AlumiFuel, Genport to form JV for technology development
Nov 29, 2012 - US hydrogen producer AlumiFuel Power Corp (OTCBB:AFPW) yesterday said its wholly-owned unit AlumiFuel Power Technologies has agreed to form a technology development joint venture (JV) with the US unit of Italian hybrid power sources provider Genport Srl.
The partners plan to integrate their technologies, intellectual property, products, revenues, enegineering staffs, manufacturing, marketing, sales, and services operations in their joint entity, which will seek opportunities in the US, Europe and other markets.
Under the JV, the two companies will engineer and develop an integrated 5-kW backup power system for telecommunications facilities. The system will use AlumiFuel's hydrogen generation technology to provide fuel for Genport's fuel cell power systems. They will also develop smaller scale backup portable units for emergency services, homeland security, anti-terrorist operations and dismounted soldiers, AlumiFuel added.