BOTHELL, Wash., Jan. 13, 2010 (GLOBE NEWSWIRE) -- Neah Power Systems, Inc. ('Neah') (OTCBB:NPWZ) www.neahpower.com, the company developing fuel cell-based renewable energy solutions, announced today that the Washington Technology Industry Association (WTIA) named it a finalist for Innovative Manufactured Product of the Year as part of its 15th annual Industry Achievement Awards (IAA). The awards recognize Washington State companies, organizations and students who best demonstrate technology and service innovation and excellence. To get more information and to register for the event, go to: www.washingtontechnology.org/IAA.
Neah Power was recognized for its innovation in the development of the most competitive fuel cell and fuel cell-based renewable energy solutions through its breakthrough technology and differentiated manufacturing model. The Company's fuel cells are designed to replace existing rechargeable battery technology in mobile electronic devices. The Company focuses on the development of silicon-based fuel cells for military application and portable electronic devices. The Company has developed a direct methanol micro fuel cell that can serve as a replacement for batteries in a range of mobile products.
"We had a terrific group of applicants for this year's Industry Achievement Awards. The finalists demonstrate once again the incredible creativity and innovation going on across all sectors of our industry," said Ken Myer, president and CEO of the WTIA. "We congratulate all the finalists and look forward to unveiling the winners in March."
"We are pleased and honored to receive this recognition from such an esteemed organization. This is further proof that our differentiated, IP - protected technology, our capital efficient manufacturing model, and our cost effective products can meet and exceed the needs of our customers," said Dr. Chris D'Couto, President and CEO of Neah Power Systems. "We are grateful and appreciative of this recognition for our Infinity line of products."
About the Washington Technology Industry Association
The Washington Technology Industry Association, founded in 1984, is one of the largest statewide associations of technology companies, IT departments and individual technology professionals in North America. With more than 1,000 members representing more than 125,000 employees in Washington State, the association is a catalyst for sharing expertise, fostering collaboration, delivering key business services and advancing the value and global impact of technology companies doing business in Washington. The association's global partners are Microsoft, Regence BlueShield, Vertafore and Wells Fargo Insurance Services. The association's funding partners are AH&T Insurance, F5 Networks, Moss Adams LLP and RealNetworks. For more information, go to www.washingtontechnology.org.
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, and is developing energy storage solutions based on its proprietary porous silicon technology. For fuel cell product information, or SolCool product information, please email products@neahpower.com.
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. Such 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. See Neah Power System's Form 10-KSB for the fiscal year ended September 30, 2008 for a discussion of such risks, uncertainties and other factors. These forward-looking statements are based on management's expectations as of the date hereof, and the company does not undertake any responsibility to update any of these statements in the future