Today's Excellent Press Release

PHILADELPHIA, PA--(Marketwire - 05/18/11) - Early production stage hydrogen generation company AlumiFuel Power, Inc., the Philadelphia, Pennsylvania-based wholly owned operating subsidiary of AlumiFuel Power Corporation (OTC.BB:AFPW - News), (the "Company"), announced today that in conjunction with its portable power partner and prime contractor, Ingenium Technologies of Rockford, Illinois, it has developed a system that can generate hydrogen for fueling UUVs using its proprietary AlumiFuel powders.
In June, 2010, the Ingenium-API team was awarded a U.S. Navy R&D contract for a novel new hydrogen fuel delivery system to power future fuel cell driven UUVs, with Ingenium as the prime contractor. The technology embodied in the Ingenium-API team is well suited for two major new-start multi-million dollar programs that the Navy intends to award this year as it seeks new operational UUV power sources other than batteries. The first is for a long endurance 21" UUV propulsion system, and the second is for a larger 54" UUV platform.
The overall global UUV market is expected to reach $12 billion over the next decade, encompassing commercial, naval and other national security applications. This number includes $1.2 billion for the power systems, with $400-$500 million related to the fuel modules. API and Ingenium are exploring a growing number of opportunities involving naval and commercial power plant applications with the US Navy, allied navies, major defense contractors, and deepwater services industry players worldwide.
API's Director of Engineering, Mr. Sean McIntosh, said, "We set a lot of very ambitious goals for ourselves in our recent undersea fuel source development programs and are very proud that we have accomplished all of these goals. Together with Ingenium we have made tremendous strides in developing components for a UUV power source which will allow us to aggressively pursue global commercial and military undersea vehicle opportunities."
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.
About AlumiFuel Power, Inc.
API (www.alumifuelpowerinc.com), the Philadelphia, Pennsylvania-based wholly owned operating subsidiary of AlumiFuel Power Corporation, is an early production stage alternative energy company that generates hydrogen gas and steam/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. API's hydrogen feeds fuel cells for portable and back-up power; fills inflatable devices such as weather balloons; can replace costly, hard-to-handle and high pressure K-Cylinders; and provides fuel for flameless heater applications. Its hydrogen/heat output is also being designed and developed to drive fuel cell-based and turbine-based undersea propulsion systems and auxiliary power systems. API 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.
About AlumiFuel Power Corporation
AlumiFuel Power Corporation operates through its wholly owned subsidiary, AlumiFuel Power, Inc., a Philadelphia-based early production stage alternative energy company that generates hydrogen gas and steam for multiple applications requiring on-site, on-demand fuel sources.

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AlumiFuel Power, Inc. CEO Represents Alternative Energy Sector on Corporate Growth Panel

Early production stage hydrogen generation company AlumiFuel Power, Inc. ("API"), the Philadelphia, Pennsylvania-based wholly-owned operating subsidiary of AlumiFuel Power Corporation (OTC.BB:AFPW - News) (the "Company"), announced today that its CEO was recently featured in a CEO panel discussion sponsored by the Philadelphia area chapter of the Association for Corporate Growth (ACG).
ACG is a global organization for middle market business leaders and dealmakers focused on corporate growth strategies and Mergers & Acquisition activities. The September 16 panel presentation was dedicated to "hot industry" sectors poised for growth. Mr. David Cade, API's President and CEO, represented the Alternative Energy sector, while two other company CEOs covered the Health Care industry and the Logistics/Transportation sector. The panel members addressed growth drivers in their respective industries, including organic growth, legislative/regulatory changes, and mergers & acquisitions.
In his presentation to this large audience, Mr. Cade discussed the various components of the Alternative Energy sector -- ranging from solar power and wind power to nuclear power. Of particular interest to the audience were the significant emerging growth opportunities involving Natural Gas and Hydrogen fuels for vehicular applications and distributed/portable power applications, reducing the dependence on foreign oil. Mr. Cade also detailed the many Alternative Energy opportunities in Europe now being pursued by AlumiFuel Power International, Inc.

