BOTHELL, Wash., March 18, 2010 (GLOBE NEWSWIRE) -- Neah Power Systems, Inc., ('Neah') (OTCBB:NPWZ) www.neahpower.com/">http://www.neahpower.com, the company developing fuel cell-based renewable energy solutions, reported today Analyst Richard Wolfe, CFA of Zacks Investment Research, has rated Neah Power Systems as Outperform, with a $1.75 price target over the next 12 months.
Wolfe said, "Neah, with an accumulated deficit of $51 million, is a development-stage (pre-revenue) company with silicon-based direct-methanol fuel cell intellectual property, design know-how and manufacturing capability that has been demonstrated in the course of multiple contract engagements. Initial bookings of sales employing the new technology through Neah's solar air conditioning subsidiary are now pending delivery."
He added, "Unique competitive strengths include a porous, silicon-wafer design and the ability to operate in anaerobic environments. We rate it as a highly speculative, potential growth story."
"Zacks Investment Research is one of the most highly regarded firms in the investment industry," Chris D'Couto, CEO of Neah, said. "The guiding principle behind their work is that there must be a good reason for brokerage firms to spend billions of dollars a year on stock research. Obviously, these investment experts know something special that may be indicative of the future direction of stock prices. From day one, they were determined to unlock that secret knowledge and make it available to clients to help them improve their investment results."
To Download the Report Visit Zacks investment Research http://www.zacks.com/ZER/zer_comp_reports.php?f_ticker=NPWZ&f_period=7
For product enquiries, please contact products@neahpower.com
About Neah Power
Neah Power Systems, Inc. (NPWZ) is developing long lasting, efficient and safe power solutions for the military, industrial and consumer applications. 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. The company is developing energy generation and storage solutions based on its patented technology.
Further company information can be found at http://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, 2009 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.