Neah Power Systems and Sanmina-SCI Enter into Strategic Relationship
June 19 2008 - 9:00AM
Business Wire
Neah Power Systems, Inc., (OTCBB: NPWS), a leading developer of
fuel cells for military, industrial and consumer portable
electronic devices, announced today that it has selected
Sanmina-SCI Corporation (NASDAQ: SANM) for its engineering
development and manufacturing support in commercializing its
silicon based fuel cell systems. Sanmina-SCI is a leading systems
solutions provider serving the fastest-growing segments of the
global electronics manufacturing services (EMS) market. Joe
Bronson, President and COO of Sanmina-SCI said, �We are pleased
that Neah Power has engaged us for our engineering expertise and
manufacturing capabilities. Our customer base ranges from small
startups to global companies. We can get a product to market
expeditiously, in the most cost effective manner. We look forward
to a mutually beneficial relationship and in enabling Neah Power
Systems commercialize its proprietary fuel cell technology.� Dr.
Chris D�Couto, President and CEO of Neah Power said, �We are
enthusiastic about using Sanmina-SCI for our low run initial
production. One of the key differentiators of our product is the
ability to use the design and manufacturing prowess of a company
like Sanmina-SCI in bringing the product to market. Sanmina-SCI has
the industry-leading experience and expertise in the EMS space. We
look forward to leveraging their knowledge and skills in the design
and manufacturing areas with our core competencies and proprietary
technology around the silicon based fuel cell to provide portable
power solutions to our target markets. Neah Power is transitioning
into commercialization, and Sanmina-SCI will further accelerate the
achievement of our goals and fulfillment of the vision for the
company.� About Neah Power Neah Power Systems, Inc. (NPWS) is
developing long-lasting, efficient and safe power solutions for
portable electronic devices, including notebook PCs, military
radios and other power-hungry products. The market size for
portable power is estimated in the multi-billion dollar range by
the research group Frost and Sullivan. Neah Power uses a unique,
patented, silicon-based design for its micro fuel cells that enable
higher power densities. This enables lighter-weight, smaller
form-factors and lower cost products, as well as an outsourced
manufacturing model. 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 plans
to leverage this characteristic unique to its porous silicon
technology to pursue these anaerobic applications, addressing a
market whose needs are currently not being met. Further company
information can be found at www.neahpower.com. About Sanmina-SCI
Corp. Sanmina-SCI Corporation is a leading electronics contract
manufacturer serving the fastest-growing segments of the global
Electronics Manufacturing Services (EMS) market. Recognized as a
technology leader, Sanmina-SCI provides end-to-end manufacturing
solutions, delivering unsurpassed quality and support to OEMs
primarily in the communications, defense and aerospace, industrial
and medical instrumentation, multimedia, computing and storage, and
automotive technology sectors. Sanmina-SCI has facilities
strategically located in key regions throughout the world. More
information regarding the company is available at
http://www.sanmina-sci.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. 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.
Sanmina (NASDAQ:SANM)
Historical Stock Chart
From May 2024 to Jun 2024
Sanmina (NASDAQ:SANM)
Historical Stock Chart
From Jun 2023 to Jun 2024