Neah Power Systems Agrees to Acquire Shorai, the Leading High Performance, Lithium-ion Power Starter Battery Company
Acquisition enables customer focused product offerings
Bothell, WA (January 8, 2015) – Neah Power Systems, Inc. (OTCQB: NPWZ) an emerging leader in fuel cell-based power generation and lithium ion-based storage solutions for the unmanned aerial vehicles (defense and commercial), military, transportation and portable electronics industries, today announced that it has signed a definitive agreement to merge with Shorai, Inc., a leading provider of lithium ion-based power sports and starter battery solutions for the consumer motorsport industry. This merger is expected to be immediately accretive with Shorai reporting over $4.0 million (unaudited) revenue in for the twelve months ended December 2014 and was cash flow positive for the fourth quarter of 2014. The combined organization, which will be called Neah Power Systems, will deliver a comprehensive suite of alternative energy power generation and storage solutions through a diverse portfolio of proprietary technologies, which include 12 patents and 6 patents pending.
Chris D’Couto, Neah Power’s Chief Executive Officer said, “Our customers, whether defense, commercial or consumer, want to see integrated power solutions that uses best of breed technologies in order to meet their mission critical needs. Completing this merger allows us to create product, operational and marketing, synergies to meet these customer needs. With the Formira Hydrogen on DemandTM and BuzzBar® Suite products generating a lot of commercial and consumer interest, this merger allows us to create compelling total solutions. We intend to update on the various product segments in more detail in the coming weeks.”
David Radford, CEO of Shorai, Inc stated, “Shorai is poised for a leap in growth, and we are thrilled to have the backing and technology of Neah Power Systems to help drive our success. In the very near term, Shorai will introduce exciting new control technology in 2015 to increase our lead in lithium power battery performance. Also near production is an all-new Shorai product that addresses wider markets in motorcycle, automotive and military sales channels. Going forward Shorai manufacturing, distribution, and marketing expertise will complement Neah’s patented fuel cell technologies, and together open a wide range of sales opportunities in the defense, commercial and consumer markets. The match has very clear synergies which will foster products and profitability for both companies, far beyond what either could accomplish alone.”
The World’s Lightest Strongest Powersports Batteries™
For more information visit www.shoraipower.com.
More information will be available in Neah Power’s Current Report on Form 8-K, to be filed with the SEC.
For more information please contact David Waldman
Crescendo Communications LLC
Phone: +1 (212) 671-1021 Email: firstname.lastname@example.org
Neah Power Partners with Silent Falcon to integrate fuel cells into unmanned aerial vehicles (UAV)
Formira® hydrogen-on-demand technology expected to increase mission endurance and enable heavier payloads. Jointly published white paper available on website. ← Previous Next →
Chris D’Couto talks to CNBC about Drones
Neah Power CEO Chris D’Couto talks to CNBC about unmanned aerial vehicles (UAVs or “drones”) in this article by Mark Koba.
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Neah Shipping BuzzBar Suite of Products, Successfully Completes CE Certification
Longer drone flights are created by @Locheedmartin
Boeing Supports Neah Power Systems as a Fuel Cell Provider for Airplane and Ground Applications
BOTHELL, WA--(Marketwire - Oct 3, 2011) - Neah Power Systems, Inc. (OTCBB: NPWZ) announced today that the Boeing Company is exploring areas of collaboration to deploy our patented, award-winning PowerChip™ technology to various distributed power sources on Boeing's current and future airplane and ground systems.
How much power can the BuzzCell produce? What is the fuel?
The BuzzCell is being designed to accept fuel catridges which will produce about 7.5Wh of energy. Two catridges will fully charge the BuzzBar. The fuel is formic acid.
Neah Power Systems, Inc. (NPWZ)
22122 20th Ave SE Suite 161
Bothell, WA 98021
Neah Power Systems, Inc. (NPWZ.OB) is a developer of long-lasting, efficient and safe power solutions for the military, transportation, and portable electronics applications. Neah uses a unique, patented and award winning, silicon-based design for its PowerchipTM and PowerPlay™ micro fuel cells that enable higher power densities, lower cost and compact form-factors. Previous awards include the 2012 ZINO Green finalist, the 2010 WTIA finalist, and 2010 Best of What’s NewTM Popular Science and other awards. The Company’s micro fuel cell system can run in aerobic and anaerobic modes.
Shares Outstanding: 722 Million
Shares Floating: 635 Million
Filings value shares at least $0.019:
On November 26 , 2013, Neah Power Systems, Inc. (the “Company”) issued a press release announcing the acquisition of assets owned by Clean Tech Investors LLC (the “Seller”). In connection with the asset acquisition, the Company issued 23,198,600 restricted common shares to the Seller for the value of $440,000 pursuant to the terms of an Asset Purchase Agreement.
