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In Complete agreement...the DOE grant does speak to a much higher Share price than were NPWZ is at today....tangible products and revenue are now and accounting function based on delivery of product perhaps...and not a function of when agreements have be signed....IMO time will tell...
S4W/Voxx has broken that silence, and information once protected by NDA is still currently posted on their website. Looks like Neah is in business and very good news is on the near horizon for investors.
From the stickie...
As of June 14, 2016, building of batteries already in progress.
http://www.michigansthumb.com/news/article/New-Battery-Has-5X-More-Energy-Storage-9151661.php
Reason for the silence:
"While information about other products is currently on the www.neahpower.com website, due to various pending patent developments, the company is providing information on its battery within the constraints of a non-disclosure agreement, and interested parties are requested to contact the company at: info@neahpower.com."
S4W/Voxx has broken that silence, and information once protected by NDA is still currently posted on their website. Looks like Neah is in business and very good news is on the near horizon for investors.
Neah Power Systems has patented a three-dimensional porous silicon based lithium-metal battery that has demonstrated 1,500 watts per liter of volume and 500 watts per kilogram.
https://www.sbv.org/projects/am-round2-neah.html
The tax loss carry forward number is real and is even higher than the report, the IP value was before the battery direction change with Neah Power and now paired with the fuel cell its even higher than the report. If it took ten years to get here so be it...
And https://www.sbv.org/projects/am-round2-neah.html
Argonne National Laboratory web site is not a dream...(as in its real, but for us longs it is a dream come true)
Neah Power Systems has patented a three-dimensional porous silicon based lithium-metal battery that has demonstrated 1,500 watts per liter of volume and 500 watts per kilogram. This battery uses older generation computer chip manufacturing technology that is widely available throughout the world, enabling a low cost, which the company targets at $150 per kilowatt hour in high volume production. Such a low price point would make the battery applicable across industries, from small devices such as cell phones to larger applications for stationary power, automotive and grid-scale back up. Such a foundry model allows a low capital-cost ramp up into high volume production, with very high quality control
The Source of Excitement is in the high degree 0f scalability
potential, read the reports on enterprise value even before 2015 battery concept....should be well above these figures... many times the current share price....
Drones, military, autos...etc....
The Median value multiple for enterprise value to revenues is 4.5. A 3x
multiple in general is not unusual for a risk oriented situation such as Neah Power where scalability
The Shareholder letters updates have multi-million dollar deals as pending...
Market valuation of $50.7 million roughly ten times current value before the battery....in 2014
Power’s patent portfolio and determined a valuation range of approximately $800 million to $1.6 billion.
Valuation Based on Potential Revenues
If one looks at the above table, the median value multiple for enterprise value to revenues is 4.5. A 3x
multiple in general is not unusual for a risk oriented situation such as Neah Power where scalability
potential is extremely high. With projected revenues for Neah Power of $14.5 million in two years’ time, a
3x multiple would produce a market valuation of $50.7 million
http://consiliumglobalresearch.com/consilium_PDFs/NPWZ_Initiation_9-10-2014.pdf
Tax Loss Carryforwards
Neah Power has over $50 million in tax loss carry-forwards. Given the complicated rules governing tax
loss-carry-forwards and the circumstances by which those accumulated losses can be applied, we would
nonetheless suggest that there is meaningful value in the company’s NOLs should a merger or
acquisition with another company take place. Certainly, if the company’s commercial initiatives gain
traction, these NOLs will be valuable in protecting the company’s cash generation for some time.
Intellectual Property – 2013 Acquisition of Tekion Assets
Over the years the company has amassed a substantial stable of 14 patents, and various pending
patents and patent applications.
In late 2011, an independent, professional IP evaluation company, Dolcera Corp., assessed Neah
Power’s patent portfolio and determined a valuation range of approximately $800 million to $1.6 billion.
This valuation was based on the projected growth rates in various markets, the ability of the company to
garner market share, and the types of royalty arrangements that can be reasonably expected. All this is
contingent upon the uniqueness of the company’s proprietary technology. The company’s patents are
slated to expire in the years 2020 - 2030.
The acquisition of Tekion’s assets in November, 2013 brought to Neah Power several of the above
mentioned patents and the capability to build upon its silicon and formic acid technologies. It is upon
these new and innovative technologies that the promise of long-term growth has been based. It stands to
reason that the value of the assets from the Tekion acquisition reinforces the overall valuation of the
company.
$NPWZ filings are due batteries used by SW4 in drones
$NPWZ 8K due on news of SW4 use of batteries in new drones
$NPWZ 8K on new deals should come out with filings due. SW4 drones use new battery this spring.
If you want to think of it that way fine...but its clearly more like below.... at $11,000 per month.... he would be on time, unless he chooses not to be....
Maybe he is busy with inventory systems and sales orders..
• When needed, set up an inventory system in Sage 50.
• When needed, set up a sales-order process.
http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=11352388-7468-36667&type=sect&TabIndex=2&companyid=94052&ppu=%252fdefault.aspx%253fcompanyid%253d94052
o serve as the “Chief Financial Officer” of the Company, providing assistance to accounting/finance staff on a part-time basis. I will be a Consultant to the Company and not an Employee of the Company.
Scope of Engagement
The engagement will begin in April 2016 and continue through your fiscal year ending September 30, 2016. Not all items will be completed in this time period as some items are continuous and multi-year in nature. The work will be performed on-site at your Seattle area office and off-site when and if needed.
Engagement Approach
I will approach the engagement as summarized below. The engagement encompasses different work timelines, some work to be done monthly, quarterly, annually and some on an on-going multi-year basis. This engagement letter is not meant to be all-inclusive, and is not limited to the below, listed items. As other agreed-upon work items may be added as the needs come up and are agreed to. The key engagement components are:
• Provide continued assistance on the running and operation of the Sage 50 accounting and FAS software.
• Provide assistance as needed/requested for month-end “closing” of the books. To include, but not limited to; monthly bank reconcilations, accruals, examination of general ledger accounts, variance analysis on differences from actual to estimates/budgets/forcasts and needed month-end journal entries.
• Provide assistance and work on required quarterly filing. Prepare/provide assistance on reports and schedules needed for outside accounting firm and filing with SEC.
• Provide assistance and work on required annual filing. Prepare/provide assistance on reports and schedules needed for outside accounting firm and filing with SEC.
• Provide assistance and work on reports, documents and schedules as requested and needed by the outside auditors.
• Work on set-up of budget and forecasts as needed. Assistance provided to set up of “Use of Proceeds Reports” (showing “burn rate”, cash expense reports). Reports to be set and modified as needed and requested by users of the reports.
• Will take on requested “controller work”.
• Provide assistance and work on resolving “super old” accounts payable problems.
• When needed, set up an inventory system in Sage 50.
• When needed, set up a sales-order process.
• When needed, set up job cost reports for new products.
• Other work to be agreed to.
Client Responsibilities
Neah Power Systems, Inc. Support:
I will require the support of your personnel to achieve timely completion of the engagement objectives. Support includes, but is not limited to, the collection/access of all relevant data and documents needed to do the agreed-upon work. Failure to receive such support in a timely manner could negatively impact our ability to fulfill the scope requirements described above.
Project Management:
I will report to you, as the Chief Executive Officer and to the Board of Directors of the Company, and I will accept instructions from you and the Board, respectively.
Management Functions:
As a condition to my performing the services described above, you agree to:
• Make all management decisions and perform all management functions, including determining account codings and approving all proposed journal entries;
• Evaluate the adequacy and results of the services performed;
• Accept responsibility for the results of the services, including decisions regarding the implementation of any recommendations provided by us; and
• Establish and maintain internal controls as well as monitoring ongoing activities.
