NovoFuel Team Completes Successful Site Survey at Michigan Renewable Energy Pilot Site; Concludes Site Provides Optimal Location for Test Installation
FOR IMMEDIATE RELEASE
NOVOFUEL TEAM COMPLETES SUCCESSFUL SITE SURVEY AT MICHIGAN RENEWABLE ENERGY PILOT SITE; CONCLUDES SITE PROVIDES OPTIMAL LOCATION FOR TEST INSTALLATION
PHILADELPHIA, Pennsylvania, March 12, 2015 — NovoFuel, Inc. (“NovoFuel”), a wholly-owned operating subsidiary of AlumiFuel Power Corporation (OTC Pink: AFPW), announced today that its CEO and the CEOs of two of its three partner companies finished a thorough assessment of the recently contracted-for pilot site in Oceana County, Michigan; designed to showcase NovoFuel’s Renewable Energy System (RES) solution supporting medical cannabis grow operations. (See NovoFuel News Release of February 18, 2015.) The pilot site purchase transaction is scheduled to close on March 31, 2015.
Although the ten acre site was covered with several feet of snow, the NovoFuel team was able to verify that the property provides an optimal location for the various RES components — patented monopole tower (wind turbine and site security subsystem), solar panel array, the proprietary large format 18.6kW lithium-ion battery and the proprietary energy management & control module. The team also determined which building will house the cannabis grow operations to be served by the NovoFuel RES power plant as a supplement to on-site grid power.
Photographs taken during the site survey visit can be accessed on the AFPW website (www.alumifuelpowercorp.com).
“Our visit confirmed that this is an ideal location for the pilot site — situated on a high bluff with considerable wind activity, no local restrictions on the height of our monopole wind tower, and no on-site obstructions to limit the effectiveness of the wind turbine. We are eager to move forward with the necessary actions to prepare the site for operations, obtain local permits, deliver the various RES components to the site, install and integrate the components, and complete system checkout and commissioning”, 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.
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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.
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