market for 30-45g pilot balloons, which could be served by the Company's PBIS-lite unit, which is a scaled down and less expensive version of the PBIS-2000 designed to fill and launch 200g balloons.
The meteorological systems group of the largest U.S. defense contractor confirmed their belief to Company representatives at the AMS Meeting that the PBIS systems are ideal for mobile and remote lift gas operations as compared to other field hydrogen generation systems, and is in the initial stages of establishing a mentor/protégé relationship with the Company.
Perhaps the most significant development at the AMS Meeting was a series of discussions with several major companies in the meteorological community that expressed interest in establishing partnership arrangements involving worldwide marketing and sales of the Company's PBIS products. As these developments materialize, the Company will provide more information to its stakeholders.
The current weather balloon lift gas market is pegged at $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. Based on customer feedback, the Company believes the PBIS family can become the field standard and lift gas product of choice for NATO military users and meteorological customers worldwide. 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).
The Company's Director of Engineering, Mr. Sean McIntosh, said, 'We were overwhelmed by the very positive reception of our technology and products at the annual AMS Meeting.'
About AlumiFuel Power Corporation
AlumiFuel Power Corporation, operating through its subsidiaries, is an early production stage alternative energy company that generates hydrogen gas and steam/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 feeds fuel cells for portable and back-up power; fills inflatable devices such as weather balloons; can replace costly, hard-to-handle and high pressure K-Cylinders; and provides fuel for flameless heater applications. 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.
AlumiFuel Power Corporation
Thomas B. Olson
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