On November 20 , 2013, Neah Power Systems, Inc. (the “Company”) sold 36,901,400 restricted common shares to Clean Tech Investors, LLC (the “Investor”) for the purchase price of $700,000 pursuant to the terms of a Securities Purchase Agreement. As part of the transaction, the Company granted the Investor the right to appoint a one member to the Board of Directors to fill a vacant position
BASF is the world's leading chemical company and the largest producer of formic acid. BASF and Tekion will jointly develop and test a tailor-made formic acid formulation. The two companies will also work together on the development of applicable codes and standards and will share their expertise on materials compatibility for fuel cells.
Tekion's lead commercial application is a proprietary miniature "power pack" capable of fitting inside or attaching to mobile electronic devices and allowing these devices to be off the grid™. It is a micro fuel cell/battery hybrid offered to the market as The Formira Power Pack. A micro fuel cell recharges the battery allowing extended operation. The power packs are refueled with the simple swapping of a cartridge containing formic acid.
"We are extremely excited to be working with BASF," said Neil Huff, President and CEO of Tekion. "Their knowledge of formic acid and applicable chemical expertise will assist us tremendously in the commercialization of our Formira Power Pack."
"We are fascinated by Tekion's innovative energy solution and will gladly support the development by contributing our comprehensive experience as the leading global supplier of formic acid," said Mark Volmer, Head of the Acids Regional Business Unit in BASF's Intermediates Division.
Tekion's unique product technology provides a competitive advantage for portable electronic products in the power range up to 50 watts and energy range up to 100 watt-hours. Several products and markets fall within these power and energy levels including industrial handheld computers, satellite communication devices, notebook PCs and other mobile products.
As the world's largest producer of formic acid, with production facilities at the integrated Verbund sites in Ludwigshafen, Germany, and Nanjing, China, BASF makes the acid out of carbon monoxide and methanol, which are synthesized to form methyl formate. In the second step, this is split up by means of water into methanol and formic acid. The acid helps to keep certain feeds fresh and free of salmonellae, removes paints and rust from metallic surfaces, and scale from kettles and boilers. It disinfects kegs, casks and barrels in breweries and wineries, regulates pH values when applied as an auxiliary in the pharmaceutical and crop protection industry and acts as a dirt remover and disinfectant in cleaning applications.
Three Avenues for Commercialization
The shift from research entity to commercial status might be happening faster than most people might
The Company has three immediate areas of commercial focus. The company has entered into a
commercial arrangement with the Defense Research and Development Organization (DRDO) of India.
Shipments have already been made and the scale of this initial contract could reach $14 million. India is
looking at the PowerChip™ as a means of providing power to individual soldiers.
A second product area, aimed primarily for the retail markets, uses the company’s formic acid technology
as a variation on the PEM (Proton Exchange Membrane) process for its suite of battery recharging
products serving the portable electronic markets (BuzzBar™ Suite). The nature of the company’s design
and technology capabilities, however, gives it great flexibility in developing all manner of device
applications depending on the need and scope of the customer.
The Company has entered into memorandums of understanding (MOUs) to deploy the formic acid
technology into drones and other off-grid power solutions. The modular design would provide a lot of
flexibility to adapt the technology to these various applications which serve a variety of markets
Neah Power is meeting the demands of today’s high-tech military.
It is difficult to fathom a more demanding power user than the military. Modern, effective soldiers have come to rely on increasingly sophisticated computational and communications gear. In fact, it’s been said that there are two limiting factors determining the length of mission: water and batteries. The amount of water and batteries a soldier can physically carry often defines the duration of a mission and the likelihood of success.
These military devices require a dependable, lightweight, compact power source to extend operational run-times. On top of this, the electronic equipment and power sources need to be able to perform reliably under harsh operating conditions in the field.
Neah Power’s patented silicon-based fuel cell is expected to address these fundamental issues and provide a superior power source for diverse military applications. The Neah Power fuel cell is expected to provide two to three times the energy capacity versus the standard BA-5590 battery, while remaining in the same compact form.
Instant “Recharge” for continuous computing.
Importantly, soldiers can benefit from the ability to continuously run their electronic equipment without the need to wait for recharging. Fuel cells can produce power as long as a fuel source is provided. When one fuel cartridge is exhausted, a soldier could simply pop it out and insert another one to continue the power supply. Instead of carrying multiple batteries, soldiers would only need to carry one fuel cell and several lightweight fuel cartridges for continuous power capability.
