Alumifuel Power Corporation Announces Plans to Enter Multi-Billion Dollar Staffing Industry
FOR IMMEDIATE RELEASE
ALUMIFUEL POWER CORPORATION ANNOUNCES PLANS TO ENTER MULTI-BILLION DOLLAR STAFFING INDUSTRY
CENTENNIAL, Colorado August 15, 2016. — AlumiFuel Power Corporation (OTCPink: AFPW) (“AlumiFuel” or the “Company”), announced today that its board of directors has approved a plan for the Company to enter into the over $100 billion dollar staffing industry through formation of its wholly owned subsidiary, Energy Staffing Solutions, Inc. (“ESS”).
ESS is presently in discussions with several entities regarding potential acquisition and/or collaboration opportunities. The ESS plan for the establishment and growth of its business is anticipated to include several strategies including collaborations, acquisitions and a general roll-up approach as well as eventual organic growth.
“We see the staffing function being a synergistic complement to AlumiFuel’s wholly owned subsidiary NovoFuel, Inc., which continues to pursue hybrid renewable energy systems solutions for a variety of off-grid power applications,” said AlumiFuel Chief Executive Officer, Henry Fong. “In a concurrent initiative, we are pursuing the consolidation of certain of AlumiFuel’s convertible debt as this will be an important element in future financing considerations for potential acquisitions. We will be advising our stockholders further as these actions move forward and materialize,” concluded Mr. Fong.
About AlumiFuel Power Corporation
AlumiFuel Power Corporation, operating through its wholly owned subsidiary, NovoFuel, Inc., is an early production stage alternative energy company that is pursuing hybrid renewable energy systems for a number of backup power applications. The NovoFuel brand includes a new line of high capacity lithium-ion batteries as well as patented and proprietary technology that generates hydrogen gas through the chemical reaction of aluminum powder, water, and proprietary additives.
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
Henry Fong, Chief Executive Officer