Neah Power Systems Provides Update on Contract With Ion Geophysical Corporation, CEO Provides Video Update
June 10 2013 - 9:15AM
Marketwired
Neah Power Systems, Inc., (OTCBB: NPWZ) http://www.neahpower.com, a
developer and provider of power solutions using proprietary, award
winning technology for the military, transportation, and portable
electronics markets using the PowerChip™ and the PowerPlay™
products, announced today that the Company has continued to make
significant progress with the PowerChip™ product development for
Ion Geophysical Corporation. The mutually exclusive, paid
development contract with Ion Geophysical Corporation was
previously announced in a Form 8-k filed with the SEC on January
29, 2013. This contract is for the development of a fuel cell based
underwater application, in lieu of lithium - ion batteries and
other power sources.
As part of the contract with Ion Geophysical Corporation, Neah
has implemented a manufacturing partnership with a MEMS foundry
supplier for high volume manufacturing of the PowerChip fuel cells.
Additionally, the Company has made significant progress on the
design and development of the product for Ion Geophysical
Corporation. Dr. Chris D'Couto, President of Neah Power Systems,
provided a video interview about this which can be viewed in its
entirety at the link below.
http://www.smallcapepicenter.com/beyondthepressrelease/AGORACOMNeahPowerSmallCapSkype-8May2013-IonUpdate/
Please visit the Neah Power Systems Investor Relations Hub on
AGORACOM (http://agoracom.com/ir/NeahPowerSystems) to ask questions
and receive answers in near real-time.
Forward-Looking Statements Certain of the
statements contained herein may be, within the meaning of the
federal securities laws, "forward-looking statements," which are
subject to risks and uncertainties that could cause actual results
to differ materially from those described in the forward-looking
statements, and the Company does not undertake any responsibility
to update any of these statements in the future. Please read Neah
Power System's Form 10-K for the fiscal year ended September 30,
2012 and its Quarterly Reports on Form 10-Q filed with the SEC
during fiscal 2013 for a discussion of such risks, uncertainties
and other factors.