The BA-5590 is the U.S. Military’s most widely used portable power source, supporting hundreds of communication and computational applications in the field. Though proven, these batteries are big and bulky, and weigh soldiers down. Instead of carrying multiple batteries for extended missions, dramatic weight and volume reductions are possible with Neah Power technology.
Fully Sealed System
Neah Power’s design can be configured as an open air system (for greater runtime capacity) or as a fully-sealed system (for predictable operation under a wide variety of field conditions). Both configurations capture the reaction by-products inside the fuel cartridge. The open-air system requires exposure to air for its oxygen source, while the fully-sealed system contains a liquid oxidant alongside methanol fuel in the cartridge.
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Chris D’Couto of Neah Power on the state of fuel cells (Podcast)
In this podcast Dr. Chris D’Couto, President and CEO of Neah Power, talks to Alix Paultre of Power Systems Design about the state of fuel cells in the industry. Long used in high-end energy applications, fuel cells hold promise as energy-management and -storage systems in Smart Grid applications. Neah uses a patented and novel award-winning silicon-based design in its Powerchip technology that enable higher power densities, air and non-air operation, lower cost, and compact form-factors. Neah also uses its differentiated technology for its BuzzBar and BuzzCell micro fuel cells for consumer-oriented applications.
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Autos 0-60 – Will Fuel Cell Powered cars become a reality?
Fuel cell technology was first used in space crafts in the 1960s and 70s. Today, Hyundai introduced the first fuel cell powered vehicle. Alternative Energy gets enormous attention and funding but many Solar/Micro-Grid solutions have weather-related drawbacks while fuel cell technology use oxygen and hydrogen as fuel to create electricity.
Will Fuel Cell Powered cars become a reality? How does it work? Are they safe? Consumers are curious and hoping to hear from experts other than just the car-makers.
One of the main issues to-date with the adoption of fuel cells for cars is compressed hydrogen has had associated safety issues when used in automobiles. How is one company providing a solution to this barrier?
Neah Power’s patent-pending technology enables the use of a liquid, safe fuel (formic acid) for automotive applications without the associated costs of a dedicated hydrogen generation plant or the safety and handling issues associated with the use of compressed hydrogen. In addition, formic acid could leverage the existing gasoline distribution infrastructure for enabling zero emission transportation.
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Neah Power Systems, through its recent asset acquisition from Clean Tech Investors (Nov 2013), has
demonstrated a reformer that allows onsite (point of use) generation of hydrogen using formic acid
(HCOOH). This technology is covered by two pending patent applications. Many portable energy
sources have distinct differences in energy density, safety, cost and availability as shown in the table
below. Formic acid, which is a liquid, is an attractive energy option without the associated safety and
handling challenges of compressed hydrogen
Neah’s technology enables the use of a liquid, safe fuel (formic acid) for grid scale and
automotive applications without the associated costs of a dedicated hydrogen
generation plant or the safety and handling issues associated with the use of
compressed hydrogen, especially for automotive applications. Furthermore, formic
acid could leverage the existing gasoline distribution infrastructure for enabling zero
Formic acid as a fuel
Formic acid is a safe, energy dense storage medium for
hydrogen. It is a common preservative and antibacterial
agent and is produced naturally in ants and bees. Formic
acid is a commodity chemical, a raw material for a variety
of products, and is available at low cost in bulk quantities
from a variety of suppliers. Formic acid is also considered
a carbon neutral, renewable energy source, and can also
be obtained by aqueous catalytic partial oxidation of wet
biomass (OxFA process4,5
). When formic acid is heated it
produces carbon dioxide and water, and upon exposure to
catalysts formic acid decomposes to hydrogen and carbon
monoxide. Although it must be handled safely, unlike
more traditional fuels, such as gasoline, formic acid is not flammable in 85% concentration. The
principal danger from formic acid is from skin or eye contact with concentrated liquid or vapors.
Neah system offerings
Neah presently offers four standard sizes of reformers
for hydrogen fuel cells in 5W, 10W, 50W, and 100W
configurations for demonstration purposes. The fuel
tank is adjustable to the energy, or run-time required.
Other power ranges and form factors can be made
available in customized configurations as well.
