|By Marketwired .||
|May 1, 2014 10:00 AM EDT||
PHILADELPHIA, PA -- (Marketwired) -- 05/01/14 -- Early production stage hydrogen generation company, NovoFuel, Inc. (NovoFuel), a wholly-owned subsidiary of AlumiFuel Power Corporation (OTCQB: AFPW), announced today that, along with Genport, srl if Italy, it is actively working with cannabis growers and electric power contractors to develop renewable energy solutions to support cannabis cultivation.
The company has completed a detailed analysis in response to the rapidly expanding energy requirements of cannabis growers in the U.S. and Canada, resulting in the development of a range of Renewable Energy System (RES) configurations for various cultivation scenarios. (See AFPW news release of April 10, 2014).
The NovoFuel-Genport team has focused on a specific location and cultivation scenario in Michigan (one of the now 21 US states to legalize medical marijuana), and used sophisticated microgrid modeling tools to determine the optimal configuration of off-grid Renewable Energy Systems for cannabis cultivation, supplementing and reducing the reliance on local grid power. These integrated RES products include mini-wind power systems, solar panel power systems, hydrogen fuel cells, large format lithium-ion batteries, and a real-time microgrid management and control system.
The analysis for the Michigan location will result in a customized cost-effective configuration of RES components optimized for that specific environment, with the intention of installing and testing a pilot "plug and play" system for cannabis cultivation using NovoFuel/Genport products that could then be expanded to other locations in other states. In this process, NovoFuel is actively working with growers and electric power contractors in the local area.
This same RES approach is also ideal for farming applications (irrigation, etc.), where the required power and energy can be provided totally off-grid, with a greatly reduced life-cycle cost over a 20-year period. These RES components will eliminate harmful emissions, reduce the power load for local utilities, and lessen the need for foreign oil.
NovoFuel President, Mr. David Cade, said, "These are exciting times for our company. We have successfully entered the cannabis cultivation sector, and are making great progress in developing world-class renewable energy solutions for this application. We look forward to providing regular updates in the coming weeks."
NovoFuel, Inc., a wholly owned operating subsidiary of AlumiFuel Power Corporation, 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.
AlumiFuel Power Investor Relations:
AlumiFuel Power Corportion
NovoFuel Technical Information & Marketing:
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