SOURCE: AlumiFuel Power Corporation

AlumiFuel Power Corporation

October 11, 2011 07:00 ET

AlumiFuel Power Corporation Management Responds to Shareholder Inquiries

CENTENNIAL, CO--(Marketwire - Oct 11, 2011) - Early production stage hydrogen generation company AlumiFuel Power Corporation (OTCBB: AFPW) (the "Company") announced today that during the past several days the Company has received inquiries from shareholders on several issues for clarification. Accordingly, the Company is addressing the principal inquiries as follows.

Is the Air Force order a firm order and what is the likelihood of future orders?

The US Air Force Special Operations Command award to AlumiFuel Power, Inc. is a firm Air Force contract order. The order is for a working PBIS-2000 hydrogen generation unit, along with 360 AlumiFuel cartridges, spares kit, tool kit, and two days of on-site operator training -- all typical requirements for any operational system. The Air Force customer has briefed the unique capabilities of the system to numerous other military and meteorological users, all of whom have expressed interest in the unit. These entities in aggregate have hundreds of balloon launch sites around the world, with each site typically launching 1-2 balloons daily, with the requisite ongoing requirement for AlumiFuel cartridges (the razor/razor blades analogy). The Company press release of October 7, 2011 details the advantages of the PBIS-2000 over other hydrogen generation systems in the field -- which is why users are so enthusiastic about the potential of this new unit.

How does AlumiFuel Power International factor into the Company's future financing plans, what is the progress to date, and has the Company met the current listing requirements for the Frankfurt Börse Stock Exchange?

AlumiFuel Power International (AFPI) has been listed on the Frankfurt Börse stock exchange since September 2010. While during most of that period of time there was little to no trading in the stock, more recently there has been increased daily volume and the price as of the close of business on October 10, 2011 was EURO 1.09. The Company owns 47,500,000 shares of AFPI. The Company's plan to generate investor awareness in AFPI in order to create a more liquid and stable trading market is in the initial stages as evidenced by recent trading. In addition to providing a market for the AFPI stock and its stockholders, one significant goal is to use the increased liquidity for the Company's capital raising activities by monetizing a portion of its shares. When successful, this will minimize the dilution to the current AFPW stockholders and potentially create other shareholder maximization initiatives.

In addition, AFPI has addressed and meets the current listing requirements for the Frankfurt Börse Stock Exchange.

About AlumiFuel Power Corporation
AlumiFuel Power Corporation operates through its wholly owned subsidiary, AlumiFuel Power, Inc., a Philadelphia-based early production stage alternative energy company that generates hydrogen gas and steam for multiple niche applications requiring on-site, on-demand fuel sources. The Company also operates through its majority owned subsidiary, AlumiFuel Power International, Inc., to market its products globally outside of North America.

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

  • CONTACTS:
    Investor Relations:
    AlumiFuel Power Corporation
    Thomas B. Olson
    Corporate Secretary
    303-796-8940