AlumiFuel Power Corporation announced that its wholly owned operating subsidiary, AlumiFuel Power Technologies Inc., has signed a Technology Development Agreement with Genport North America (GNA). The provisions of the TCA include the establishment of a U.S.-based Joint Venture 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: APTI's AlumiFuel powder and cartridge-based hydrogen generation for fuel cell power, weather balloon lift gas and Unmanned Undersea Vehicle power; and 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.