SOURCE: AlumiFuel Power Corporation

AlumiFuel Power Corporation

September 12, 2012 07:00 ET

Seasoned Meteorological Sales and Marketing Professional Joins AlumiFuel Power

Addition Will Greatly Expand Global Reach of PBIS Products

PHILADELPHIA, PA--(Marketwire - Sep 12, 2012) - Early production stage hydrogen generation company AlumiFuel Power Corporation (OTCBB: AFPW) (the "Company") announced today that its U.S. operating subsidiary has engaged the services of Mr. Ed Figelman to market its Portable Balloon Inflation System (PBIS) products worldwide on an exclusive basis.

Mr. Figelman has a twenty-eight year track record of successful sales and marketing in the meteorological equipment industry, including radiosondes, balloons, and lift gas systems. His customer contacts include domestic and international military, civil government and meteorological industry players. From 1984-1999 he held various program management, marketing management and sales account management positions with VIZ Manufacturing Company and Sippican, Inc. In 1999 he formed his own company, FigTree Environmental, which serves as an independent manufacturer's representative for firms in the meteorological equipment business. Mr. Figelman developed market segments for each client company, and FigTree's annual sales bookings have increased every year, exceeding $1 million per year since 2007. His responsibilities include all aspects of the sales process. Mr. Figelman holds a BS degree from Dickinson College, Carlisle, PA and an MBA from Hofstra University, Uniondale, NY.

The current weather balloon lift gas market is estimated to be $150-200 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. AlumiFuel Power's PBIS family of products is far more mobile, safe, and cost effective than other on-site hydrogen generation systems, especially in remote and inaccessible areas where many balloons are launched.

Figtree Environmental and its clients have relationships with end users and commercial agents throughout the world. Among others, Graw Radiosondes GmbH of Nuremberg (a leading worldwide supplier of radiosondes, balloons, and upper air systems for the civilian and military markets) and Wittich & Visser of the Netherlands (a leading European supplier of meteorological instrumentation for boundary layer data acquisition) have already expressed initial interest and are exploring the possibility of adding the PBIS product line for promotion to its existing customer base. Other strategic relationships and sales opportunities for PBIS systems in Europe (as well as in Africa, South America, Asia, and Australia/New Zealand) are also being developed.

Mr. David Cade, President & Chief Executive Officer of AlumiFuel Power Technologies, Inc., said: "Ed Figelman has a sterling reputation in the global meteorological arena and his contacts in this market are second to none. We are thrilled to have him on our team, and are excited about the prospect of greatly expanding the sales of our PBIS products on a worldwide basis." Mr. Ed Figelman added: "AlumiFuel Power's PBIS technology and products are unique in the industry, and will give customers around the world an important new capability to fill and launch weather balloons in out-of-the-way locations. I see great potential for these products in many countries where there is a distinct need for a safe, affordable, and portable method of generating hydrogen for weather balloons."

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.

Contact Information

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

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    Email Contact
    610-660-7775