SOURCE: AlumiFuel Power Corporation

AlumiFuel Power Corporation

February 13, 2014 07:00 ET

AlumiFuel Power Corporation Announces Formation of Subsidiary to Pursue Early Stage Business Opportunities in Bitcoin and Other Digital Cryptocurrencies

CENTENNIAL, CO--(Marketwired - Feb 13, 2014) - Early production stage hydrogen generation company AlumiFuel Power Corporation (OTCQB: AFPW) (AlumiFuel or the "Company") announced today that it has formed a new wholly-owned subsidiary, Bitcoin Capital Corporation, to pursue early stage business opportunities in Bitcoin and other cryptocurrency focused companies and projects. It intends to provide angel funding and assistance in business development and consulting services related to these activities. Management believes this approach will offer a simplified entry for the investor to gain exposure to Bitcoin and other cryptocurrencies by eventually providing a diversified portfolio of early stage companies and projects in this up and coming realm.

In a press release dated February 6, 2014, the Company announced a change in its strategic direction to which this newly formed subsidiary marks the next step following NovoFuel. 

Henry Fong, Chief Executive Officer, said, "Bitcoin is a cryptocurrency that is not issued by any government, bank or central financial organization. We believe that its increased acceptance and popularity over time will make this an alternative to traditional currencies and forms of payment. We also believe that Bitcoin may eventually become a revolutionary payment medium and feel that early adopters and investors may well reap the benefits of dramatic returns should that prove true."

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.

Contact Information


    AlumiFuel Power Investor Relations:
    AlumiFuel Power Corporation
    Henry Fong
    Chief Executive Officer

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