You agree that your management and employees are responsible for the accuracy and reliability of information provided to me, the proper recording of transactions in the records, the safekeeping of assets, and the accuracy of the financial statements. I have no responsibility to identify and communicate deficiencies or material weaknesses in your internal controls as part of this engagement, although should I become aware of any deficiencies or weaknesses, I will inform you.
CPA Firm Responsibilities
I will perform my services in accordance with the Statement on Standards for Consulting Services and the Code of Professional Conduct issued by the American Institute of Certified Public Accountants. Such services are not intended to represent an audit, examination, attestation, special report or agreed-upon procedures engagement as those services are defined in AICPA literature applicable to such engagements. Accordingly, these services will not result in the issuance of a written communication to third parties by Jeffrey A. May P. C. regarding financial data or internal controls, or expressing a conclusion or any other form of assurance.
This engagement is limited to the professional services outlined above. Jeffrey A. May P. C., in its sole professional judgment, reserves the right to refuse to take any action that may be construed as making management decisions or performing management functions on your behalf. However, I may provide advice and recommendations to assist management in performing its functions and making decisions.
The above professional services will be performed based on information you provide to me. I will not verify or audit this information. You understand that I do not guarantee the results of any analysis that I may undertake, and agree that any report or analysis I provide represents my professional conclusion based on the data provided to me. I cannot guarantee its accuracy or completeness.
My engagement does not include any procedures designed to detect errors, fraud, or theft. Therefore, my engagement cannot be relied upon to disclose such matters. Although should I become aware of any deficiencies or weaknesses I will inform you.
Fees and Billings
Fees for the services outlined above will be billed monthly at the flat fee of $11,000 per month, plus out-of-pocket expenses. Invoices will be billed monthly and will be due within ten days of invoice date.
The Company will issue 1,200,000 warrants, to vest quarterly over two years in eight equal installments, using a strike price of the average closing price from the five trading days before this agreement.
I will provide this service at your Bothell office one full business day per week on a day that is mutually agreeable to both parties.
If payment is not received by the due date, you will be assessed interest charges of 1.5% per month on the unpaid balance starting the month after invoice was originally due. I reserve the right to suspend or terminate my work for non-payment of fees. If my work is suspended or terminated, you agree that I will not be responsible for your failure to meet governmental and other deadlines, for any penalties or interest that may be assessed against you resulting from the failure to meet such deadlines, and for any other damages (including, but not limited to, consequential, indirect, lost profits, or punitive damages) incurred as a result of the suspension or termination of my services.
Additional Services
You may request that I perform additional services not contemplated by this engagement letter or the Proposal. If this occurs, I will communicate with you regarding the scope and estimated cost of these additional services. Engagements for additional services may necessitate that I amend this letter or issue a separate engagement letter or addendum to this engagement letter to reflect the obligations of both parties. In the absence of any other written communications from me documenting additional services, my services will be limited to and governed by the terms of this engagement letter.
Electronic Data Communication and Storage and Use of Third Party Service Provider
In the interest of facilitating my services to your company, I may send data over the Internet, store electronic data via computer software applications hosted remotely on the Internet, or allow access to data through third-party vendors secured portals or clouds. Electronic data that is confidential to your company may be transmitted or stored using these methods. I may use third-party service providers to store or transmit this data, such as providers of accounting software. In using these data communication and storage methods, my firm employs measures designed to maintain data security. I will use reasonable efforts to keep such communications and data access secure in accordance with my obligations under applicable laws and professional standards. I also require all of my third-party vendors to do the same.
You recognize and accept that I have no control over the unauthorized interception or breach of any communications or data once it has been sent or has been subject to unauthorized access, notwithstanding all reasonable security measures employed by me or my third-party vendors. You consent to my use of these electronic devices and applications and submission of confidential client information to third-party service providers during this engagement.
To enhance my services to you, I will use Dropbox, a collaborative, virtual workspace in a protected, online environment. Dropbox allows for real-time collaboration across geographic boundaries and time zones and allows Jeffrey A. May, P. C. and you to share data, engagement information, knowledge, and deliverables in a protected environment. You agree that Jeffrey A. May P. C. has no responsibility for the activities of Dropbox and agree to indemnify and hold Jeffrey A. May P. C. harmless with respect to any and all claims arising from or related to the operation of Dropbox.
Termination and Other Terms
This agreement can be terminated by either party with 30 days written notice.
You agree that any claim arising out of this engagement letter shall be commenced within one year of the delivery of the work product to you, regardless of any longer period of time for commencing such claim as may be set by law.
I reserve the right to withdraw from this engagement without completing my services for any reason, including, but not limited to, if you fail to comply with the terms of this engagement letter or as I determine professional standards require.
If any portion of this engagement letter is deemed invalid or unenforceable, said finding shall not invalidate the remainder of the terms set forth in this engagement letter.
At the completion of my engagement, the original source documents will be returned to you. Workpapers and other documents created by me are my property. Such original workpapers will remain in my control, and copies are not to be distributed without my prior written consent.
Timing of Engagement
I shall begin work under this new engagement letter as soon as practicable in April 2016, with the “effective date” being April 15, 2016, and request a signed copy of this engagement letter within 10 days of your receipt of this letter. My services will conclude upon the end of September 2016.
Indemnification
Mandatory Indemnification. The Company shall indemnify Jeffrey A. May (the “Indemnitee”) from:
1. Third Party Actions . If the Indemnitee is a person who was or is a party or is threatened to be made a party to any proceeding (other than an action by or in the right of the Company) by reason of the fact that he or she is or was an agent of the Company, or by reason of anything done or not done by him or her in any such capacity, against any and all expenses and liabilities of any type whatsoever (including, but not limited to, judgments, fines, ERISA excise taxes or penalties, and amounts paid in settlement) actually and reasonably incurred by him or her in connection with the investigation, defense, settlement or appeal of such proceeding if he or she acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the Company, and, with respect to any criminal action or proceeding, had no reasonable cause to believe his or her conduct was unlawful; and
2. Derivative Actions . If the Indemnitee is a person who was or is a party or is threatened to be made a party to any proceeding by or in the right of the Company to procure a judgment in its favor by reason of the fact that he or she is or was an agent of the Company, or by reason of anything done or not done by him or her in any such capacity, against any amounts paid in settlement of any such proceeding and all expenses actually and reasonably incurred by him or her in connection with the investigation, defense, settlement, or appeal of such proceeding if he or she acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the Company; except that no indemnification under this subsection shall be made in respect of any claim, issue or matter as to which such person shall have been finally adjudged to be liable to the Company after the time for an appeal has expired by a court of competent jurisdiction due to willful misconduct of a culpable nature in the performance of his or her duty to the Company unless and only to the extent that the Court of Chancery or the court in which such proceeding was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, such person is fairly and reasonably entitled to indemnity for such amounts which the Court of Chancery or such other court shall deem proper; and
3. Actions Where Indemnitee is Deceased . If the Indemnitee is a person who was or is a party or is threatened to be made a party to any proceeding by reason of the fact that he or she is or was an agent of the Company, or by reason of anything done or not done by him or her in any such capacity, against any and all expenses and liabilities of any type whatsoever (including, but not limited to, judgments, fines, ERISA excise taxes or penalties, and amounts paid in settlement) actually and reasonably incurred by him or her in connection with the investigation, defense, settlement or appeal of such proceeding if he or she acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the Company, and prior to, during the pendency or after completion of such proceeding the Indemnitee is deceased, except that in a proceeding by or in the right of the Company no indemnification shall be due under the provisions of this subsection in respect of any claim, issue or matter as to which such person shall have been finally adjudged to be liable to the Company after the time for an appeal has expired, by a court of competent jurisdiction due to willful misconduct of a culpable nature in the performance of his or her duty to the Company, unless and only to the extent that the Court of Chancery or the court in which such proceeding was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, such person is fairly and reasonably entitled to indemnity for such amounts which the Court of Chancery or such other court shall deem proper; and
4. Exception for Amounts Covered by Insurance . Notwithstanding the foregoing, the Company shall not be obligated to indemnify the Indemnitee for expenses or liabilities of any type whatsoever (including, but not limited to, judgments, fees, ERISA excise taxes or penalties, and amounts paid in settlement) which have been paid directly to Indemnitee under D&O Insurance.