Formic acid is pumped from the cartridge with the use
of two metering diaphragm pumps; one pump supplies
the proper amount of formic acid for hydrogen (H2)
production as reformate, while the other supplies fuel
to the catalytic burner to provide a continuous heat
supply to the reformer, through a heat exchanger. After exiting the heat exchanger, the reformate is
mixed with a small amount of air and passed through a preferential oxidation (PrOx) reactor to remove
trace carbon monoxide (CO) content to less than 1ppm. The reformate is then passed to a fuel cell
stack to produce electric power, with anode off-gases being vented to the atmosphere. The air supply
for the catalytic burner is provided by a small blower. System design guidelines and initial product deployment
Neah is in preliminary discussions with other fuel cell companies to license the reformer technology for
certain grid scale applications. Neah is also actively exploring partnerships with automobile
manufacturers to implement this technology for point source of hydrogen generation for automotive
In parallel, Neah is developing stand-alone systems for back-up power for a variety of
applications as well as integrated solutions for a variety of remote monitoring systems. The table below
demonstrates the capability of the reformer technology, and can be used as a guideline for design
Neah Adds John P. de Neufville to the Strategic Advisory Board
Neah Power Systems Inc. Builds Out Its Scientific Bench
BOTHELL, WA--(Marketwired - Sep 3, 2014) - Neah Power Systems, Inc. (OTCBB: NPWZ), an innovator and supplier of cutting-edge power solutions for the military, transportation and portable electronics industries, announced today the addition of John P. de Neufville to their Strategic Advisory Board. John has held various leadership and research roles at Exxon, Energy Conversion Devices ("ECD") and Ovonic Battery Company.
John P. de Neufville purchased the ChemOvonics Division from ECD in 1986 and founded Voltaix, Inc. a high purity specialty gas business which was sold to Air Liquide America in 2013. Subsequently, he purchased the assets formerly associated with the GM-ECD JV that produced the then novel nickel-metal hydride batteries for GM's first all-electric car, the EV-1, creating a new company, Eutectix, LLC, based in Troy, MI and currently serving as Eutectix' CEO and Chief Scientist. His early research interests focused on materials for batteries, optical memory devices, and solar cells, prepared by sputtering, chemical vapor deposition and plasma deposition. At Exxon, John was a member of the team that developed a concept of selective remote sensing of uranyl minerals using laser induced fluorescence. At Voltaix he played a key role in scaling the synthesis of various molecules used for the chemical vapor deposition of insulating, semiconducting and conducting films for advanced integrated circuit and photovoltaic applications. John P.de Neufville holds a PhD. in applied physics and materials science from Harvard University and an M.S. in geology from Harvard University and a B.S. in geology from Yale University.
"We are very happy to have such an esteemed, successful entrepreneur and scientist join our Strategic Advisory Board," said Chris D'Couto, CEO Neah Power Systems, Inc. "He brings relevant experience both in semiconductor processing as well as battery energy storage and will be a valuable asset going forward in our commercialization and technology development efforts."
Read more at http://www.stockhouse.com/news/press-releases/2014/09/03/neah-adds-john-p-de-neufville-to-the-strategic-advisory-board#E4iqkCoM6oIQT0YP.99
By Bill Moore
Dr. Chris D'Couto's company specializes in micro electric power systems: backup batteries that recharge your cellphone, tiny micro fuel cells, and now a reformer that converts formic acid, the key ingredient in ant venom, into hydrogen gas for running up to 5 kW fuel cells.
The public relations company wondered if I'd be interested in learning more about a company called Neah Power, based in Bothwell, Washington. Besides their micro fuel cell based BuzzBar and BuzzCell battery technology, they are working on a fuel cell system that runs off of formic acid.
Before I agreed, I decided to first find out what formic acid is. It sounded dangerous.
Turns out it is one of the more benign chemicals made up of two hydrogen atoms that bookend a carbon atom and two oxygen atoms. Its chemical designation is HCOOH. As Wikipedia noted, it is a natural chemical that ants produce for their venom. It's also used to preserve cattle silage, among its other industrial applications.
Maybe best of all, it can be produced by a renewable process that recycles CO2 out of the atmosphere via plant biomass. Joan Slonczewski notes on her blog that the bacterium Acetobacterium woodii can be stimulated to convert dangerous carbon monoxide found in syngas into formic acid, a clear liquid that can be shipped and stored like any liquid fuel.
Using formic acid as a 'fuel' is where Neah Power comes into the picture. Besides their battery and micro fuel cell technology, the company last year acquired a firm that developed a reformer that rips apart the formic acid molecule, separating the two hydrogen atoms from the carbon and oxygen atoms. Those hydrogen atoms can then be fed into a fuel cell, including their own micro fuel cell to generate electric power. While the company is mainly focused on sub-kilowatt energy applications, it has developed some experimental units capable of outputting up to five kW.
According to Dr. Chris D'Couto, Neah Power's CEO and the featured guest in the interview below, a five kilowatt hour fuel cell running off a tank of liquid formic acid would be configured to trickle charge an electric vehicle's battery, allowing it, like the gasoline engine generator in the BMW i3 REx, to offer extended range capability. Unlike the i3 REx, the only tailpipe emission would be water vapor and CO2.
