Press Release November 24, 2009

AlumiFuel Power, Inc.'s Technology Showcased at Naval Energy Forum

AlumiFuel Power Corporation (OTCBB: AFPW), announced today that its technology generated considerable customer interest at the Naval Energy Forum in McLean, Virginia, October 14-15, 2009.

The Naval Energy Forum was the first such major conference strictly focused on energy to be conducted within the Department of Defense. The event was attended by over 700 people from government and industry. Key speakers included the Secretary of the Navy, Ray Mabus, the Chief of Naval Operations, Admiral Gary Roughead, and the Commandant of the Marine Corps, General James Conway. All three characterized energy as being critical to U.S. national security and naval capabilities around the globe. The four key themes of the forum were: energy security, energy efficiency, environmental stewardship, and energy science and technology (S&T). Energy S&T is an enabling factor for achieving the Navy’s energy goals and objectives, and in this regard, the Office of Naval Research (ONR) invests in a wide range of energy S&T projects which will increase naval capabilities through advancements in fuels, renewable energy, power generation, storage and distribution, and power loads.

The API team attending the forum made or reinforced many key customer contacts, and found significant interest in the company’s technology for a variety of target applications, including undersea vehicle propulsion, feeding fuel cells for on-demand remote power generation, lift gas for special purpose naval balloons, hydrogen boost for diesel engines, flameless heaters for military rations (Meals Ready to Eat, or MREs), and the combustion source for a Navy “hydrogen gun.” API submitted three white papers, and follow-up contacts and meetings were arranged for each of these applications areas.

API’s President and Chief Executive Officer, Mr. David Cade, said, “The visibility accorded to API’s unique technology at the Naval Energy Forum was extremely gratifying. Going forward, we see a number of ways to apply our technology and products to naval requirements, including both the 'blue water' Navy and the Marine Corps. From a new business development standpoint, we intend to take full advantage of these emerging opportunities.”

CENTENNIAL, Colo.--(BUSINESS WIRE)--AlumiFuel Power Corporation (OTCBB: AFPW), (the “Company”) and its early production stage hydrogen generation company AlumiFuel Power, Inc. (“API”), of Philadelphia, Pennsylvania announced today that in view of the recent development that the Company is developing a product addressable to the multi-million dollar sports and MRE (meals ready to eat) market, Senior Analyst Robert Goldman has issued an update affirming the 'Speculative Buy' rating with a price target of $0.40.
According to OxBridge Research, the Report will be of special interest to MRE manufacturers and companies like Ener1 Inc. (HEV), Ballard Power (BLDP), Fuel Cell Energy (FCEL) and Plug Power (PLUG) that are active in the Renewable Energy Sector. The Report outlines the Company's recently signed MOU with a DOW 30 company and illustrates the Company's technology has both Civilian and Military applications and could be adapted at a rapid pace.

New Press Release.

AlumiFuel Power Corporation (OTCBB: AFPW), (the “Company”), announced today that it is developing a new hand-held flameless heating device with several commercial application possibilities.
The flameless heating device uses packets of API’s patented mixture of aluminum powder and proprietary additives. Upon reacting with water, the packets release hydrogen gas, which then pass through various surfaces and chemicals that induce a flameless reaction of hydrogen with the oxygen from the air, resulting in the release of heat. Furthermore, the exothermic nature of the aluminum-water reaction results in the production of additional heat. The components will be integrated into convenient wallet-sized packaging. The system will feature no moving parts or toxic components and will be safe, portable, and easy to use. Each packet will generate heat for over an hour at rates that will allow this device to be safely held in bare hands. Furthermore, as no carbon monoxide is released as a result of the reaction, the system is safe to use in any environment. The packets used in this process can be easily discarded after use.

Source- http://finance.yahoo.com/news/AlumiFuel-Power-Inc-bw-61560619.html?x=0&.v=1

AlumiFuel Power, Inc. Begins Manufacture of Its Portable Balloon Inflation System (PBIS-1000) at Apex Piping Systems, Inc.

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 begun the manufacturing of its third-generation portable balloon inflation system (PBIS-1000). This will be API’s first commercially available product.

The new reactor is a lighter more ruggedized version of its predecessor with the same hydrogen generating ability (see API’s press release of August 3, 2009). A detailed Operations and Maintenance Manual for the PBIS-1000 has also been completed and will be available to customers. The majority of the PBIS-1000 manufacturing will take place at APEX Piping Systems, Inc., a large world class welding and manufacturing facility in nearby Delaware. While the PBIS-1000 will be manufactured at limited quantities initially, working with such a major firm as APEX will allow a rapid and seamless increase in production volume later in the year. These larger quantities will reduce the overall cost of the reactors going forward.
API’s Director of Engineering, Mr. Sean McIntosh, said: “We are excited to begin manufacturing the first production units of the PBIS-1000. We have spent a great deal of time and energy developing this new product, which will be the foundation for designing and producing many new and exciting hydrogen generators to serve a multitude of applications far beyond weather balloons."

Pre-Production Prototype Reactor.

New Research report by Senior Analyst Robert Goldman. Price target of 0.40…WOW.

Read full Report- www.oxbridgeresearch.com/docs/AFPW2.pdf

AlumiFuel Power, Inc. Signs Memorandum of Understanding with Major Aerospace Company

The full Press Release can be read by clicking Here- http://finance.yahoo.com/news/AlumiFuel-Power-Inc-Signs-bw-1731668952.html?x=0&.v=1

Two Technologies one Company, Best Deal on the OTC.

AlumiFuel Power Corporation, formerly known as Inhibiton Therapeutics, Inc., recently acquired the wholly owned operating subsidiary AlumiFuel Power, Inc., a Philadelphia-based early production stage alternative energy company that generates hydrogen gas and steam for multiple niche applications requiring on-site, on-demand fuel sources. The Company also has been conducting biotechnology research, development and potential commercialization of technologies and products for new cancer therapeutic agents and cancer fighting drugs called targeted therapies.

AFPW.OB is clearly a company on the move, recent press releases tell of quad tripling of laboratory space. First product to begin initial production. The hiring of new investor relations. The strong management and numerous niche markets make Alumifuel Power Corp a very attractive investment.

Want More? Check out the new Investor Relations website -http://irgnews.com/coi/AFPW

Web-site- http://www.alumifuelpowerinc.com/