5. Partial Indemnification. If the Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some or a portion of any expenses or liabilities of any type whatsoever (including, but not limited to, judgments, fines, ERISA excise taxes or penalties, and amounts paid in settlement) incurred by him or her in the investigation, defense, settlement or appeal of a proceeding but not entitled, however, to indemnification for all of the total amount thereof, the Company shall nevertheless indemnify the Indemnitee for such total amount except as to the portion thereof to which the Indemnitee is not entitled.
6. Mandatory Advancement of Expenses . Subject to Section 10 below, the Company shall advance all expenses incurred by the Indemnitee in connection with the investigation, defense, settlement or appeal of any proceeding to which the Indemnitee is a party or is threatened to be made a party by reason of the fact that the Indemnitee is or was an agent of the Company or by reason of anything done or not done by him or her in any such capacity. Indemnitee hereby undertakes to repay such amounts advanced only if, and to the extent that, it shall ultimately be determined that the Indemnitee is not entitled to be indemnified by the Company as authorized hereby. The advances to be made hereunder shall be paid by the Company to the Indemnitee within twenty (20) days following delivery of a written request therefor by the Indemnitee to the Company.
7. Notice and Other Indemnification Procedures.
(a) Promptly after receipt by the Indemnitee of notice of the commencement of or the threat of commencement of any proceeding, the Indemnitee shall, if the Indemnitee believes that indemnification with respect thereto may be sought from the Company under this Agreement, notify the Company of the commencement or threat of commencement thereof.
(b) If, at the time of the receipt of a notice of the commencement of a proceeding pursuant to Section 7(a) hereof, the Company has D&O Insurance in effect, the Company shall give prompt notice of the commencement of such proceeding to the insurers in accordance with the procedures set forth in the respective policies. The Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of the Indemnitee, all amounts payable as a result of such proceeding in accordance with the terms of such policies.
(c) In the event the Company shall be obligated to advance the expenses for any proceeding against the Indemnitee, the Company, if appropriate, shall be entitled to assume the defense of such proceeding, with counsel approved by the Indemnitee, upon the delivery to the Indemnitee of written notice of its election so to do. After delivery of such notice, approval of such counsel by the Indemnitee and the retention of such counsel by the Company, the Company will not be liable to the Indemnitee under this Agreement for any fees of counsel subsequently incurred by the Indemnitee with respect to the same proceeding, provided that (i) the Indemnitee shall have the right to employ his or her counsel in any such proceeding at the Indemnitee’s expense; and (ii) if (A) the employment of counsel by the Indemnitee has been previously authorized by the Company, (B) the Indemnitee shall have reasonably concluded that there may be a conflict of interest between the Company and the Indemnitee in the conduct of any such defense or (C) the Company shall not, in fact, have employed counsel to assume the defense of such proceeding, the fees and expenses of the Indemnitee’s counsel shall be at the expense of the Company.
8. Determination of Right to Indemnification.
(a) To the extent the Indemnitee has been successful on the merits or otherwise in defense of any proceeding referred to in Section 4(a), 4(b) or 4(c) of this Agreement or in the defense of any claim, issue or matter described therein, the Company shall indemnify the Indemnitee against expenses actually and reasonably incurred by him or her in connection therewith.
(b) In the event that Section 8(a) is inapplicable, the Company shall also indemnify the Indemnitee unless, and only to the extent that, the Company shall prove by clear and convincing evidence to a forum listed in Section 8(c) below that the Indemnitee has not met the applicable standard of conduct required to entitle the Indemnitee to such indemnification.
(c) The Indemnitee shall be entitled to select the forum in which the validity of the Company’s claim under Section 8(b) hereof that the Indemnitee is not entitled to indemnification will be heard from among the following:
(1) A quorum of the Board consisting of directors who are not parties to the proceeding for which indemnification is being sought;
(2) The stockholders of the Company;
(3) Legal counsel selected by the Indemnitee and reasonably approved by the Board, which counsel shall make such determination in a written opinion;
(4) A panel of three arbitrators, one of whom is selected by the Company, another of whom is selected by the Indemnitee and the last of whom is selected by the first two arbitrators so selected.
(d) As soon as practicable, and in no event later than 30 days after written notice of the Indemnitee’s choice of forum pursuant to Section 8(c) above, the Company shall, at its own expense, submit to the selected forum in such manner as the Indemnitee or the Indemnitee’s counsel may reasonably request, its claim that the Indemnitee is not entitled to indemnification; and the Company shall act in the utmost good faith to assure the Indemnitee a complete opportunity to defend against such claim.
(e) Notwithstanding a determination by any forum listed in Section 8(c) hereof that the Indemnitee is not entitled to indemnification with respect to a specific proceeding, the Indemnitee shall have the right to apply to the Court of Chancery of Delaware, the court in which that proceeding is or was pending or any other court of competent jurisdiction, for the purpose of enforcing the Indemnitee’s right to indemnification pursuant to the Agreement.
(f) The Company shall indemnify the Indemnitee against all expenses incurred by the Indemnitee in connection with any hearing or proceeding under this Section 8 involving the Indemnitee and against all expenses incurred by the Indemnitee in connection with any other proceeding between the Company and the Indemnitee involving the interpretation or enforcement of the rights of the Indemnitee under this Agreement unless a court of competent jurisdiction finds that each of the material claims and/or defenses of the Indemnitee in any such proceeding was frivolous or not made in good faith.
9. Limitation of Actions and Release of Claims. No proceeding shall be brought and no cause of action shall be asserted by or on behalf of the Company or any subsidiary against the Indemnitee, his or her spouse, heirs, estate, executors or administrators after the expiration of one year from the act or omission of the Indemnitee upon which such proceeding is based; however, in a case where the Indemnitee fraudulently conceals the facts underlying such cause of action, no proceeding shall be brought and no cause of action shall be asserted after the expiration of one year from the earlier of (i) the date the Company or any subsidiary of the Company discovers such facts, or (ii) the date the Company or any subsidiary of the Company could have discovered such facts by the exercise of reasonable diligence. Any claim or cause of action of the Company or any subsidiary of the Company, including claims predicated upon the negligent act or omission of the Indemnitee, shall be extinguished and deemed released unless asserted by filing of a legal action within such period. This Section 9 shall not apply to any cause of action which has accrued on the date hereof and of which the Indemnitee is aware on the date hereof, but as to which the Company has no actual knowledge apart from the Indemnitee’s knowledge.