Published on Sep 16, 2014
Dr. Chris D'Couto's company specializes in micro electric power systems: backup batteries that recharge your cellphone, tiny micro fuel cells, and now a reformer that converts formic acid, the key ingredient in ant venom, into hydrogen gas for running up to 5 kW fuel cells. Part 2 of 3
Published on Sep 16, 2014
Dr. Chris D'Couto's company specializes in micro electric power systems: backup batteries that recharge your cellphone, tiny micro fuel cells, and now a reformer that converts formic acid, the key ingredient in ant venom, into hydrogen gas for running up to 5 kW fuel cells. Part 3 of 3
|Date ||Time ||Source ||Headline ||Symbol || ||Company |
|11/26/2013 ||9:00AM ||GLOBE ||Neah Power Systems Completes Asset Acquisition of Fuel Cell Business Enabling New Market Opportunities ||OTCBB:NPWZ || ||Neah Power Systems, Inc. (QB) |
|11/22/2013 ||9:00AM ||GLOBE ||Neah Power Systems Provides Status Update on the Highly Anticipated BuzzBar(TM) and the Order From DRDO, India for the PowerC... ||OTCBB:NPWZ || ||Neah Power Systems, Inc. (QB) |
|11/12/2013 ||8:00AM ||GLOBE ||Neah Power Systems Announces Purchase Order From DRDO, India for PowerChip(R) Product ||OTCBB:NPWZ || ||Neah Power Systems, Inc. (QB) |
|10/30/2013 ||5:25PM ||EDGAR ||Current Report Filing (8-k) ||OTCBB:NPWZ || ||Neah Power Systems, Inc. (QB) |
|10/17/2013 ||12:37PM ||EDGAR ||Current Report Filing (8-k) ||OTCBB:NPWZ || ||Neah Power Systems, Inc. (QB) |
|10/17/2013 ||9:15AM ||MWUS ||Letter to Shareholders From Neah Power Systems (NPWZ.OB) ||OTCBB:NPWZ || ||Neah Power Systems, Inc. (QB) |
|10/16/2013 ||12:16PM ||EDGAR ||Current Report Filing (8-k) ||OTCBB:NPWZ || ||Neah Power Systems, Inc. (QB) |
|10/16/2013 ||9:15AM ||MWUS ||Neah Power Systems Hires Branding Agency ||OTCBB:NPWZ || ||Neah Power Systems, Inc. (QB) |
|09/12/2013 ||3:47PM ||EDGAR ||Statement of Changes in Beneficial Ownership (4) ||OTCBB:NPWZ || ||Neah Power Systems, Inc. (QB) |
|08/26/2013 ||3:25PM ||EDGAR ||Amended Statement of Changes in Beneficial Ownership (4/a) ||OTCBB:NPWZ || ||Neah Power Systems, Inc. (QB) |
|08/21/2013 ||2:04PM ||EDGAR ||Current Report Filing (8-k) ||OTCBB:NPWZ || ||Neah Power Systems, Inc. (QB) |
|08/21/2013 ||8:00AM ||MWUS ||Neah Power Systems to Take PowerPlay(R) Orders Directly From Consumers; CEO Provides Video Update ||OTCBB:NPWZ || ||Neah Power Systems, Inc. (QB) |
|08/19/2013 ||3:33PM ||EDGAR ||Statement of Changes in Beneficial Ownership (4) ||OTCBB:NPWZ || ||Neah Power Systems, Inc. (QB) |
|08/16/2013 ||2:17PM ||EDGAR ||Amended Small Company Offering and Sale of Securities Without Registration (d/a) ||OTCBB:NPWZ || ||Neah Power Systems, Inc. (QB) |
|08/14/2013 ||5:59PM ||EDGAR ||Statement of Changes in Beneficial Ownership (4) ||OTCBB:NPWZ || ||Neah Power Systems, Inc. (QB) |
|08/14/2013 ||5:49PM ||EDGAR ||Statement of Changes in Beneficial Ownership (4) ||OTCBB:NPWZ || ||Neah Power Systems, Inc. (QB) |
|08/14/2013 ||5:39PM ||EDGAR ||Quarterly Report (10-q) ||OTCBB:NPWZ || ||Neah Power Systems, Inc. (QB) |
|08/01/2013 ||11:29AM ||EDGAR ||Current Report Filing (8-k) ||OTCBB:NPWZ || ||Neah Power Systems, Inc. (QB) |
|08/01/2013 ||9:15AM ||MWUS ||Neah Power Systems, Inc. Issues Letter to Shareholders ||OTCBB:NPWZ || ||Neah Power Systems, Inc. (QB) |
|07/29/2013 ||4:40PM ||EDGAR ||Statement of Changes in Beneficial Ownership (4) ||OTCBB:NPWZ || ||Neah Power Systems, Inc. (QB) |
|07/23/2013 ||12:17PM ||EDGAR ||Statement of Changes in Beneficial Ownership (4) ||OTCBB:NPWZ || ||Neah Power Systems, Inc. (QB) |
|07/23/2013 ||12:16PM ||EDGAR ||Current Report Filing (8-k) ||OTCBB:NPWZ || ||Neah Power Systems, Inc. (QB) |
|06/13/2013 ||4:13PM ||EDGAR ||Small Company Offering and Sale of Securities Without Registration (d) ||OTCBB:NPWZ || ||Neah Power Systems, Inc. (QB) |
