BOTHELL, Wash., June 17, 2009 (GLOBE NEWSWIRE) -- NEAH Power Systems, Inc., (OTCBB:NPWS), the Company developing fuel cells for the military and portable electronic devices, announced today that Ed Cabrera, Executive Managing Director of New York-based Jesup & Lamont, has joined the Company's board of directors.
"Ed Cabrera is a significant addition to our board," said Chris D'Couto, NEAH CEO. His wealth of experience with investment banks such as Merrill Lynch, PaineWebber and Raymond James & Associates, will bring us important strategic advice as we advance our technology into the military and commercial markets."
Cabrera is Head of Investment Banking and Co-Head of Capital Markets at Jesup & Lamont, one of the largest broker-dealers in the rapidly-growing South of the United States. Jesup has over 340 financial consultants in 48 retail offices and 6 institutional desks that trade for over 800 institutional clients throughout the world. He has worked on Wall Street for over 20 years as an investment banker, equity analyst, market strategist and portfolio manager at Merrill Lynch, where for 11 years, he was Managing Director and Head of Latin America, building the top ranked team for the region, according to Greenwich Associate surveys and Latin Finance magazine polls. He was selected for the 2000 Millennium edition of Who's Who in Finance and has been named to the All-America team by Institutional Investor for the quality of his work.
Cabrera is an alumnus of Harvard Graduate School of Business, in 1987, with an MBA, and has been quoted in the Wall Street Journal, on CNBC, and the New York Times.
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 Jesup & Lamont:
Jesup & Lamont, founded in 1877, is a full-service Brokerage and Investment Banking Firm specializing in Institutional, Retail Sales, Trading Services & Equity Research. The firm's Corporate Finance Division identifies, structures, and executes diverse and innovative market transactions, including services and advice regarding mergers and acquisitions, capital raising, acquisition finance, restructurings, and other corporate finance matters. Its history includes raising capital and providing brokerage services for John D. Rockefeller's Standard Oil. Later, Rockefeller Center was constructed with funds partially provided by Jesup & Lamont. In the post-World War II period, Jesup & Lamont served on the floor of the New York Stock Exchange for firms such as Morgan, Stanley & Co., Lazard Freres and Brown Brothers Harriman. Its New York Corporate Office is located at 650 Fifth Avenue, 3rd Floor, New York, NY 10019. Tel: 212.307.2660. The Company has 19 branch offices around the U.S.
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.