NovoFuel Team Closes Purchase of Pilot Site to Showcase Optimized Renewable Energy Solution
FOR IMMEDIATE RELEASE
NOVOFUEL TEAM CLOSES PURCHASE OF PILOT SITE TO SHOWCASE OPTIMIZED RENEWABLE ENERGY SOLUTION
PHILADELPHIA, Pennsylvania, April 14, 2015 — NovoFuel, Inc. (“NovoFuel”), a wholly-owned operating subsidiary of AlumiFuel Power Corporation (OTC Pink: AFPW), announced today that the purchase of the ten acre parcel of land in Oceana County, Michigan has closed; this is the location for the pilot site which will demonstrate NovoFuel’s hybrid Renewable Energy Systems (RES) solution for medical cannabis grow operations. (See NovoFuel News Release of March 12, 2015.)
The NovoFuel team will now focus on obtaining the necessary local permits and preparing the site infrastructure for installation of the various RES components — patented monopole tower (for wind turbine and site security subsystem), solar panel array, proprietary large format 18.6kW lithium-ion battery and the proprietary energy management & control module. Photographs taken during the recent site survey visit can be accessed on the AFPW website (www.alumifuelpowercorp.com).
Following completion of the permit process and the infrastructure work, the current timeline plans call for delivery of all RES components to the pilot site in 3Q 2015; and installation, integration, testing and commissioning in 4Q 2015. Selected demonstrations to potential customers would begin in late 4Q 2015.
Concurrently with the cannabis hybrid RES application showcased at the pilot site, NovoFuel will aggressively pursue expansion into oilfield and mining RES applications through the previously reported partnership with Fidelity Holding Corporation (“Fidelity”) (OTC:”FDHC”) and its subsidiary, Rebel Resources, Inc., which applies proprietary new technology to extract heavy oil out of Fidelity’s mature oilfields in Kansas, and subsequently in other oilfields worldwide. (See NovoFuel News Release of March 25, 2015.)
“We are excited about securing the pilot site land as the first step in proving out the use of hybrid RES technology and components to serve multiple applications requiring off-grid power and energy.”, said NovoFuel President & CEO, David Cade.
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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