|06/10/2013 ||9:17AM ||EDGAR ||Current Report Filing (8-k) ||OTCBB:NPWZ || ||Neah Power Systems, Inc. (QB) |
|06/10/2013 ||9:15AM ||MWUS ||Neah Power Systems Provides Update on Contract With Ion Geophysical Corporation, CEO Provides Video Update ||OTCBB:NPWZ || ||Neah Power Systems, Inc. (QB) |
|06/03/2013 ||4:20PM ||EDGAR ||Statement of Changes in Beneficial Ownership (4) ||OTCBB:NPWZ || ||Neah Power Systems, Inc. (QB) |
|05/20/2013 ||4:36PM ||EDGAR ||Quarterly Report (10-q) ||OTCBB:NPWZ || ||Neah Power Systems, Inc. (QB) |
|05/15/2013 ||5:07PM ||EDGAR ||Notification That Quarterly Report Will Be Submitted Late (nt 10-q) ||OTCBB:NPWZ || ||Neah Power Systems, Inc. (QB) |
|05/09/2013 ||9:17AM ||EDGAR ||Current Report Filing (8-k) ||OTCBB:NPWZ || ||Neah Power Systems, Inc. (QB) |
|05/09/2013 ||9:15AM ||MWUS ||Neah Power Systems Launches PowerPlay(R) With Shipment to Fortune 110 Company, CEO Provides Video Update ||OTCBB:NPWZ || ||Neah Power Systems, Inc. (QB) |
Board of Directors
Jeffrey B. Sakaguchi | Chairman of the Board Member
Jeffrey Sakaguchi has served on our board since November 2010. Mr. Sakaguchi has served since 2009 as the Chairman of the Board of Directors of the American Red Cross, Greater Los Angeles Chapter where he has been responsible for the financial and organizational turnaround of chapter performance. From 2004 until 2007, Mr. Sakaguchi served as the President and Chief Operating Officer of Evolution Robotics Retail, Inc. In that role, Mr. Sakaguchi co-led a spin off of Evolution Robotics Retail, Inc. from its former parent company and developed and executed a commercialization strategy for a breakthrough visual scanning product targeted for the retail industry. From 1995 until 2003, Mr. Sakaguchi served as the Managing Partner for the North American Energy Strategy Practice at Accenture LLP in Los Angeles. From 1989 until 1995, Mr. Sakaguchi served as the Senior Engagement Manager at McKinsey & Company, Inc. in Los Angeles. Mr. Sakaguchi earned his bachelor’s of science in chemical engineering from the Massachusetts Institute of Technology and his masters in business administration from the Wharton School of the University ofPennsylvania. Mr. Sakaguchi was chosen to serve on our Board because of his extensive business leadership experience with technology and emerging companies and his knowledge of the emerging fuel cell industry.
Dr. Chris D’Couto | Board Member
Dr. Gerard C. D’Couto has served as a member of our Board since January 28, 2008 and as our Chief Executive Officer and President since February 2008. Dr. D’Couto previously served as our Chief Operating Officer and Executive Vice President from September 2007 until February 2008. Prior to joining us, Dr. D’Couto served as senior director of marketing at Form Factor Inc. from January 2006 until September 2007, where he headed the launch of NAND flash and DRAM sort probe cards. Prior to that, Dr. D’Couto had a nine-year tenure at Novellus Systems, Inc., with positions of increasing responsibility ranging from product management to technology development and sales. Prior to that, Dr. D’Couto worked at Varian Associates and as a consultant to Intel Corporation. Dr. D’Couto received a bachelor’s degree in chemical engineering from the Coimbatore Institute of Technology in India and also received a master’s and a doctoral degree in chemical engineering from Clarkson University in New York. Dr. D’Couto also earned an MBA from the Haas School of Business at the University of California, Berkeley. Mr. D’Couto was chosen to serve on our Board because of his management and operational skills from his business school education and past management positions as well as his technical knowledge related to our fuel cell technology.
