Shares of AlumiFuel Power Corp. are soaring in today’s trading after the company’s wholly owned operating subsidiary, AlumiFuel Power Inc. announced the receipt of a U.S. Air Force contract for PBIS-2000 Portable Balloon Inflation System.
At last check, AlumiFuel Power shares were trading 100% higher at $0.003, with volume up from daily average of 2.70 million to 50.9 million.
AlumiFuel Power said that it believes the initial purchase will lead to additional units for operations throughout the world. Additionally, the company has also been approached by other military and meteorological users from the U.S., NATO and around the world.
The contract with the U.S. Air Force requires the company to deliver the system by the end of February 2012. Commenting on the contract, David Cade, president and CEO of AlumiFuel Power, said that the Air Force award validates the company’s unique Portable Balloon Inflation System technology and products. Cade said that the PBIS-2000 is a major addition to the company’s PBIS family and the system not only fill an existing gap for much larger weather balloons but also represents a significant advancement in the state of hydrogen generation technology.
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