The company's working micro fuel cell prototype, which was demonstrated on September 28, 2007, runs as a closed-loop system without requiring air as an oxidant. As Neah Power pursues the broader military market for fuel cells, it will leverage this characteristic unique to its porous silicon technology to pursue these anaerobic applications, addressing a market whose needs are currently not being met. "One of Neah Power's key strengths is its unique porous silicon architecture that not only gives high power densities, but also has the ability to run with on-board oxidant as well as on-board fuel," said Dan Rosen, Executive Chairman of Neah Power. "Our customers report they want to exploit this unique capability and design products that address 'no-air' needs such as underwater, underground, close quarters, high altitude, no atmosphere, etc. This market entry strategy using an application where there is a critical need, should enable us to have a quicker adoption, while Neah Power continues to pursue the broader air breathing market, including military applications such as BA-5590 replacement. Our soldiers deserve a lighter power source."
The military market for fuel cell is estimated to exceed $2.5B in 2012 according to the research report: "Micro Power Sources, Opportunities from Fuel Cells and Batteries for Mobile Applications", prepared by NanoMarkets. Neah Power is the only company that is using porous silicon to pursue this market opportunity. As previously announced by the company, porous silicon has the advantage of being able to be manufactured into fuel cells using the processing capability of the silicon industry.
About Neah Power
Neah Power Systems, Inc. is a leading developer of fuel cells for military applications, notebook computers and portable electronic devices. The company's patented, porous silicon-based design will provide long-lasting, efficient and safe power solutions. As an emerging leader in fuel cell technology, Neah Power's products will allow users to extend the operating time of 10 to 100 watt devices multiple times beyond that of conventional batteries. Further company information can be found at our website www.neahpower.com.
Forward-Looking Statements
Except for statements of historical fact, the matters discussed in this press release are forward looking and made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond the company's control that may cause actual results to differ materially from stated expectations. These risk factors include, among others, limited operating history, research and prototype delays, difficulties in developing and commercializing new technologies, and additional risk factors as discussed in the reports filed by the company with the Securities and Exchange Commission, which are available on its website at http://www.sec.gov.
SOURCE: Neah Power Systems, Inc.
Investor Awareness, Inc. Lindsay Kenoe 847-945-2222 ir@neahpower.com
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