BOTHELL, Wash., Aug. 6, 2009 (GLOBE NEWSWIRE) -- Neah Power Systems, Inc., (OTCBB:NPWZ) www.neahpower.com, the company developing fuel cells for the military and portable electronic devices, announced today that it had appointed Kenth Pedersen as Chief Business Development Officer.
Prior to joining Neah in February 2009, Kenth was Founder and CEO of Hyphase Energy, Founder and CEO of Boegeskov Energy, and inventor of a novel technology used in creating non-planar fuel cell electrodes. Kenth studied entrepreneurial development at UC Berkeley and fuel cell and renewable energy technologies at the College of Engineering, ITS, UC Davis. Kenth has more than 20 years experience in entrepreneurial finance and development, with a focus on sustainable energy technology ventures over the past decade.
Dr. Chris D'Couto, President and CEO of Neah Power commented, "Kenth is very resourceful and entrepreneurial, and his knowledge of renewable energy markets will have a significant positive impact on Neah. He has been instrumental in developing some of our existing customer relationships, and in this role, I look forward to working with him towards the successful launch of our products and revenue generation by the end of 2009."
Pedersen said, "Dr. D'Couto has done an excellent job of assembling a very skilled, entrepreneurial team. My objective, which I share with Dr. D'Couto, is to create a world class renewable energy solutions provider. It's an honor to be a part of such a team and company."
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.
Further company information can be found at www.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