AlumiFuel Power, Inc. Begins Manufacture of Its Portable Balloon Inflation System (PBIS-1000) at Apex Piping Systems, Inc.

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"), announced today that it has begun the manufacturing of its third-generation portable balloon inflation system (PBIS-1000). This will be API's first commercially available product.

The new reactor is a lighter more ruggedized version of its predecessor with the same hydrogen generating ability (see API's press release of August 3, 2009). A detailed Operations and Maintenance Manual for the PBIS-1000 has also been completed and will be available to customers. The majority of the PBIS-1000 manufacturing will take place at APEX Piping Systems, Inc., a large world class welding and manufacturing facility in nearby Delaware. While the PBIS-1000 will be manufactured at limited quantities initially, working with such a major firm as APEX will allow a rapid and seamless increase in production volume later in the year. These larger quantities will reduce the overall cost of the reactors going forward.

API's Director of Engineering, Mr. Sean McIntosh, said: "We are excited to begin manufacturing the first production units of the PBIS-1000. We have spent a great deal of time and energy developing this new product, which will be the foundation for designing and producing many new and exciting hydrogen generators to serve a multitude of applications far beyond weather balloons."

About Apex Piping Systems

Apex Piping Systems, Inc. (www.apexpiping.com) is a World Class fabricator of piping systems, skid modules, specialty fabrications and reactor vessels serving the Petro-Chemical, Air Separation, Nuclear, Hydrogen Fuel Cell, Gas Turbine, Bio-Fuel and other related industries. Their headquarters is located in Newport, Delaware, conveniently located off of Interstate 95, with close access to barge and rail transport. Their main engineering and manufacturing facility spans over 60,000 square feet, and features a world class 35,000-square-foot ASME code process pipe and pressure vessel fabrication shop. The company holds ASME "U," "PP," "S," and NBIC "R" code stamp authorizations, and is certified by TUV SUD America to the European Pressure Equipment Directive (PED) and ISO ISO 9001:2000.

About AlumiFuel Power, Inc. (API)

API (www.alumifuelpowerinc.com) is an early production stage alternative energy company that generates hydrogen gas and superheated steam for multiple niche applications requiring on-site, on-demand fuel sources, serving National Security and commercial customers. API's hydrogen drives 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/steam output is also being designed and developed to drive turbine-based underwater propulsion systems and auxiliary power systems. 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 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.