BOTHELL, Wash., July 31, 2009 - Neah Power Systems (OTCBB:NPWZ - News) www.neahpower.com, the company leading development in fuel cells for the military and portable electronic devices, will develop methanol fuel cell battery chargers to enable the building, by EKOVEHICLES of Bangalore India, www.ekovehicle.com, of Hybrid Electric Renewable Micro Energy Stations (HERMES), bringing renewable, green energy to thousands of villages in India. This innovative technology will use a combination of clean solar and wind power, fuel cells and batteries to replace the very polluting diesel generators that currently provide electricity for the more than 50,000 Indian villages located 200 miles or more off the grid.
Neah has signed a Letter of Intent (LOI) with EKOVEHICLES, India's number one producer of two-wheeled electric vehicles, to supply methanol fuel cell battery chargers, for renewable distributed energy stations, in addition to developing and providing on-board methanol fuel cell battery chargers for their line of battery-powered electric scooters, based on Neah's novel direct methanol fuel cell.
"Being able to bring clean, renewable, non-polluting power to thousands of Indian villages is a great privilege, and quite in alignment with Neah's business plan. We have always been focused on improving the quality of life through the creative use of our advanced technology," Dr. Chris D'Couto, Neah's CEO, said. "This distributed energy offering is an attractive solution where power is needed for off-the-grid applications."
Mr. Anil Ananthakrishna, Chairman and Chief Executive Officer of EKOVEHICLES Pvt. Ltd., said, "EKOVEHICLES, India's pioneering manufacturer of Electric Vehicles, is introducing various alternatives to the existing petrol powered two wheelers, as well as introducing clean energy based power generation solutions. EKO's mission is to improve the lives of our customers in India and throughout the world with our pollution-free products. This is indeed a breakthrough for India, and eventually all countries that desire clean, renewable energy in rural areas."
About NEAH Power
NEAH Power Systems, Inc. (NPWZ) is developing long-lasting, efficient and safe power solutions for the military and for portable electronic devices. NEAH uses a unique, patented, silicon-based design for its micro fuel cells that enable higher power densities, lower cost and compact form-factors. The company's micro fuel cell system can run in aerobic and anaerobic modes.
Further company information can be found at www.neahpower.com.
Forward-Looking Statements
This press release contains forward-looking statements and made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Review previous filings for information about other forward-looking statements. 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. Factors that might cause such material difference include, among others, our limited operating history, potential research and prototype delays, difficulties in developing and commercializing new technologies.
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