SOURCE: AlumiFuel Power Corporation

AlumiFuel Power Corporation

June 19, 2013 07:00 ET

Modified PBIS-2000 Hydrogen Lift Gas Generator Successfully Tested by the Air Force

PHILADELPHIA, PA--(Marketwired - Jun 19, 2013) - Early production stage hydrogen generation company AlumiFuel Power Corporation (OTCQB: AFPW) (the "Company"), through its U.S. operating subsidiary, AlumiFuel Power Technologies, Inc., announced today that U.S. Air Force Special Operations Command personnel completed initial testing of the modified Portable Balloon Inflation System (PBIS)-2000 with positive results.

This PBIS-2000 prototype unit was built to Air Force specifications and delivered in late April 2012; after several months of on-site testing, the unit was modified per Air Force request and returned to the customer in January 2013. (See AFPW news release of January 8, 2013). The second round of on-site training and testing was delayed by funding limitations imposed by the U.S. government budget sequestration. With the initial testing of the modified system now complete, the Air Force provided feedback that the unit worked as advertised and met their minimum requirements. Senior officers present for the test launches were impressed with the system, and the operations personnel gave it high marks. The Air Force suggested several minor items they would like to see changed/added for follow-on units. The next step is expected to be additional field testing in the U.S. and then overseas.

Once the field trials are completed, the Company anticipates orders for production versions of the PBIS-2000 hydrogen lift gas generator and AlumiFuel cartridges from the Air Force and other potential customers worldwide. AlumiFuel Power's PBIS marketing lead, Mr. Ed Figelman, has received numerous queries about the PBIS-2000 from potential customers around the world.

The current weather balloon lift gas market is estimated to be $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. 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).

Mr. David Cade, President & CEO of AlumiFuel Power Technologies, Inc., said, "We are gratified that Air Force initial testing of the modified unit went so well. The modifications clearly improved the operating functionality and capability of the system, and will be incorporated in a more streamlined design for follow-on PBIS-2000 production units."

About AlumiFuel Power Corporation
AlumiFuel Power Corporation, through its U.S. operating subsidiary, AlumiFuel Power Technologies, 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.

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