Jun 10 2010
Early production stage hydrogen generation company AlumiFuel Power, Inc. (“API”), the Philadelphia, Pennsylvania-based wholly owned operating subsidiary of AlumiFuel Power Corporation (OTCBB: AFPW), (the “Company”), announced today that it has signed a comprehensive Partnership Agreement with Ingenium Technologies, Inc. (“Ingenium”) of Rockford, Illinois, a turnkey systems integrator with special engineering expertise in advanced power and energy systems.
The scope of the exclusive Partnership Agreement encompasses power generation and energy storage for Unmanned Undersea Vehicles (UUVs) and submersibles, as well as man-portable and Auxiliary Power Unit applications. In these applications, API’s AlumiFuel technology provides the power to drive turbines, fuel cells and/or thermoelectric converters in power plants designed, engineered and/or integrated by Ingenium. This Partnership Agreement follows on the heels of the election of API’s hydrogen generation technology for award of a U.S. Navy R&D contract as a novel new hydrogen source for powering future UUVs, with Ingenium as the prime contractor.
In addition to its power systems and development engineering expertise, Ingenium’s strengths include marketing and business development involving military and commercial customers, and a track record of program wins and successful program execution. API’s strengths include its practical engineering ability to harness and control the reactions of its AlumiFuel mixes for various applications. The two companies have a synergistic approach to engineering, business and management challenges and opportunities; they intend to target selected Department of Defense, Department of Homeland Security and commercial customers and programs in the U.S., as well as allied military and commercial customers in Europe.
API’s Chief Technology Officer, Mr. John Boyle, said: “We are indeed fortunate to have such a powerful path-to-market partner for these important applications. API and Ingenium are confident that this relationship will expand API’s position in the power industry with new applications, programs and customers, and will increase API’s role as a fuel supplier for new energy sources and fuel replenishment systems.“