AlumiFuel Power, Inc. 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. (See API news release of May 12, 2010.)
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.“
About Ingenium Technologies, Inc.
Ingenium (www.ingeniumtech.com), located in Rockford, Illinois, provides world-class, cost-effective product development services and operations consulting services to a diverse client base. Ingenium's engineering staff of over 150 full-time seasoned professionals comes from a vast array of technical disciplines, with broad experience. Ingenium provides turnkey solutions for complex systems, from concept development to design, analysis, prototyping, and certification for both DoD and commercial customers. Ingenium’s clients range in size from small businesses to Fortune 500 companies. Ingenium’s customers’ needs vary from firms that cannot maintain full-time senior engineering resources to businesses that are experiencing peak periods of activity and need to supplement their technical staffs.
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