SEATTLE, April 21, 2009 (GLOBE NEWSWIRE) -- NEAH Power Systems, Inc., (OTCBB:NPWS), the Company developing fuel cells for the military and portable electronic devices, announced today it has signed a technology license agreement with Hobie Cat Company, manufacturer of world-class sail and fishing boats, to jointly explore utilizing the Company's patented, silicon-based fuel cells to power Hobie Cats' various boat products. NEAH's fuel cells use renewable methanol, a cost efficient, sustainable and "green" mode of energy. Dr. Chris D'Couto, NEAH's President and Chief Executive Officer, noted that NEAH fuel cells operate in both aerobic and anaerobic manner, which applies directly to Hobie's water environment. "Our micro fuel cells may eventually replace batteries for most uses," D'Couto said, "meaning that cost-efficient and "green" technology is at hand to not only preserve the environment, but to provide nearly perpetual power to the military, manufacturers of almost any product that require an energy source, and to the millions of consumers who require energy on the go."
Doug Skidmore, President of Hobie Cat, said that when NEAH's fuel cells become operation in his products, it opens up new doors for his company's business, which includes its eponymous surfboards, sailboats, kayaks, its new Mirage Drive(tm) ProAngler fishing boats, introduced February 19, 2009, and peripheral products. Hobie boats and peripheral products are sold around the world, with dealers in Australia, Europe, Brazil, Africa, the Middle East & West Asia.
About NEAH Power
NEAH Power Systems, Inc. (NPWS) 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.
About Hobie
Hobie Cat, located at 4925 Oceanside Blvd., Oceanside, CA 92056, info@hobiecat.com, was created by Hobie Alter in 1950, as a manufacturer of advanced technology surfboards. The Company has since grown to include sailboats, fishing boats, kayaks, a patented "Mirage Drive(tm)" propulsion unit, and peripheral products sold around the world.
Further company information can be found at www.neahpower.com, and www.hobiecat.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.