Neah Power to Offer Customers Licenses to Manufacture Fuel Cells
Press Release Source: Neah Power Systems, Inc. On Wednesday October 19, 2011, 8:30 am EDT
BOTHELL, WA--(Marketwire -10/19/11)- Neah Power Systems Inc. (OTC.BB: NPWZ.OB - News) announces that it has added a strategic component to its business model by offering licenses to potential customers to manufacture Neah's patented, award winning PowerChip™ technology. Traditionally, Neah Power has focused on an outsourced manufacturing business model. The shift to emphasize a licensing strategy is intended to further leverage existing third-party manufacturing capacity in the semiconductor industry.
Dr. Chris D'Couto, CEO Neah Power Systems, said, "The ability to use existing, low cost, third-party factories to manufacture our PowerChip™ technology is a key differentiator between our fuel cells and incumbent Proton Exchange Membrane (PEM) products. Our licensing strategy is a powerful competitive tool particularly for customers who have access to their own computer chip manufacturing capacity. Because our products can be manufactured with existing equipment used in the semiconductor industry, licensing allows potential customers to leverage current manufacturing facilities without significant capital outlays for new equipment. We believe this manufacturing capacity, along with the longer fuel cell life, higher power density (power per unit area) and anaerobic (non-air) functionality of our PowerChip™ technology provides us with competitive advantages over PEM-based fuel cells."
About Neah Power
Neah Power Systems, Inc. is developing long-lasting, efficient and safe power solutions for the military, transportation, and for portable electronics applications. We use a unique, patented, award winning, silicon-based design for our PowerChip™ micro fuel cells that enable higher power densities, lower cost and compact form-factors, and that can run in aerobic and anaerobic modes.
Neah Power is headquartered in Bothell, Washington, and its common stock trades on the OTC Bulletin Board under the symbol "NPWZ." Further company information can be found at http://www.neahpower.com.
Certain of the statements contained herein may be, within the meaning of the federal securities laws, "forward-looking statements," including as to the effectiveness and cost savings from any system that we may develop, and viability and acceptance of our products and technology. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
These risks include, but are not limited to availability of manufacturing capacity, our ability to successfully develop systems to meet customers' specifications, market acceptance of our products, competitive factors, changes in the regulatory environment, and other risks and uncertainties set forth in our periodic filings with the U.S. Securities and Exchange Commission (including our Form 10-K for the fiscal year ended September 30, 2010). These forward-looking statements are based on management's expectations as of the date hereof, and we do not undertake any responsibility to update any of these statements in the future
Chief Financial Officer
Neah Power Systems, Inc.
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