10. Exceptions. Any other provision herein to the contrary notwithstanding, the Company shall not be obligated pursuant to the terms of this Agreement:
(a) Claims Initiated by Indemnitee. To indemnify or advance expenses to the Indemnitee with respect to proceedings or claims initiated or brought voluntarily by the Indemnitee and not by way of defense, except with respect to proceedings brought to establish or enforce a right to indemnification under this Agreement or any other statute or law or otherwise as required under Section 145, but such indemnification or advancement of expenses may be provided by the Company in specific cases if the Board of Directors finds it to be appropriate; or
(b) Lack of Good Faith. To indemnify the Indemnitee for any expenses incurred by the Indemnitee with respect to any proceeding instituted by the Indemnitee to enforce or interpret this Agreement, if a court of competent jurisdiction determines that each of the material assertions made by the Indemnitee in such proceeding was not made in good faith or was frivolous; or
(c) Unauthorized Settlements. To indemnify the Indemnitee under this Agreement for any amounts paid in settlement of a proceeding unless the Company consents to such settlement; or
(d) Claims by the Company for Willful Misconduct. To indemnify or advance expenses to the Indemnitee under this Agreement for any expenses incurred by the Indemnitee with respect to any proceeding or claim brought by the Company against the Indemnitee for willful misconduct, unless a court of competent jurisdiction determines that each of such claims was not made in good faith or was frivolous; or
(e) Section 16(b). To indemnify Indemnitee for expenses and the payment of profits arising from the purchase and sale by Indemnitee of securities in violation of Section 16(b) of the Securities Exchange Act of 1934, as amended, or any similar successor statute; or
(f) Willful Misconduct. To indemnify the Indemnitee on account of the Indemnitee’s conduct which is finally adjudged to have been knowingly fraudulent or deliberately dishonest, or to constitute willful misconduct; or
(g) Unlawful Indemnification. To indemnify the Indemnitee if a final decision by a court having jurisdiction in the matter shall determine that such indemnification is not lawful; or
(h) Forfeiture of Certain Bonuses and Profits. To indemnify Indemnitee for the payment of amounts required to be reimbursed to the Company pursuant to Section 304 of the Sarbanes-Oxley Act of 2002, as amended, or any similar successor statute.
Entire Agreement
This engagement letter, and the Proposal, encompasses the entire agreement of the parties and supersedes all previous understandings and agreements between the parties, whether oral or written. Any modification to the terms of this engagement letter must be made in writing and signed by both parties.
I appreciate the opportunity to be of service to you. Please sign and date the enclosed copy of this engagement letter and return it, within 10 days of your receipt of it, to acknowledge your agreement with the terms of this engagement.
Very truly yours,
/s/ Jeffrey May
Jeffrey May
President
Jeffrey A. May, P. C.
ACCEPTED:
/s/ Gerard D’Couto
Gerard D'Couto
Chief Executive Officer
Neah Power Systems, Inc
Date: April 15, 2016
Same delay as last year, and the year before.... last year the report did come out on the 22nd
2016-02-16 NT 10-K Documents Notification of inability to timely file Form 10-K 405, 10-K, 10-KSB 405, 10-KSB, 10-KT, or 10-KT405 2016-02-16
We were waiting last year and the year before as well....I think the 10k was out on the 17th....so it could very well be a powerful week.. as per the Neah Tweet.... hours ago.
Jeffery May does not have a good record filing anything on time.... What else does he do for $10,000 a year... or why is he consistently late...an a consultant CFO
There have certainly opportunities to issue good news releases, if we are ready sell drones with a neah battey and sell Stock....yet for some reason the opposite is been happening, no news....
https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001162816&owner=exclude&count=40&hidefilings=0
NT 10-K Documents Notification of inability to timely file Form 10-K 405, 10-K, 10-KSB 405, 10-KSB, 10-KT, or 10-KT405
Acc-no: 0001513162-16-000712 (34 Act) Size: 17 KB 2016-02-16
Notification of inability to timely file Form 10-K 405, 10-K, 10-KSB 405, 10-KSB, 10-KT, or 10-KT405
Acc-no: 0001513162-15-000665 (34 Act) Size: 22 KB 2015-12-29
Notification of inability to timely file Form 10-Q or 10-QSB
Acc-no: 0001513162-16-000955 (34 Act) Size: 34 KB 2016-08-12
New to iHub - The Cannabis Report - Click Here
Neah Power Systems has patented a three-dimensional porous silicon based lithium-metal battery that has demonstrated 1,500 watts per liter of volume and 500 watts per kilogram.
https://www.sbv.org/projects/am-round2-neah.html
This battery uses older generation computer chip manufacturing technology that is widely available throughout the world, enabling a low cost, which the company targets at $150 per kilowatt hour in high volume production. Such a low price point would make the battery applicable across industries, from small devices such as cell phones to larger applications for stationary power, automotive and grid-scale back up. Such a foundry model allows a low capital-cost ramp up into high volume production, with very high quality control. Through the SBV Pilot, the company will utilize Argonne National Laboratory staff and expertise to determine the optimal metallization scheme for porous silicon as well as reliable and reproducible processes and insights into possible causes of degradation, capacity fade and dendrite growth.
PROJECT INNOVATION + ADVANTAGES
In addition to utilizing existing manufacturing technology, the battery uses existing materials for the anode, cathode, the separator and the electrolytes. This reduces the risk of new materials adoption and testing. The technology also includes a unique approach using microchip geometry to control dendrite growth. The understanding acquired through the project will improve the manufacturing of the porous silicon, in particular the metallization process. This will help the company achieve target metrics on cost, and performance, and allow longer cycle lifetime for the battery.
POTENTIAL IMPACT
Economy:
Developing new technologies that can piggyback on older industries preserves jobs, utilizes existing infrastructure and fosters opportunities in advanced manufacturing, including domestic job creation.
Environment:
Electric vehicles reduce pollution associated with gasoline combustion. Electricity storage is also an important complement for renewable electricity systems, which vary in how much power they produce based on local weather conditions.
Security:
Electric vehicles are increasingly cost-competitive with their gasoline counterparts, but consumers will remain hesitant to purchase them until their range grows longer. Higher penetration for such vehicles can dramatically reduce U.S. gasoline consumption and the country's resulting reliance on overseas oil markets.
Most likely there will not be an update until Thursday or Friday if the company keeps to the pattern for the last two years. Late Filings by a $10,000 a month acting CFO, that signs as CPA (with a hold harmless agreement) from a company with strategic planning board, with more than a fair bit of SEC compliance expertise, the rule no doubt bent to the limit.... And keep in mind the time frame that the reports cover they are not current....always months behind...
Where is the 8 k that we all know should be out....?
"While information about other products is currently on the www.neahpower.com website, due to various pending patent developments, the company is providing information on its battery within the constraints of a non-disclosure agreement, and interested parties are requested to contact the company at: info@neahpower.com."
S4W/Voxx has broken that silence, and information once protected by NDA is still currently posted on their website. Looks like Neah is in business and very good news is on the near horizon for investors.
Strategic Advisory Board,Neah Power Systems seems filing late is part of the Strategic Plan... as the board certainly know better...
Robert A. Kruse Jr.
Member of Strategic Advisory Board,Neah Power Systems, Inc.
Age Total Calculated Compensation This person is connected to 11 board members in 1 different organizations across 1 different industries.
See Board Relationships
-- --
Background*
Mr. Robert A. Kruse, Jr., also known as Bob, serves as Chief Technology Officer for Qoros Automotive co. ltd. Mr. Kruse serves on the Engineering Advisory Board of the Missouri University of Science and Technology. Mr. Kruse served as a Vice President of Townsend Capital, LLC. Mr. Kruse's role at Townsend was to strengthen the development of the Townsend Capital's growing portfolio of energy related companies. He joined Townsend Capital in 2013. Prior to joining Townsend, ...
Read Full Background
Joseph R. Bronson
Cowen and Company, LLC
Board Affiliations
Neah Power Systems, Inc.
