BOTHELL, Wash., March 8, 2010 (GLOBE NEWSWIRE) -- Neah Power Systems (OTCBB:NPWZ) www.neahpower.com, the company leading electrical technology solutions, reports it has begun to address solutions relevant to the "Power Gap," commonly defined as the difference in power generation and power storage vs. power needs, which continues to affect every facet of life dependent on portable power. The Power Gap is a limiting factor in providing consumers with a quality and worry-free energy use experience, a critical shortfall in the event of natural disasters where the lack of power can range from being inconvenient to becoming life threatening.
"The Power Gap becomes more pronounced by the under-utilization of Earth's renewable energy sources," Chris D'Couto, Neah CEO said. "Neah Power as part of the Smart Grid, can provide renewable power generation for consumers, industrial and military applications, as well as storage opportunities for renewable energy generation. This will allow 24/7 off-the-grid power for cell phones and consumer electronics, solutions from less than 5W to greater than 10 kW, extended off-the-grid power using renewable energy solutions, and off-the-grid air conditioning and heating solutions."
"Lithium-ion (Li-ion) battery technology has made significant progress; however weight, recharge times, safety and disposal issues still present challenges in addressing the Power Gap dilemma," D'Couto continued. "For example, Li-ion batteries require a charger, as well as access to a fixed electrical grid for use. Neah's award-winning, patented porous Si-electrode based fuel cell has superior performance, as compared to the incumbent Proton Exchange Membrane technology, in the following areas: greater than 2X higher power density than PEM, ours can operate with and without air (PEM requires air for operation), Neah's fuel cell uses outsourced manufacturing facilities for fast, cost–effective ramp, and we employ computer chip manufacturing for a much lower cost product."
"Reuters India reported that IBM has banked on strong growth potential for smart grid power distribution systems in China as the country seeks ways to use energy more efficiently," D'Couto observed. "Many technology giants like Google Inc., Cisco and Microsoft are also investing heavily in smart grid technology, intelligent power-distribution systems designed to be more responsive and interactive than today's traditional power grid."
"Beijing has planned to invest over $7.3 billion in smart grid projects in 2010, according to Zpryme Research and Consulting," D'Couto continued, "Far more than the United States. Asian nations are pursuing smart grids more aggressively than any other region in the world at present. Asia offers huge growth opportunities in smart grids given increased spending in the sector. It is forecast that companies will benefit from the transformation of the region's grid infrastructure and will see opportunities from the building of the ultra high-voltage grid down to the development of meters and software. Neah is enthused to participate and enable that transformation." The global household smart appliance market is projected to grow from $3.06 billion in 2011 to $15.12 billion in 2015, according to the new "Smart Appliance Report" from Zpryme.
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.