AlumiFuel Power Corporation Files Current Report on Form 8-K Updating European Financing Plans

 In February 2010, the Company formed AlumiFuel Power International, Inc. ("AFPI") and acquired a total of 40,000,000 shares of AFPI common stock through a license agreement executed between the companies and the purchase of AFPI founders stock. The license agreement licenses the Company's intellectual property and trademarks for use by AFPI giving AFPI the right to utilize that intellectual property and market the Company's products to all countries outside of North America. AFPI is presently a more than 90% majority-owned subsidiary of the Company.
In March 2010, the Company and AFPI retained the services of Rathbourne Mercantile, Ltd. to serve as the Company's advisor in connection with the sale of certain of the Company's AFPI shares to institutional investors in the German financial marketplace as well as the listing of AFPI's common stock on the German Deutsche B�rse stock exchange. In connection with the Company's proposed sale of the common stock, Rathbourne commissioned a valuation study of AFPI by an independent valuation company, Geneva Rothweil Partners, Ltd., which study opined a market valuation for AFPI at March 31, 2010 of approximately $50,000,000.
The Company's principals have currently scheduled a trip to Germany for the week of June 14, 2010 to meet with institutional investors, stock exchange officials, and potential lead brokers. Although there is no assurance the Company will successfully sell any of its AFPI shares to German institutional investors or complete a listing of AFPI's common stock on the Deutsche B�rse stock exchange, the Company's plan is to pursue this course as a means to raise significant capital to fund the Company's and AFPI's commercialization activities as well as other projects currently in development.
The Geneva Rothweil Partners, Ltd. opinion stated the following:
May 17, 2010
Rathbourne Mercantile, Ltd.
Gardenview Court, Suite 205
Encinitas, CA 92024
Dear Rathbourne Mercantile, Ltd.,
The enclosed valuation report has been developed for the exclusive and confidential use of Rathbourne Mercantile, Ltd. The report has been prepared by Geneva Rothweil Partners, Ltd. dated May 17, 2010 and was made by and/or under the direct supervision of the undersigned. The purpose of the valuation is to render an opinion as to the Fair Market Value of the common stock interest, as of March 31, 2010.

In preparing our business valuation report, we have relied upon historical financial information provided to us by management and derived from the companies' Annual report, corporate presentation and projections. This financial information has not been audited, reviewed, or compiled by us and accordingly we do not express an opinion or any form of assurance on this financial information.
Our report is based on historical and prospective financial information provided to us by management and other third parties. Users of this valuation report should be aware that business valuations are based on future earnings potential that may or may not materialize. Therefore, the actual results achieved during the projection period will vary from the projections used in this valuation, and the variations may be material. The accompanying report discusses all the assumptions and limiting conditions that apply to this opinion of value and are integral to the understanding of the opinion

---

Based upon our study and analytical review procedures, we have concluded that a reasonable estimate of the Fair Market Value of a 100% common stock interest of AlumiFuel Power International, Inc. as of March 31, 2010 is $50,426,200.
This engagement was not contingent upon developing or reporting predetermined results. Our compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal. Our analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice. No one provided significant business appraisal assistance to the person signing this certification.
Sincerely yours,

Geneva Rothweil Partners, Ltd

AlumiFuel Power, Inc. Signs Partnership Agreement with Ingenium Technologies

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.

Every Once in a While Something Really Great Comes Along. You either join it and make a great income or you pass it by and miss out.

Alumifuel is that Opportunity. Consider:

The World's Largest Helium Deposits are located in TX and they are depleting fast, and may run out within the next 10 years. NASA and the Department of Defense are the largest users of Helium gas. Hydrogen is replacing Helium in Balloons because it is more economical.

Recent Press Releases & 8K filings detail the recent sales x 3 of the companies flagship product the PBIS-1000 and the mass production of the necessary fuel cartridges.

The company has signed, Manufacturing, Production, Packaging and Sales agreements with three Industry leaders. Apex piping systems, ActionPak, Inc and Kaymont Consolidated Industries.

Alumifuels was recently featured in the Philadelphia Business Journal (See article below).

The company was featured on the Lehrer PBS NewsHour Nationwide Telecast.