Mr. Joseph R. Bronson, also known as Joe, has been Strategic Advisor of Cowen and Company, LLC, since February 2014. Mr. Bronson is a Founding Principal of The Bronson Group, LLC and serves as its Chief Executive Officer. He served as the Chief Executive Officer of Silicon Valley Technology Company (SVTC) from January 2009 to March 2010 and served as its President. He served as President and Chief Operating Officer of Sanmina Corporation (alternate name: Sanmina-SCI Corporation) from August 2007 to October 2008. He served as President and Co - Chief Executive Officer of Formfactor Inc. from November 18, 2004 to 2007. He was Consultant of FormFactor Inc. since January 05, 2007. He served as a Member of the Office of the Chief Executive Officer at FormFactor Inc. from November 2004 to January 2007. He served as an Executive Vice President of Global Executive Committee at Applied Materials, Inc. from December 2000 to October 25, 2004 and as Chief Financial Officer from January 1998 to October 25, 2004. Mr. Bronson also served in the Office of the President of Applied Materials Inc., from January 1998 to October 2002 and as Senior Vice President and Chief Administrative Officer from January 1998 to December 2000 and Group Vice President from April 1994 to January 1998. He joined Applied in 1984. He has been employed by Applied Materials since 1990. He served as Controller of Applied Materials from 1984 to 1989. Mr. Bronson served as Vice President and Chief Financial Officer of Stardent Computer from 1989 to 1990 and from 1979 to 1984, he was employed by Schlumberger Limited, where he served as Group Controller from 1983 to 1984. He served as an Advisor to the Chairman and Chief Executive Officer at Sanmina Corporation since October 2008. He served as Managing Director of United States Operations at GCA Savvian Corporation. Mr. Bronson has been a Member of Advisory Board at Advanced Micro-Fabrication Equipment Inc. since December 2006. He has been a Member of Scientific Advisory Board at Neah Power Systems, Inc. since February 2008. He serves as a Director of Applied Ventures, LLC. He serves as a Member of Advisory Board at Momentum Equity Group, LLC. He serves as a Director of Voxa, Inc. Mr. Bronson has been a Director at SDCmaterials, Inc. (formerly, SDCmaterials, LLC) since January 2007. He has been an Independent Director of Jacobs Engineering Group Inc. since 2003. He has been an Independent Director of Maxim Integrated products, Inc. since November 19, 2007. He has been an Independent Director of PDF Solutions Inc. since 2014. He served as the Presiding Director of Jacobs Engineering Group Inc. since January 25, 2007. He served as a Director of Advanced Energy Industries Inc. from January 4, 2005 to October 2007. He served as a Director of FormFactor Inc. from April 2002 to 2007; SVTC Technologies, LLC (Silicon Valley Technology Company (SVTC)) from January 2009 to March 2010 and Sanmina-SCI from August 2007 to January 2009. Mr. Bronson is a Trustee of Fairfield University in Fairfield, Connecticut and Bellarmine Academy Preparatory School in San Jose, California. He also holds the Chair of the Leavey School of Business Advisory Board and the International Business School Advisory Board at the University of Connecticut. He was inducted into the University of Connecticut Business School Hall of Fame in 2005. He a Certified Public Accountant and a Member of the American Institute of CPA's. Mr. Bronson holds a B.S. in Accounting from Fairfield University and an MBA in Financial Management from The University of Connecticut School of Business.
Wilbert G. M. van den Hoek
Farsight Capital, LLC
Board Affiliations
Neah Power Systems, Inc.
William A. Nitze
Climate Clean Inc.
Board Affiliations
Neah Power Systems, Inc.
Executive Profile
William A. Nitze
Vice Chairman and Chief Executive Officer, Climate Clean Inc.
Age Total Calculated Compensation This person is connected to 6 Board Members in 6 different organizations across 6 different industries.
See Board Relationships
73 --
Background
Mr. William A. Nitze serves as Chairman and President of The Aspen Institute. Mr. Nitze serves as Vice Chairman and Chief Executive Officer of Climate Clean Inc. He is Senior Advisor for Energy and Environment Policy at the Transnational Strategy Group. He was employed at Mobil Corporation. He served as an Acting Chief Executive Officer of Hienergy Technologies Inc., since January 24, 2007. He served as the President of The Gemstar Group Inc., from May 2001 to 2005, which he founded in May 2001. Prior to Gemstar, Mr. Nitze served as Assistant Administrator for International Activities during the Clinton Administration at the Environmental Protection Agency from 1994 to 2001. He served as Interim Chief Executive Officer of Climate Clean, Inc. He served as President of Alliance, Save Energy from 1990 to 1994. As Deputy Assistant Secretary of State for Environment in the Reagan and Bush Administrations from 1987 to 1990, Mr. Nitze served as Principal U.S. working level negotiator on multilateral environmental issues ranging from chemical safety to trade in endangered species to climate change. In 1988, Mr. Nitze played a key role in creating and organizing the Intergovernmental Panel on Climate Change. After leaving the State Department in early 1990, Mr. Nitze served as a Visiting Scholar at the Environmental Law Institute, during which time he wrote a monograph entitled The Greenhouse Effect: Formulating a Convention under the auspices of the Royal Institute of nternational Affairs and ELI. Mr. Nitze is also founder of the Alliance's Business Council for Sustainable Energy. Mr. Nitze spent at the Mobil Oil Corporation from 1974 to 987, where he served as Assistant General Counsel, Exploration & Producing Division and General Counsel, Mobil Japan. From 1976 to 1980 was general counsel of Mobil Oil Japan. He is a Co-founder and serves as the Chairman of Oceana Energy Company. He serves as Chairman of Clear Path Technologies, Inc. Mr. Nitze has been Chairman of Oceana Energy Systems since March 2006 and HiEnergy Defense Inc., a subsidiary of Hienergy Technologies Inc., since August 2003. Mr. Nitze Co-founded and served as Chairman of the Board of GridPoint Inc. from November 2003 to October 17, 2007. Mr. Nitze served as Chairman of Hienergy Technologies Inc., since June 2006 and its Interim Chairman from February 2006 to June 2006. He serves as Vice-Chairman of Senseye, Inc. He has been a Director of Ethanex Energy, Inc. since August 27, 2007. He serves as Trustee of Aspen Institute, The. He serves as Director of Climate Clean, Inc. He has been Member of Strategic Advisory Board at Neah Power Systems, Inc., September 9, 2015. He served as a Member of Board of Advisors of GridPoint Inc. Mr. Nitze served as a Director of GridPoint Inc., until October 17, 2007. He served as a Director of Hienergy Technologies Inc., since August 2005. Mr. Nitze is also an Adjunct Fellow at the Center for Strategic & International Studies and chairman of the board of advisors of the European Institute. In 1993-94 and 2002, he taught a new course on forming an international regime to address climate change at the Paul H. Nitze School of Advanced International Studies at The Johns Hopkins University. He is a member of the Council on Foreign Relations. He is a member of the State of New York and U.S. Supreme Court Bars. Mr. Nitze holds B.A. degrees from Harvard College and Wadham College, Oxford University and a J.D. degree from Harvard Law School.
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John P. de Neufville
Eutectix, LLC
Board Affiliations
Neah Power Systems, Inc.
Jon M. Garfield
Clearant, Inc.
Board Affiliations
Neah Power Systems, Inc.
Jon M. Garfield
Chief Executive Officer, Chief Financial Officer, Secretary, Director and Member of Special Committee, Clearant, Inc.
Age Total Calculated Compensation This person is connected to 2 Board Members in 2 different organizations across 5 different industries.
