SOURCE: AlumiFuel Power Corporation

AlumiFuel Power Corporation

January 15, 2015 13:22 ET

NovoFuel, Inc. Conducts Interview to Discuss Growing Electricity Demand of Medical Cannabis Growers, and Its Renewable Energy Technology Solution

CENTENNIAL, CO--(Marketwired - Jan 15, 2015) - AlumiFuel Power Corporation (OTC PINK: AFPW), a developer of power management solutions, announces that NovoFuel, Inc. conducted an interview to discuss their cannabis grow renewable power & energy technologies and systems.

David Cade, the President and CEO of NovoFuel, Inc., a wholly owned subsidiary of AlumiFuel Power Corp., conducted an online interview addressing the issues of growing electricity demand of cannabis growers, and NovoFuel's hybrid Renewable Energy Systems (RES) initiatives to address this ever-widening problem.

Interview Highlights

  • Cannabis growers are overloading local utility grid networks
  • Problem only expected to increase as more grow facilities come online
  • 12 to 48 plants can use up to10kW per day
  • Larger grow facilities up to 50,000 sq. ft. can use 3mW per day
  • States starting to force cannabis growers to augment their grid power with renewable sources
  • States also beginning to levy tax on growers for grid power usage
  • Hybrid solution integrates Wind, Solar, Hydrogen Fuel Cells, large format Lithium-ion batteries Real time energy management and control provides failsafe power 24/7
  • NovoFuel's RES solution uses "best-of-breed" off-the-shelf components and is scalable
  • RES solution also includes all-important security package
  • NovoFuel's hybrid RES solution could mean lower costs, green footprint, tax incentives
  • NovoFuel conducting site selection for pilot site location in Michigan

In the interview, Mr. Cade made point that cost for diesel back-up power generation, which is usually the standard form of power back-up for grow facilities, can cost up to $0.81 per kWh, whereas NovoFuel's hybrid RES system can range from $0.18 to $0.30 per kWh depending on the location and mix of RES components.

A link to the online audio interview of Mr. David Cade can be found by going to: http://www.wallstreetnewscast.com/profile/afpw.html

About AlumiFuel Power Corporation
AlumiFuel Power Corporation, operating through its wholly owned subsidiary, NovoFuel, Inc., is an early production stage renewable 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. In addition, NovoFuel has embarked on a new initiative to design and field hybrid renewable energy solutions for medical marijuana cultivation. 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. www.alumifuelpowercorp.com

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:
    AlumiFuel Power Corporation
    Thomas B. Olson
    Corporate Secretary
    303-796-8940

    Investor Relations:
    South Street Media, Inc.
    Melissa Diaz
    917-937-8968
    Email Contact

    NovoFuel, Inc.
    Technical Information & Marketing:
    Email Contact