David Schmidt | Board Member
David Schmidt has served on our board since November 2010. Mr. Schmidt has served since 2008 as an independent consultant advising chemical, material and alternate energy spaces regarding strategic marketing and execution services. From 2004 until 2008, Mr. Schmidt served as the Manager of Commercial Excellence and the Strategic Marketing Business Development Manager at Honeywell International Specialty Materials, Inc. From 2000 until 2003, Mr. Schmidt served as a Senior Director and Chief Operations Officer of Plasmion Corporation, Inc. Mr. Schmidt has also served in management positions at Film Specialties, Inc. from 1993 until 2000, Hydromer, Inc. from 1989 until 1992 and ROI Group, Inc. from 1986 until 1988. Mr. Schmidt earned his bachelor of science in business and economics from Lehigh University. Mr. Schmidt was chosen to serve on our Board because of his extensive executive and business development experience in technology industries.
Jon M. Garfield | Board Member
Jon M. Garfield has served on our Board since May 2008. Mr. Garfield is currently the CFO of Monte Nido LLC a behavioral healthcare treatment facility. He served as Chief Executive officer of technology company Clearant, Inc. (OTCBB: CLRA) from January 2007 until October 2010, and as Chief Financial Officer at Clearant, Inc. from September 2006 until January 2007. Mr. Garfield has served as a member of Clearant, Inc.’s board of directors from May 2007 until August 2010. From September 2001 through 2006, Mr. Garfield served as an independent financial consultant, including advising as to SEC reporting obligations and Sarbanes-Oxley compliance. From 1998 until 2001, he served as Chief Financial Officer of a telecom service provider and a software developer. From 1996 to 1998, he served as Vice President of Acquisitions for the formerly NYSE-listed ground transportation consolidator Coach USA, Inc. From 1991 to 1996, Mr. Garfield served as Corporate Assistant Controller of Maxxim Medical, Inc., a formerly New York Stock Exchange listed manufacturer and distributor. During 1986 to 1991, Mr. Garfield practiced public accounting with Arthur Andersen and PricewaterhouseCoopers. Mr. Garfield received a Bachelor of Business Administration in Accounting from University of Texas, Austin. Mr. Garfield was chosen to serve on our Board because of his past experience in chief executive officer and chief financial officer roles at public companies and because of his financial literacy.
William M. Shenkin | Board Member
William M. Shenkin has served on our Board since November 2013. Mr. Shenkin is currently the CEO and President of CeFO, Inc. Mr. Shenkin specializes in working with businesses and individuals in providing family office services for high net worth individuals, chief financial officer services including strategic business review and planning, monthly financial and accounting review, equity and debt financing, buy/sell negotiations, and tax services. Mr. Shenkin’s professional history encompasses 30 years of CPA, tax, audit and advisory services beginning with Ernst & Young, then Shenkin Kurtz Baker & Co. and presently CeFO, Inc. He is a member of the American Institute of Public Accountants and serves as a Board Member and Board Advisor for numerous companies and non-profits. Mr. Shenkin holds a M.A. in Accounting from Florida Atlantic University.
Scientific Advisory Board
Drs. Wilbert van den Hoek
Drs. van den Hoek retired from Novellus Systems, Inc. in February 2008. He is currently a part-time advisor to Novellus Systems, Inc. From July 1999 through October 2005, he served as chief technical officer and executive vice president, Integration and Advanced Development. From March 2003 – Jan 2005, he was also in charge of the Human Resources organization, and acting General Counsel till Dec 2006. From the end of 2005 through February 2008, he was president and CEO of Novellus Development Company, LLC.
Drs. van den Hoek represents Novellus Systems, Inc. as a member of the board of directors of the Semiconductor Research Corp. and as a member of the Governing Council of the Microelectronics Advanced Research Corp. (MARCO). He is a member of the Technical advisory boards of various public and private companies. Drs. Van den Hoek has written over thirty technical publications and holds more than fifteen patents. Drs. van den Hoek received a Doctorandus degree in Chemistry from the Rijks Universiteit Utrecht, The Netherlands.?
Joseph R. Bronson
Mr. Bronson is President and Chief Operating Officer of Sanmina-SCI Corporation (NASDAQ: SANM), a leading electronics contract manufacturer serving the fastest-growing segments of the global electronics manufacturing services (EMS) market. Prior to Sanmina, Mr. Bronson served as President and Director of FormFactor, Inc. (NASDAQ: FORM), a manufacturer of high performance advanced semiconductor wafer probe cards. Mr. Bronson also spent 20 years at Applied Materials (NASDAQ: AMAT) in senior level operations management positions concluding with Executive Vice President and Chief Financial Officer of the company.