See Board Relationships
52 --
Background
Mr. Jon M. Garfield has been the Chief Executive Officer of Clearant Inc. since January 25, 2007. Mr. Garfield has been the Chief Financial Officer and Secretary of Clearant Inc. since August 15, 2005 and served as its Principal Accounting Officer. He has been the Chief Financial Officer at SocialTyze LLC since August 2012. Mr. Garfield has over 20 years' successful experience as a senior public company, private equity and venture capital executive. Mr. Garfield served as an Independent financial consultant, including advising as to SEC reporting obligations and Sarbanes-Oxley compliance from January 2001 to August 2005. From 1998 to January 2001, Mr. Garfield served as Chief Financial Officer of software developer Simplified Development Inc. and Network Enhanced Telecom LLP (Network IP). He was the Co-Founder at Coach USA. He served as Vice President of Acquisitions of NYSE ground transportation consolidator Coach USA, Inc. from 1996 to 1998. Mr. Garfield served as Corporate Assistant Controller of Maxxim Medical Inc. from 1991 to 1996. From 1986 to 1991, he practiced public accounting with PricewaterhouseCoopers and Arthur Andersen. He has been a Director of Clearant, Inc since May 24, 2007. He has been an Independent Director of Neah Power Systems, Inc. since May 1, 2008. He served as a Director of Truli Media Group, Inc. until May 2013 and Seaniemac International, Ltd. since February 2013 until January 5, 2017. Mr. Garfield holds a Bachelor of Business Administration in Accounting from University of Texas, Austin in 1986. He received his CPA license in 1987.
William M. Shenkin
CEFO, Inc
Board Affiliations
Neah Power Systems, Inc.
William M. Shenkin
Chief Executive Officer and President, CEFO, Inc
Age Total Calculated Compensation This person is connected to 1 Board Members in 1 different organizations across 2 different industries.
See Board Relationships
55 --
Background
Mr. William M. Shenkin, also known as Bill, founded CeFO, Inc. on January 1, 2000 and has been its Chief Executive Officer and President since January 1, 2000. Mr. Shenkin spent fifteen years in public accounting with Ernst & Young and as a Partner at Shenkin Kurtz Baker & Co. ("SKB") from August 1989 to December 1999 and served as its Director Outsourcing Division. From December 1997 to December 1999, he was a national partner in charge of outsourcing for public company (NASDAQ) which acquired Shenkin Kurtz Baker & Co. Mr. Shenkin directed the accounting and outsourcing department at SKB. Mr. Shenkin's career includes acting as Chief Financial Officer and Chief Executive Officer for numerous companies, providing tax planning and compliance for numerous individuals and companies and providing investment-banking services for companies. Some of Mr. Shenkin's engagements included acting Chief Financial Officer for several fitness companies (including acquisition and due diligence of clubs in Asia), interim Chief Financial Officer for a company owned by National Geographic, assisting Colorado with obtaining a Major League Baseball franchise, assisting with mergers and acquisitions and numerous other engagements. He has been a Director of Neah Power Systems, Inc. since November 2013. Mr. Shenkin services on the board of directors for several companies. In 1999 Mr. Shenkin was recognized by the Denver Business Journal as one of Denver's top 40 under 40 business people. He is a Member of American Institute of Certified Public Accountantsm Colorado Institute of Certified Public Accountants and Denver Estate Planning Council. He has a Certified Public Accountant Certification, Florida in 1987 and Certified Information Technology Professional in 2004. Mr. Shenkin holds an M.A. in Accounting from Florida Atlantic University in 1989 and a B.F.A. in Jazz Piano at Florida Atlantic University in 1981.
Gerard C. D'Couto
Neah Power Systems, Inc.
Board Affiliations
Neah Power Systems, Inc.
Jeffrey B. Sakaguchi
Evolution Robotics Retail, Inc.
Board Affiliations
Neah Power Systems, Inc.
James Mutter
Neah Power Systems, Inc.
Board Affiliations
Neah Power Systems, Inc.
Reza Abhari
Neah Power Systems, Inc.
Board Affiliations
Neah Power Systems, Inc.
Mike Vollmar
Raydon Corporation
Board Affiliations
Raydon Corporation
Robert A. Kruse
Neah Power Systems, Inc.
Board Affiliations
Neah Power Systems, Inc.
*Data is at least as current as the most recent Definitive Proxy.
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Name Relationships
William A. Nitze 100 Relationships
Joseph R. Bronson 78 Relationships
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Jeffrey B. Sakaguchi 31 Relationships
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2016-02-16 NT 10-K Documents Notification of inability to timely file Form 10-K 405, 10-K, 10-KSB 405, 10-KSB, 10-KT, or 10-KT405 2016-02-16
We were waiting last year and the year before as well....I think the 10k was out on the 17th....so it could very well be a powerful week.. as per the Neah Tweet.... hours ago.
Jeffery May does not have a good record filing anything on time.... What else does he do for $10,000 a year... or why is he consistently late...an a consultant CFO
There have certainly opportunities to issue good news releases, if we are ready sell drones with a neah battey and sell Stock....yet for some reason the opposite is been happening, no news....
https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001162816&owner=exclude&count=40&hidefilings=0
NT 10-K Documents Notification of inability to timely file Form 10-K 405, 10-K, 10-KSB 405, 10-KSB, 10-KT, or 10-KT405
Acc-no: 0001513162-16-000712 (34 Act) Size: 17 KB 2016-02-16
Notification of inability to timely file Form 10-K 405, 10-K, 10-KSB 405, 10-KSB, 10-KT, or 10-KT405
Acc-no: 0001513162-15-000665 (34 Act) Size: 22 KB 2015-12-29
Notification of inability to timely file Form 10-Q or 10-QSB
Acc-no: 0001513162-16-000955 (34 Act) Size: 34 KB 2016-08-12
Wonder if they will come out with an 8-k Material event - hard to think of a reason than this would not have come out yet - from a teaming partner selling your battery that last for hours. There has to be some sort of battery test done before selling to military and police
Neah Power can be the enabler to allow electric hybrid vehicles to go mainstream
http://www.ai-online.com/Adv/Previous/show_issue.php?id=6509#sthash.fmnjcRp8.dpbs
Clean, safe fuel cell technology ready for the forecourt
by Esther Francis
Fuel cell technology, which was first used in space craft in the 1960s and 70s, is now ready to take to the road, with Hyundai having introduced the first production fuel cell-powered vehicle.
One of the main challenges with the adoption of fuel cells for cars hydrogen is safety issues when used in automobiles.
Neah Power Systems, a developer of innovative, efficient and safe power solutions for the military, transportation, and portable electronics applications, believes it has the solution to this problem. The company has a patent-pending technology that enables the use of 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. According to a white paper from Neah Power, fuel cells are considered one of the cleanest methods of converting fuel into electricity with little, if any, global warming byproducts. Cars will fuel cells are more green than electric vehicles since EVs just move the source of greenhouse gas emission to the electricity generation units. An additional advantage of fuel cells is that they are nearly instantly rechargeable as opposed to traditional batteries. Critical mass will be created through initiatives such as the state of California. Its’ goal for 2050 is for 87% of all cars sold in the state be electric or fuel celled. According to one plan, the majority of those vehicles would be powered by hydrogen fuel cells.
Automotive Industries (AI) asked Chris D’Couto President and Chief Executive Officer, Neah Power Systems and David Schmidt, Board Member and Chief Financial Officer, whether fuel cell-powered cars will become a reality.
