AlumiFuel Power Signs Technology Cooperation Agreement With

AlumiFuel Power Signs Technology Cooperation Agreement With
Multinational Hybrid Power Sources Company 
First Step in Forming Joint Venture With Global Reach 
PHILADELPHIA, PA -- (Marketwire) -- 11/28/12 --  Early production
stage hydrogen generation company AlumiFuel Power Corporation (OTCBB:
AFPW) (the "Company"), announced today that its wholly owned
operating subsidiary, Philadelphia-based AlumiFuel Power
Technologies, Inc., has signed a Technology Development Agreement
with Genport North America (GNA), the U.S. subsidiary of the Italian
hybrid power sources company, Genport srl. 
The provisions of the TCA include the establishment of a U.S.-based
Joint Venture (JV) which would combine and integrate the
technologies, Intellectual Property, products, revenues, engineering
staffs, manufacturing operations, marketing, sales and services
activities of both companies. The focus of the JV is to
synergistically pursue and capture backup and portable power
applications and business opportunities in the U.S., Europe, and
other market areas -- multi-billion dollar markets. The JV would
encompass the following capabilities of both companies: (1) APTI's
AlumiFuel powder and cartridge-based hydrogen generation for fuel
cell power, weather balloon lift gas and Unmanned Undersea Vehicle
power; and (2) Genport/GNA's fuel cell power systems, hydrogen
generation and storage systems, solar cells and lithium-ion battery
packs. Genport/GNA's current flagship product is the G300 Hybrid Fuel
Cell, a CE marked 400 Watt system that can take energy inputs from
hydrogen, solar panels and lithium-ion battery packs and deliver
electricity for a variety of applications including military,
emergency, telecommunications, PCs, battery charging, electro-medical
devices, stationary micro-grids, and auxiliary power. 
In accordance with the JV, the two companies would commit to the
engineering development of an integrated 5kW backup power system for
telecom facilities, using APTI's hydrogen generation technology to
provide the fuel for GNA's fuel cell power systems, also in
conjunction with GNA's other renewable power sources. Smaller scale
units (300W-1kW) based on the existing G300 Hybrid Fuel Cell would
also be developed for emergency services/first responder applications
aimed at natural disasters, homeland security, anti-terrorist
operations, and dismounted soldiers. The fielding of such backup and
portable power systems would help ease the severity of
telecommunications power outages such as those recently experienced
during Superstorm Sandy in the Northeastern U.S. 
AlumiFuel Power Technologies' President & CEO, Mr. David Cade, said:
"We are very excited and enthusiastic about establishing this
partnership arrangement. The powerful and synergistic combination of
technologies provides a tremendous new launch pad into a variety of
advanced alternative energy applications and products that will have
worldwide applicability." 
GNA's Chief Executive Officer, Mr. Paolo Fracas, said: "We are
establishing a unique partnership in the US as well as in Europe, and
I believe our collaboration will have a relevant impact for the rest
of the world. Portable electronics and micro-grids users are strongly
demanding power solutions which the integration of GNA and APTI
technologies make possible. Going forward, introducing our new
combined power extended run-time fuel cells for various critical
mission applications offers tremendous new market opportunities for
About AlumiFuel Power Corporation ( 
AlumiFuel Power Corporation, operating through its wholly owned
subsidiary, AlumiFuel Power Technologies, Inc., 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. The Company'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. The Company
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 Genport/GNA (
 Genport srl is an alternative
energy advanced power solutions company based nearby Milan, Italy,
with a U.S. subsidiary, Genport North America Corp. (GNA), located in
West Lafayette, Indiana. Genport/GNA is focused on providing clean,
safe, reliable and high performance portable power sources for
medical, defense, emergency, telecommunications, and industrial
applications. Genport/GNA's solutions are designed to store and
generate electrical energy anytime, anywhere. Genport combines solid
hydrogen PEM fuel cell, lithium ion battery and solar cell
technologies to: provide a constant, reliable source of power;
maximize power and energy density; eliminate noise, emissions and
operate in extreme environmental conditions. Genport/GNA's technology
partners include Milan Polytechnic, Texas Instruments, Arbin
Instruments, four European companies, and Purdue University.  
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 act
ual 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 Investor Relations:
AlumiFuel Power Corporation
Thomas B. Olson
Corporate Secretary
Technical Information & Marketing:
Genport srl
Via Lecco, 61
20871 Vimercate (MB) - Italy
+39 039 639 6500 
Genport North America Corp.
1281 Win Hentschel Blvd.
West Lafayette, IN 47906
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