AlumiFuel Power and Italian Power Solutions Company, Genport, Provide Update on Merger Plans
Early production stage hydrogen generation company AlumiFuel Power Corporation (OTCBB: AFPW) (the "Company") announced today that the prospective merger of its Philadelphia-based operating subsidiary, AlumiFuel Power Technologies, Inc. (APTI), and Genport srl into a new U.S. corporate entity, NovoFuel, Inc., is proceeding according to plan (see AFPW news release of February 5, 2013).
The merger would combine and integrate the synergistic technologies, Intellectual Property, products, revenues, engineering staffs, manufacturing operations, marketing, sales and services activities of both companies.