D’Couto: Climate change is one of the defining issues of our generation, and will be our legacy for generations to come. Low/no emission cars are one element of addressing that challenge. Fuel cells will definitely play a role in the future of transportation. I am referring to all types of fuel cells – not just Neah Power Systems offerings. A pure play solution – such as purely a battery powered solution or purely a fuel cell solution – presents a number of technological, integration and market adoption challenges. I believe that the winning solution will be a combination of multiple integrated technologies to provide the energy necessary to power a vehicle. The fundamental difference between a fuel cell and a battery is that a fuel cell is an energy generation device whereas a battery is an energy storage device. A battery discharges over a period of time until it needs to be recharged. Rapid recharging of a battery often causes serious complications and as a result recharging a battery is a prolonged process. By contrast a fuel cell generates electricity immediately in the presence of its reactants. Once the formic acid replenished, the Neah Power Systems Forima fuel cell generates electricity instantly. As a result there is no protracted recharging or refueling time issue.
AI: How is your company providing a solution to challenges such as safety and reliability of hydrogen fuelled cars?
D’Couto: Simply put, if there were a spill, one would mop it up. Formic acid is considered a Class 8 corrosive liquid by DOT transportation standards. The lowest known value for auto-ignition spontaneous combustion is 1002.2°F (539°C). In the presence of an open flame formic acid is combustible at 156.2°F (69°C). At 85% it is considered non-flammable. Formic acid is not considered a marine pollutant and readily decomposes into its constituents which are less toxic then the product itself. The recommendations for a small spill of formic acid are to dilute with water and mop up, or absorb with an inert dry material and place in an appropriate waste disposal container. If necessary neutralize the residue with a dilute solution of sodium carbonate. As far as reliability is concerned, fuel cells are considered the most efficient form of conversion of a liquid reactant to energy density. Mind you, this is not a combustion process. This is a catalytic reaction. In the case of Neah Power Systems Direct Methanol Silicon Based Fuel Cell, which is designed for defense and space applications, the company has demonstrated more than 2,000 hours of continuous operation with less than a 4% reduction in power. With regard to the automotive sector and Neah’s Formic Acid Fuel Cell, drivers of electric vehicles commonly suffer from range anxiety. While an electric vehicle may go 200 or 250 miles without a charge a combination of fuel cell and fuel together with a balance of system could travel 500 or even 800 miles depending upon the requirements and design.
AI: How does formic acid compare to compressed hydrogen as fuel for automotive applications?
Schmidt: Fuel cells need hydrogen for the catalytic reaction in order to generate electricity. As such, the hydrogen needs to come from somewhere-whether that is pure compressed hydrogen gas, methanol, hydrogen peroxide, or otherwise. On site, on demand generation of hydrogen at point of use, as in the case of Neah Power Systems Formira formic acid fuel cell specifically eliminates any issues of storing, carrying and transporting high pressure compressed hydrogen gas cylinders.
AI: Do you think other states will follow in California’s footsteps in pushing for 87% clean fuelled cars by 2050?
Schmidt: I think that adoption of clean efficient energy solutions is very important to the future. I also think that while this is a laudable goal and we can make tremendous strides, there are many impediments to make that specific goal attainable. California has been the leader in a variety of areas – from emission standards for cars to lead content in paints, toys, etc., which were then adopted by other states. We believe that will be the case with clean fuelled cars as well. While they would lead the trajectory of early adoption, laggards then tend to benefit from that learning cycle and follow that trajectory. For convergence, it will take a concerted effort on behalf of the inventors, the technologists, integrators, industry, policy and politics, consumers, behavior, and the status quo to make that a reality.
AI: What are some of the impediments to making this vision a reality?
D’Couto: Today there is no consumer transportation-oriented ubiquitous hydrogen storage and refueling station network. There is also no network of rapid charge broad spectrum plug in electric vehicle charging systems. However, there is a global supply chain, storage and distribution network for dispensing multiple types of liquids into automobiles. Adding to or repurposing the existing infrastructure to dispense a different type of liquid is an excellent way to guarantee no disruption in consumer behavior. Once the fuel is depleted, it is simply a matter of re-filling the tank with formic acid. We are already in preliminary discussions with a fuel cell company to license the technology for certain grid scale applications, and we are identifying appropriate automotive partners for this technology, opening up new Served Available Markets (SAM) that are very significant.
AI: What role do you hope your company will play in such a future scenario?
Schmidt: The value proposition that Neah Power offers is a technological product solution offering higher energy densities and lower costs. It is a safe and effective solution that eliminates range and power issues associated with electric vehicles. Neah Power can be the enabler to allow electric hybrid vehicles to go mainstream.
- See more at: http://www.ai-online.com/Adv/Previous/show_issue.php?id=6509#sthash.fmnjcRp8.dpuf
Neah Power Systems ?@neahpowerinc Have a powerful week everyone! and from a few weeks ago... We certainly feel we do.
Neah Power Systems ?@neahpowerinc 7h7 hours ago
More
Thanks to all of our new followers @neahpowerinc over the past few weeks. Have a powerful week everyone!
Neah Power Systems Retweeted
Wonder what they are feeling now....
Streetwise Reports @SWReports
Neah Power has a Better Battery: http://ow.ly/hpx2304tloX $NPWZ @neahpowerinc #batteries #ev #green #energy #gigafactory #lithium
View image on Twitter 23h
Neah Power Systems @neahpowerinc
We certainly feel we do.
Paul Sault, CEO of S4W complemented, “S4W welcomes the opportunity to co-develop and market product incorporating NEAH POWER’s advanced technologies. Our engineering staff and consultants immediately recognized the transformative nature of NEAH POWER’s Formira HOD™ and PowerChip® solutions, specifically, when incorporated in a highly disruptive product like our Smart Body Cam where continuous power is necessary for delivery of the ever-important personnel and public safety benefits they provide. Upon first being introduced to NEAH POWER’s PowerChip® Battery, S4W was eager to become an early adopter. While interviewing countless numbers of public safety personnel about what features they wanted to see standard on a body camera, having the power necessary to make it through an entire shift without battery recharging or replacement, ranked very near the top.”
A Quote from the CEO of the company....seems like as close to proof as you can get....
0.0014 0.0002 16.67% 368,372 6.1M
RWFZS Sunday, 02/12/17 01:38:22 PM
Re: None
Post #
21650
of 21667 Go
More Speculation:
"NEAH is already building samples for field testing for its first customer."
As of June 14, 2016, building of batteries already in progress.
http://www.michigansthumb.com/news/article/New-Battery-Has-5X-More-Energy-Storage-9151661.php
Reason for the silence:
"While information about other products is currently on the www.neahpower.com website, due to various pending patent developments, the company is providing information on its battery within the constraints of a non-disclosure agreement, and interested parties are requested to contact the company at: info@neahpower.com."
S4W/Voxx has broken that silence, and information once protected by NDA is still currently posted on their website. Looks like Neah is in business and very good news is on the near horizon for investors.
Neah Power Systems, Inc. (NPWZ) is engaged in the development and sale of renewable energy solutions using its direct methanol micro fuel cell technology, its formic acid fuel cell technology and its reformer technology. The Company's fuel cells are designed to replace existing rechargeable and non-rechargeable battery technology in a range of applications. Its solutions target the military, transportation and portable electronics applications. Its power solutions include devices, such as notebook personal computers (PCs), military radios and other power-hungry computer, entertainment and communications products. It is developing two fuel cells, the PowerChip and the BuzzCell. Its Formira HOD system is a reformer platform for direct on-site generation of hydrogen gas. The PowerChip is targeted for applications where the quality of the surrounding air is unpredictable or not available, such as diesel-fumes contaminated environments or underwater applications.