Dr. Reza Abhari
Dr. Abhari is a professor of Energy Technologies at the Swiss Federal Institute of Technology Zurich (ETH) where he is committed to research and development of advanced energy conversion systems and technologies. Dr. Abhari has served as a consultant to notable companies such as Alstom Power, a global leader in power generation, Daimler (NYSE: DAI), General Electric (NYSE: GE), Honeywell (NYSE: HON), and Toshiba Corp. (TSE: 6502.T). Additionally, he has served as an advisor to several private equity and venture capital firms, providing business, strategic and technical advice in the support of Clean Tech investments.
Dr. Abhari serves as a Member of the Board of Factor3C, a global leader in carbon asset development, and trading of Carbon Emission Reduction credits; Vice-Chairman of the International Gas Turbine Institute; and, Member of NASA Glenn Research Center’s Working Group focusing on aeronautical research. Professor Abhari is a member of the prestigious Swiss Academy of Engineering Sciences, a Fellow of American Society of Mechanical Engineers and the recipient of several scientific awards, as well as a keynote speaker in the US, Europe, and Asia on topics related to climate change and energy supply and conversion. Professor Abhari received his PhD from MIT (1991) in Aeronautics and Astronautics and his MA and BA from Oxford University in Engineering Sciences.
Colonel James Mutter
Colonel James Mutter joins the Company’s Strategic Advisory Board after a distinguished 36-year military career with the US Marine Corps, including five years in USMC research, development, test and evaluation positions, about 15 years in senior command and control positions in both field and garrison, and also several tours as Chief of Staff at various commands. Following his military career, Col. Mutter was Sr. VP for Administration at Sensys Corp in D.C., has consulted with a number of military support contractors, and was President of the National Military Family Association. In 1998, he received the civilian US Navy Distinguished Public Service Award. After graduating from University of New Mexico in 1961, and serving two tours of duty in Vietnam, Col. Mutter was selected to attend graduate school and earned a Masters Degree in Financial Management at George Washington University.
Lieutenant General Carol Mutter (Ret.)
Lieutenant General Carol Mutter (retired) joins Neah Power’s Strategic Advisory Board after a celebrated 31-year career with the US Marine Corps where she retired as a Lieutenant General in 1999. General Mutter possesses 13 years of experience in military research, development and acquisition in addition to her experience in financial management, logistics, personnel administration, and equal opportunity. She was appointed by the President of the U.S. to the American Battle Monuments Commission, and currently serves on the National Advisory Council of The Alliance for National Defense, on the Advisory Board of the Indiana Council on World Affairs, on the Indiana State (legislative) Commission on Military and Veterans Affairs, and participates as a Senior Fellow at the Joint Forces Staff College in Norfolk, VA. More recently, Gen. Mutter has been a consultant for companies including IBM (NYSE: IBM), Raytheon Co. (NYSE: RTN), Revision Eyewear, as well as virtual training and nanotechnology organizations, directly contributing to their relationships with and success in obtaining government contracts. Gen. Mutter earned two masters degrees; one from Salve Regina University and the other from Naval War College, and has been awarded two honorary doctorate degrees.
John P. de Neufville
John P. de Neufville purchased the ChemOvonics Division from ECD in 1986 and founded Voltaix, Inc. a high purity specialty gas business which was sold to Air Liquide America in 2013. Subsequently, he purchased the assets formerly associated with the GM-ECD JV that produced the then novel nickel-metal hydride batteries for GM’s first all-electric car, the EV-1, creating a new company, Eutectix, LLC, based in Troy, MI and currently serving as Eutectix’ CEO and Chief Scientist. His early research interests focused on materials for batteries, optical memory devices, and solar cells, prepared by sputtering, chemical vapor deposition and plasma deposition. At Exxon, John was a member of the team that developed a concept of selective remote sensing of uranyl minerals using laser induced fluorescence. At Voltaix he played a key role in scaling the synthesis of various molecules used for the chemical vapor deposition of insulating, semiconducting and conducting films for advanced integrated circuit and photovoltaic applications. John P.de Neufville holds a PhD. in applied physics and materials science from Harvard University and an M.S. in geology from Harvard University and a B.S. in geology from Yale University.
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www.shoraipower.com. More information will be available in Neah Power’s Current Report on Form 8-K, to be filed with the SEC. For more information please contact David Waldman Crescendo Communications LLC Phone: +1 (212) 671-1021 Email:
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