NovoFuel Signs Agreement for Pilot Site in Michigan; Location Will Allow Showcasing of Optimized Renewable Energy Solution for Medical Cannabis Grow Operations
FOR IMMEDIATE RELEASE
NOVOFUEL SIGNS AGREEMENT FOR PILOT SITE IN MICHIGAN; LOCATION WILL ALLOW SHOWCASING OF OPTIMIZED RENEWABLE ENERGY SOLUTION FOR MEDICAL CANNABIS GROW OPERATIONS
PHILADELPHIA, Pennsylvania, February 18, 2015 — NovoFuel, Inc. (“NovoFuel”), a wholly-owned operating subsidiary of AlumiFuel Power Corporation (OTC Pink: AFPW), announced today that it has signed a contract for use of a ten acre parcel of land in Oceana County, Michigan to set up a pilot site showcasing its hybrid Renewable Energy Systems (RES) solution in support of medical cannabis grow operations. (See NovoFuel News Release of January 28, 2015). The land was purchased by the Michigan-based electrical contractor who is a member of the NovoFuel RES team, and NovoFuel will have use of the property for the RES installation and activities. The electrical contractor, who is an experienced medical cannabis grower, will also provide on-site systems engineering and project management.
NovoFuel’s hybrid RES solution for the Michigan site includes a 10kW wind turbine, a 12kW solar panel array, and an 18.6kW large format lithium-ion battery, as well as a real-time energy management & control module, and a site security module. After a thorough search for an ideal pilot site location, NovoFuel was fortunate to secure this particular property, since it is on a bluff and in a location with no restrictions on the height of the team’s patented monopole tower for the wind turbine and site security components, and there is ample space for the solar panel array. The availability of sufficient wind and solar energy precludes the need for a hydrogen fuel cell at the Michigan pilot site. NovoFuel’s pilot site RES configuration will provide more than half of the 51,000 kilowatt-hours per year required for the grow operations.
All of the NovoFuel RES components are items of commerce, and will be installed and integrated at the pilot site later this year, with a 3Q target date. NovoFuel has been contacted by other medical cannabis growers in Michigan who have expressed keen interest in an RES solution for their grow activities following successful operation of the pilot site.
“Acquiring this pilot site location is a very significant step in implementing our Renewable Energy initiatives to serve the increasing power needs of cannabis growers nationwide and in Canada,” said Mr. David Cade, President and CEO of NovoFuel.
NovoFuel, Inc., a wholly owned operating subsidiary of AlumiFuel Power Corporation, 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 cannabis grow operations. 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 Corporation||NovoFuel, Inc.|
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