This is Not a daytrader stock, rather it is more suited for long Term investors seeking a ground floor opportunity in a soon to be highly profitable technology.
Please do your own Due Diligence, It's your Money.

For Fun & Informative Chat Click Here- AFPW. IH message board

Alumifuels Awarded Navy Contract!.

AlumiFuel Power, Inc. Technology Selected for Navy R&D Contract Award as Power Source for Unmanned Undersea Vehicles

 May 12, 2010 (BUSINESS WIRE) -- Early production stage hydrogen generation company AlumiFuel Power, Inc. ("API"), the Philadelphia, Pennsylvania-based wholly owned operating subsidiary of AlumiFuel Power Corporation (the "Company"), announced today that its hydrogen generation technology has been selected for award of a U.S. Navy R&D contract as a novel new hydrogen source for powering future Unmanned Undersea Vehicles (UUVs).
API is part of a team headed by Ingenium Technologies, Inc. ("Ingenium") that was selected for a Phase I award under the Small Business Technology Transfer (STTR) program. The proposal submitted by Ingenium, a Rockford, Illinois-based defense systems integrator, was in response to an STTR solicitation issued by the U.S. Department of the Navy. In this solicitation, the Navy is seeking a novel hydrogen source to power air independent fuel cells for future UUV missions, which is one of API's primary target applications. The Phase I research will focus on developing a refuelable hydrogen generating system using solid fuel cartridges (similar to those developed and used by API for other applications) and to demonstrate the continuous delivery of fuel-cell grade hydrogen for eight hours.
The solicitation described the Navy's requirement as follows: "Underwater vehicles will serve as key elements in the integrated operations of future surface ships and submarines, providing a range of support functions including autonomous surveillance, mine counter measures, and Special Forces transport. However, current power sources for these vehicles (rechargeable silver-zinc batteries or high-energy primary batteries) do not meet the energy requirements for future missions, or they impose a tremendous logistics burden on the host vessel. Fuel cells offer a viable option for meeting mission energy requirements, and at the same time, they can reduce the host vessel logistics burden if the fuel and oxidizer can be stored in a high energy density format."

As the prime contractor, Ingenium will develop the overall system design, with API's hydrogen generation technology as the key fuel source component of the proposed design. In addition to subcontracting power source tasks to API, Ingenium will use Drexel University as its research institution partner. Drexel was included in the proposal because of the relevant AlumiFuel powder research that API conducts at the Drexel Nanotechnology Institute, and the world-class microscopy equipment, facilities and technical personnel at the Institute will add significant contributions to the development effort.

Phase I awards typically are $70,000 for seven months, with a 3-month $30,000 option. The intended project and funding start date is July 1, 2010. Following the successful completion of Phase I R&D, the Ingenium-led STTR team will apply for Phase II funding, which normally entails an award of up to $750,000 and moves the project closer to commercialization. Awards of up to $5 million are typical for Phase III funding, which would result in integration of the technology into different host platforms for subsequent procurement by the Navy.
API has been involved with selected defense contractors in the design of novel energy generators to power U.S. Department of Defense (DoD) and commercial UUVs and submersibles for over two years (see API news releases of March 16, 2010 and March 2, 2010). This design work has involved the generation of superheated steam as well as hydrogen.

The API UUV hydrogen generator is based on the same powerful chemical reaction currently used in the PBIS-1000 hydrogen generator used to fill weather balloons (see API news release of April 6, 2010). In this UUV application, however, the hydrogen would be used to power a fuel cell. API's hydrogen generator has already demonstrated the start and stop capabilities of the system, similar to the steam generator.

API's President & CEO, Mr. David Cade, stated, "We are very excited to participate in the development of a UUV power system for the Navy that uses our hydrogen generation technology, which we see as the first step towards development and commercialization of our multiple power source approach for UUVs. This award has given us a wonderful opportunity to take the first step in fielding a novel power source that will offer substantial benefits compared to existing technologies. We are confident that through the combined efforts of the Ingenium team, we will be able to successfully develop and deliver such a power source, which would enhance the Navy's war fighting capabilities."

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.

Informative Video with Alumifuels CEO.