AlumiFuel Power Inc. (NYSEMKT:API), subsidiary of AlumiFuel Power Corporation (OTCBB: AFPW), is an early production stage hydrogen generation company. The company announced today that it has signed a comprehensive partnership agreement with Ingenium Technologies Inc., 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, AlumiFuel Power’s technology provides the power to drive turbines, fuel cells and/or thermoelectric converters in power plants designed, engineered, and/or integrated by Ingenium Technologies.
In addition to its engineering expertise, one of Ingenium’s strengths is marketing and business development involving military and commercial customers. AlumiFuel recently won a Navy contract to use its hydrogen technology to power future UUVs. The two companies intend to target selected Department of Defense, Department of Homeland Security, and commercial customers both here in the United States and in Europe.
AlumiFuel Power’s chief technology officer, John Boyle, commented on the partnership agreement. He 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.”
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