13:00 | 09.02.2010
AlumiFuel Power, Inc. Receives First Purchase Order for Its Portable Balloon Inflation System
Early production stage hydrogen generation company AlumiFuel Power, Inc.
(“API”), the Philadelphia, Pennsylvania-based wholly owned operating
subsidiary of AlumiFuel Power Corporation (OTCBB: AFPW), (the
“Company”), announced today that it has received a Purchase Order for
three units of its PBIS-1000 Portable Balloon Inflation System. The
Purchase Order was received from Kaymont Consolidated Industries, Inc.
of Long Island, New York – the world’s largest distributor of weather
balloons and API’s partner for lift-gas applications – on behalf of an
unspecified military customer. Following successful delivery of this
initial order, the customer is expected to place an additional Purchase
Order in the Second Quarter.
The PBIS-1000 recently was displayed at the Annual Meeting of the
American Meteorological Society in Atlanta, where it generated
considerable interest among potential customers. The majority of the
PBIS-1000 manufacturing will take place at APEX Piping Systems, Inc., a
large world class welding and manufacturing facility in nearby Delaware.
(See API news releases of January 20, 2010, January 15, 2010, and
December 30, 2009).
The PBIS-1000 is API’s first commercially available product.
Incorporating feedback from the military customer, this fourth
generation PBIS-1000 unit is a significant upgrade over prototype
systems previously demonstrated to the customer over an 18-month period.
The production unit has a simpler design with fewer components, and is
lighter, more compact, more ruggedized for military applications, more
user-friendly, and more cost-effective. Using a higher grade stainless
steel construction with better corrosion properties and durable
fluorocarbon rubber for all seals, the upgraded unit can better
withstand required pressures and temperatures over its long expected
lifetime. The reactor and water tanks, as well as all plumbing lines and
connectors, have been optimized for weight, simplicity, and cost, and
are stamped and certified with the ASME code – a standard requirement
for commercial pressure vessels. The unit meets Mil Spec requirements
for vibration, environmental and drop tests, and is housed in a molded
polyethylene carrying case used regularly by the military.
In addition, a more effective packaging configuration of the company’s
proprietary AlumiFuel cartridges increases the speed of the reaction and
the hydrogen yield, while reducing cartridge cost. The versatile
PBIS-1000 unit can produce 1,000 liters of hydrogen in 20 minutes at
ambient temperature and atmospheric pressure using only two 32-oz.
AlumiFuel cartridges.
The PBIS-1000 man-portable reactor and launching unit uses API’s
proprietary AlumiFuel technology to produce hydrogen through the
powerful chemical reaction of powdered aluminum, water and proprietary
additives. The device requires only a simple water hand pump and two
small AlumiFuel cartridges to propagate the reaction and generate
sufficient lift gas to launch a 5-foot diameter weather balloon.
This API innovation, which enables on the spot generation of hydrogen
without any external energy or toxic chemicals, is easier to use and is
cheaper than current lift gas solutions. Traditionally, helium has been
used as the primary lift gas, but with the increasing scarcity and cost
of helium, users are rapidly switching to hydrogen. The API portable
launching unit is far more mobile and cost-effective than other on-site
hydrogen generation systems. The global market for lift gas fuel is
approximately $70 million and growing, with more than 1,000,000 weather
balloons and special purpose balloons launched annually for telecom
relay, cloud height measurement and military/national security
applications.
API’s Chief Technology Officer, Mr. John Boyle, one of the nation’s
foremost hydrogen experts, said, “We have devoted significant technical
talent, expertise and perseverance to develop this one-of-a-kind
lift-gas system. The production unit, which is not available anywhere
else in the world, represents a remarkable integration of mechanical,
chemical, fluid and gas design elements.”
API’s President and Chief Executive Officer, Mr. David Cade, said, “This
Purchase Order is the most significant milestone in the history of API.
This first ’sale’ is important in its own right, but in addition, other
potential balloon lift-gas customers, including military and
environmental/weather service users, are closely following the progress
of these first operational units. Along with Kaymont Consolidated, we
will be scheduling near-term demonstrations for this expanded customer
base. The PBIS-1000 also enables us to demonstrate the applicability of
our technology to other mobile, back-up, auxiliary and remote power
applications in our target markets, feeding fuel cells and driving
turbine-based underwater propulsion systems and generators.”
About Kaymont Consolidated Industries,
Inc.
Kaymont Consolidated Industries, Inc. (www.kaymont.com),
founded in 1978, has been a provider of the highest quality
meteorological balloons to the National Weather Service, U.S. military,
and U.S. test ranges. Kaymont’s vast experience and knowledge in the
worldwide meteorological market make it ideally suited for marketing
API’s technology to both military and civilian lift gas customers around
the world. Kaymont Consolidated is also a leading global supplier of
meteorological measuring devices used in military applications, and of
humidity calibration chambers for use in various industries.
About Apex Piping Systems, Inc.
Apex Piping Systems, Inc. (www.apexpiping.com)
is a World Class fabricator of piping systems, skid modules, specialty
fabrications and reactor vessels serving the Petro-Chemical, Air
Separation, Nuclear, Hydrogen Fuel Cell, Gas Turbine, Bio-Fuel and other
related industries. Their headquarters is located in Newport, Delaware,
conveniently located off of Interstate 95, with close access to barge
and rail transport. Their main engineering and manufacturing facility
spans over 60,000 square feet, and features a world class
35,000-square-foot ASME code process pipe and pressure vessel
fabrication shop. The company holds ASME “U”, “PP”, “S”, and NBIC “R”
code stamp authorizations, and is certified by TUV SUD America to the
European Pressure Equipment Directive (PED) and ISO ISO 9001:2000.
About AlumiFuel Power, Inc.
API (www.alumifuelpowerinc.com)
is an alternative energy company that generates hydrogen gas and
superheated steam for multiple niche applications requiring on-site,
on-demand fuel sources, serving National Security and commercial
customers. API’s hydrogen drives fuel cells for back-up and portable
power, fills inflatable devices such as weather balloons, and can
replace costly, hard-to-handle and high pressure K-Cylinders. Its
hydrogen/steam output is also being designed and developed to drive
turbine-based underwater propulsion systems and auxiliary power systems.
API 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.
About AlumiFuel Power Corporation
AlumiFuel Power Corporation, formerly known as Inhibiton Therapeutics,
Inc., recently acquired its wholly owned operating 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
has been conducting biotechnology research, development and potential
commercialization of technologies and products for new cancer
therapeutic agents and cancer fighting drugs called targeted therapies.
Safe Harbor for Forward-looking StatementsThis 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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