AlumiFuel Power, Inc. Highlights Size of Addressable Markets

CENTENNIAL, Colo.--Early production stage hydrogen generation company AlumiFuel Power, Inc. (“API”), the Philadelphia, Pennsylvania-based wholly owned operating subsidiary of AlumiFuel Power Corporation (OTCBB: AFPW) (the “Company”), provided additional information today on the size of the target markets for its on-site, on-demand hydrogen and superheated steam generation technology and products.

The global hydrogen market is about $2.5 billion and growing at a rate of 16% per year. The U.S. share is $1.6 billion, while Europe is at $740 million. This market includes hydrogen generation, storage, distribution and dispensing devices. However, it is important to note that these numbers do not reflect market applications presently using older technologies which could be replaced by hydrogen-based systems and products. Included in this category are the following markets which are being aggressively pursued by API:

$8 billion market for back-up and auxiliary power consisting of fossil-fuel generators and batteries -- which are ripe for being supplanted by portable and stationary fuel cells powered by hydrogen.
$150 million market for weather balloons, about $75 million of which is spent on the actual lift gas, now transitioning from scarce helium to abundant and lighter hydrogen.
$75 million market for Flameless Ration Heaters (FRHs) for military and commercial Meals-Ready-to-Eat (MRE) applications which today use magnesium-based powders that are inferior to aluminum-based powders in terms of performance and cost. Moreover, this number does not include a large emerging European military market for FRHs.

In a similar category, there is a large ($3 billion) and rapidly growing maritime market for Unmanned Underwater Vehicles (UUVs) and submersibles, which presently are being served by battery technologies and products. The use of API’s superheated steam to drive turbines for underwater propulsion increases the operating time and distance over batteries by a factor of 4-5, very significant in terms of mission-critical performance. API is collaborating with several major defense industry players in developing and fielding this technology for naval and commercial customers.

API’s other target hydrogen markets include the following:

$50 million market for K-Cylinder replacement. This entails lining up industrial gas distributors who will have customers that would prefer API’s PBIS-1000 portable hydrogen generator (see API news release of February 9, 2010) to bulky and pressurized K-Cylinders for field applications, particularly in remote and inaccessible locations.
$200 million market for international licensing. This entails licensing API’s intellectual property (patents and proprietary know-how) to partners in Europe and Asia for applications in those geographic regions.
$125 million market in special defense applications. API is working with several companies in addressing new mission-critical applications which are made possible by the use of API’s unique technology as a breakthrough.

API’s President and Chief Executive Officer, Mr. David Cade, said, “We are very fortunate to have so many possible market applications for our technology and products, and the industry partners to help us penetrate these markets. However, we can’t do everything at once, so it is important for us to stay focused on those applications which have the highest likelihood of success and can have the biggest impact on shareholder value -- and we intend to continue doing just that.”

About AlumiFuel Power, Inc.

API (www.alumifuelpowerinc.com) is an early production stage alternative energy company that generates hydrogen gas and superheated steam through the chemical reaction of aluminum, water, and proprietary additives. This technology is ideally suited for multiple niche applications requiring on-site, on-demand fuel sources, serving National Security and commercial customers. API’s hydrogen feeds fuel cells for portable and back-up power, fills inflatable devices such as weather balloons, and can replace costly, hard-to-handle and high pressure K-Cylinders. Its hydrogen/heat output is also being designed and developed to drive turbine-based underwater propulsion systems and auxiliary power systems, and as the fuel for Flameless Ration Heaters. API has significant differentiators in performance, adaptability, safety and cost-effectiveness in its target market applications, with no external power required and no toxic chemicals or by-products. For more news and information on API, please visit www.irgnews.com/coi/AFPW.

About AlumiFuel Power Corporation

AlumiFuel Power Corporation, formerly known as Inhibiton Therapeutics, Inc., recently acquired its wholly owned operating subsidiary AlumiFuel Power, Inc., a Philadelphia-based early production stage alternative energy company that generates hydrogen gas and steam for multiple niche applications requiring on-site, on-demand fuel sources. The Company also has been conducting biotechnology research, development and potential commercialization of technologies and products for new cancer therapeutic agents and cancer fighting drugs called targeted therapies.

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.