ATLANTA, May 30, 2007 (PRIME NEWSWIRE) -- OTC Stock Review announces that it has initiated coverage of Neah Power, Inc. (OTCBB:NPWS). Neah Power Systems, Inc., headquartered outside of Seattle in Bothell, Washington, is a micro fuel cell development company that owns a patented, silicon-based design to provide long-lasting, efficient and safe power solutions for portable electronic devices, including notebook PCs and other power-hungry computer, entertainment, and communications products.
Neah Power Systems, Inc. recently announced that its secondary offering undertaken pursuant to it's underwriting agreement with Empire Financial Holdings (AMEX:EFH) had been completed. The total gross proceeds were approximately $6,765,438. Now that the offering is complete and the quiet period is over, in our opinion, NPWS is in a position to execute on its business plan.
Neah Power Systems, Inc. is developing the use of porous silicon matrix technology (a silicon application similar to microchips) to create miniature fuel cells (electric generated at normal temperatures directly by chemical combination). The Neah technology offers the possibility of replacing disposable and rechargeable batteries in portable electronic devices with fuel cells that only require replenishment of methane, allowing continuous use completely apart from the power grid, and without the weight and bulk of carrying spare batteries. Neah has obtained a series of patents and has patent applications pending to completely control this disruptive technology. Originally funded in 1999 by the large venture capital firms Alta Partners, Frazier Technology Ventures, Castile Ventures, WestAM and Intel Capital to perfect the technology, the company is now entering the product development stage.
The complete report is available at http://www.otcstockreview.com/Files/NPWS/NPWS_Review.pdf.
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