CENTENNIAL, CO -- February 13, 2017 -- InvestorsHub NewsWire --
AlumiFuel Power Corporation (AFPW) ("AlumiFuel" or the
"Company") today provided an update on the Company's strategic
priorities and highlights from its turnaround plan under new CEO,
Ryan Schadel.
The Company's four point turnaround plan calls for focus on:
- Revenue growth from wholly owned subsidiary Energy Staffing
Solutions, Inc.
- Expanding opportunities in the staffing sector
- Launch or acquire businesses that complement the Companys
portfolio
- Review of the intellectual property and its potential within
NovoFuel
Energy Staffing Solutions, Inc.
The Company has 2 staffing units operated by wholly owned
subsidiary, Energy Staffing Solutions. These units are revenue
generating and are expected to produce at least two million dollars
in top line sales in 2017.
The Company has identified immediate growth opportunities in the
staffing industry. The Company believes there are scalable
opportunities in this growing sector. During the first quarter of
2017, the Company will seek to launch two new staffing divisions.
One will focus on the broader, skilled and semi-skilled light
industrial staffing segment. The other will focus on a niche
specialization.
NovoFuel, Inc.
The Company is reviewing its patented renewable energy
technologies and lithium-ion batteries offered by NovoFuel. After a
thorough review of the intellectual property and its potential, the
Company will seek to capitalize on the value proposition from this
subsidiary.
Some identified markets that offer potential for this technology
are fuel cells for home and backup power and power generation for
marijuana grow facilities. As more states legalize marijuana, more
growers are coming to market and the wholesale cost per pound
continues to drop. The Company believes marijuana growers may
benefit from a low cost energy solution provided by NovoFuel's
patented technology.
Ryan Schadel, Chief Executive Officer of AlumiFuel commented,
"The initiatives 'Im putting in place are focused on producing
short term results that will make a meaningful impact on the
financial direction of the Company and the viability of its
business interests. Execution of my 90 day plan and achievement of
short term goals are necessary to position the Company for bigger,
long term opportunities."
Mr. Schadel continued, "One of the key pillars of the new
strategy is to change the way weve been doing business and how we
allocate capital investments in operating subsidiaries. To reflect
this change I anticipate restructuring the Company into a holding
company and effectuating a name change. I expect the timing of this
to coincide with getting the financials current with the SEC, which
I am pushing to have completed before mid-March 2017."
As a holding Company, AlumiFuel will have two primary business
purposes.
1. Strategically invest in expansion opportunities in the
businesses we operate.
2. Launch and acquire companies that complement or supplement
the businesses in our portfolio.
"I am excited about the opportunity to turn this Company around
and deliver value to its co-owners. I believe we can build
something substantial that will make everyone proud to be a
co-owner. I look forward to delivering the results necessary and
communicating our progress in an open and transparent manner,"
added Mr. Schadel.
Safe Harbor for Forward-looking Statements:
This news release may contain forward-looking statements that
are made pursuant to the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. While these statements
are made to convey to the public the company's progress, business
opportunities and growth prospects, they are based on management's
current beliefs and assumptions as to future events. However, since
the company's operations and business prospects are always subject
to risk and uncertainties, the forward-looking events and
circumstances discussed in this news release might not occur, and
actual results could differ materially from those described,
anticipated or implied. For a more complete discussion of such
risks and uncertainties, please refer to the company's filings with
the Securities and Exchange Commission.
CONTACTS:
AlumiFuel Power Corporation
641-715-3900 x385402
