AlumiFuel Power Corp. (OTCMKTS: AFPW) appointed Ryan Schadel as president and CEO, effective this month. He succeeds Henry Fong, who passed away in December.

Schadel founded industrial staffing provider Labor Smart (OTCMKTS: LTNC) in 2011 and has 17 years’ experience in the staffing industry. He will remain in his role as president and CEO of Labor Smart.

Centennial, Colo.-based AlumiFuel Power entered the temporary staffing industry last fall when it formed Energy Staffing Solutions Inc. and acquired two staffing business units from Labor Smart. And this week, the company launched a new wholly owned subsidiary Grind Staffing Solutions Inc., a cannabis industry staffing provider.

Based in Denver, Colo., Grind Staffing Solutions will target markets including marijuana growers, dispensaries and cannabis eateries. Nikki Mantoot will serve as president.

“This is one of many opportunities that have been identified as part of my plan to turn around AlumiFuel and restructure it as a diversified holding company,” Schadel said. “I am excited about the potential that Grind Staffing Solutions Inc. represents for the company and its co-owners.”

AlumiFuel also this week provided an update on the company’s strategic priorities and highlights from its turnaround plan under Schadel. The company has identified immediate growth opportunities in the staffing industry. In addition to Grind Staffing Solutions, in the first quarter the company seek to launch a staffing division focused on the broader, skilled and semi-skilled light industrial staffing segment.