API announced today that is has been positioned to aggressively move into the commercialization stage in early 2010, as one product is now entering the marketplace and another product is ready for market entry.
API’s President and Chief Executive Officer, Mr. David Cade, said, “It is very gratifying to note that with our strong engineering development focus, we are at the forefront of commercializing this aluminum-water hydrogen generating technology, which in many instances is still a laboratory curiosity. We have successfully harnessed this technology for on-site, on-demand, real world hydrogen applications, embodied in real products for real customers. I am extremely proud of our superb technical team which has made this happen, and we are now looking forward to an unbroken string of successes in our target markets.”
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AlumiFuel Power Corporation, formerly Inhibiton Therapeutics, Inc., is a development-stage company. The Company is focused on the research and development of new cancer therapeutic agents and cancer fighting drugs called targeted therapies. These new drugs identify molecular causes of cancer and inhibit the signals that cancer cells need to multiply. In May 2009, the Company completed the acquisition of HPI Partners, LLC (HPIP) and its operating subsidiary, AlumiFuel Power, Inc. (API) of Philadelphia, Pennsylvania. API is an alternative energy company that generates hydrogen gas and steam for multiple niche applications requiring onsite, on-demand fuel sources. API’s hydrogen drives fuel cells for back-up, remote, and portable power, fills inflatable devices, such as weather balloons.
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