Some people take him seriously enough to post on Saturday morning...LOL
Same people that trade 38 shares of stock at the open...LOL..
http://otcshortreport.com/?index=NPWZ&action=view
Date Close High Low Volume Short Volume % of Vol Shorted
Feb 10 0.0012 0.0014 0.001 2,966,973 1,469,466 49.53%
Feb 09 0.0012 0.0014 0.0011 2,769,202 1,599,571 57.76%
Feb 08 0.00118 0.0014 0.001 6,183,640 1,439,000 23.27%
Feb 07 0.0011 0.0014 0.0011 7,766,960 2,984,970 38.43%
Feb 06 0.0012 0.0012 0.0009 5,284,039 1,167,384 22.09%
Feb 03 0.00095 0.0012 0.0009 11,190,956 4,325,000 38.65%
Feb 02 0.001 0.0012 0.0009 6,134,034 2,686,793 43.80%
Feb 01 0.001 0.001 0.0009 3,129,528 385,000 12.30%
Jan 31 0.0011 0.0011 0.0008 11,978,608 1,789,256 14.94%
Jan 30 0.0011 0.0012 0.0009 3,384,325 266,600 7.88%
Jan 27 0.0009 0.0012 0.0009 2,657,800 10,000 0.38%
Jan 26 0.0012 0.0012 0.001 10,849,964 2,281,171 21.02%
Jan 25 0.001 0.0011 0.0008 14,692,398 7,466,776 50.82%
Jan 24 0.00085 0.0009 0.0007 5,620,003 1,002,099 17.83%
Jan 23 0.00085 0.001 0.0008 9,152,802 1,965,000 21.47%
Jan 20 0.0009 0.0009 0.0008 3,673,000 2,225,000 60.58%
Jan 19 0.0008 0.0009 0.0007 12,023,034 4,729,800 39.34%
Jan 18 0.0007 0.0007 0.0006 10,349,575 3,354,000 32.41%
Jan 17 0.00058 0.0007 0.0005 8,625,326 2,424,665 28.11%
Neah is in preliminary discussions with other fuel cell companies to license the reformer technology for
certain grid scale applications.
Hydrogen on Demand & Fuel Cell Based Battery Advancements Lead To Industry Leading Performance Applications for Consumer & Commercial Uses
http://www.prnewswire.com/news-releases/hydrogen-on-demand--fuel-cell-based-battery-advancements-lead-to-industry-leading-performance-applications-for-consumer--commercial-uses-572212871.html
Mar 16, 2016, 08:30 ET from FN Media Group, LLC
In production, available spring 2017
RWFZS Thursday, 02/09/17 10:22:16 AM
Re: ShortonCash post# 21518
Post #
21526
of 21536 Go
In production, available spring 2017.
Read for yourself:
"• Integrated Neah Power battery for extended, multiple Hour flight times."
https://d3ciwvs59ifrt8.cloudfront.net/6867dc99-e989-4019-ad0d-2b574424f2b1/558abb72-5684-4ccc-ab17-9b4f91fcf794.pdf
Sales people will work on the if come all the time...for money...and for stock....if the are on "board" and can see early demo versions, it does not take an engineer to compare batter run times...
Chris has visited the United Arab Emirates (UAE) to explore certain licensing relationships to implement manufacturing and other partnership agreements. There is tremendous interest with the entities I met with to develop UAE into a renewable energy focused hub. We continue to explore and to finalize a mutually beneficial business relationship here.
We are in discussions with the Economic Development Authority of State in the USA regarding relocating to that State to enable their focus on renewable energy and battery storage. We expect this to get finalized in Q2 2016.
We continue to make progress on the previously announced MOU with a South Africa entity. We are in almost daily discussions with them, and are targeting an agreement with them by end of Q2 2016. This will provide a key production pathway for meeting our customer needs.
We have been negotiating a licensing agreement with an entity in India for the BuzzBar Suite and the Formira HOD products. India has been identified as one of the fastest growing markets for off-grid power, and this relationship can enable NEAH products to serve this region.
We have been negotiating a Formira HOD licensing with a group in Taiwan for the Greater China Region. Similar to India, the demand for off-grid power is significant, and continuing to grow in this region. This licensee partner is expected to visit us in the near future which will enable us to complete the anticipated transaction.
During the first quarter of our 2015 fiscal year, we shipped five systems to the Defense Research and Development Organization (DRDO) of the Government of India, and have built multiple Formira reformer demonstrator units, that we are using for acquisition of customers, and to validate the technology. We have shipped over two hundred BuzzBar® units from our initial low rate initial production (LRIP), since introduction of the product. The lessons learned from our LRIP production, and feedback on the design, has been incorporated into the design of our next generation product, BuzzBar Gen3. We expect to start manufacturing and shipping BuzzBar Gen 3 on capitalization of the Company.
Our Formira HOD™, a reformer platform for direct on-site generation of hydrogen gas. Customers will be able carry a liquid with a better safety profile and generate hydrogen gas at point of use rather than carrying high pressure hydrogen gas cylinders. The hydrogen is designed to be consumed directly by a fuel cell, using either our PowerChip® silicon based fuel cell, or commercially available proton exchange membrane (PEM) fuel cells. We had also build a very low power, compact fuel cell, call the BuzzCell®, for integration with our BuzzBar® Suite, which is a solar, fuel cell, battery hybrid charging solution for consumers. More recently, we used our PowerChip silicon architecture to develop a rechargeable lithium battery, that has demonstrated high energy density, making it a very suitable product for consumer and wearable applications, as well as larger scale applications where the w
eight and / or the volume is critical, like automotive applications.
https://www.sec.gov/Archives/edgar/data/1162816/000151316216000973/form10q.htm
We currently are doing our battery development at a third party facility in Beaverton, OR, and the Company is primarily focused on the battery development at this time. We are using a variety of consultants for business development, who are located worldwide, and who are compensated based on commercial success. We currently operate out of Edmonds, Washington.
https://www.sec.gov/Archives/edgar/data/1162816/000151316216000973/form10q.htm
maybe?
http://www.polarisbatterylabs.com/
Third party S4W did not wait it has the drone for sale with the batteries and the fuel cell Spring 2017
Another Non Neah Source that seems to indicate something major is in the works...
It is at approx 7:44
"build a better mousetrap, the world would beat a path to your door." Perhaps the path the other are on to add more silicon is the path Neah Power blazed....as it starts out on a silicon wafer...
And companies would not have to build gigafactories world wide...they can use the generation old chip manufacturing machinery.
Yes but the Neah directors and consultants (no employees LOL) are not just anyone the are imagineers.....
Mr. Robert A. Kruse, Jr., also known as Bob, serves as Chief Technology Officer for Qoros Automotive co.
Bet on Bob most like has many connections and a positive outlook to the future success of the the battery design... and know his way around the business .... The Doc is likely doing well to follow his suggestions... [b ] Very little prior to December 8th has any bearing Neah Power, the plan to pursue the batteries is the good hands, and the Doc is not alone...He has been Member of Strategic Advisory Board of Neah Power Systems, Inc. since December 8, 2015
A chief Tech officer like this know what to ask before he comes aboard, and comes aboard with a plan to work with someone major....IMO
The boys on the board here know it....
Mr. Robert A. Kruse, Jr., also known as Bob, serves as Chief Technology Officer for Qoros Automotive co. ltd. Mr. Kruse serves on the Engineering Advisory Board of the Missouri University of Science and Technology. Mr. Kruse served as a Vice President of Townsend Capital, LLC. Mr. Kruse's role at Townsend was to strengthen the development of the Townsend Capital's growing portfolio of energy related companies. He joined Townsend Capital in 2013. Prior to joining Townsend, he served as the Chief Operating Officer and Board Director of Sakti3. Prior thereto, Mr. Kruse founded his own consulting company with several Fortune 500 companies as his major clients. In 2009, Mr. Kruse concluded a 31 year career with General Motors, where he created and led the team that executed the Chevrolet Volt and the Volt's battery. Along with the Volt's creation, he developed the largest battery testing facility in North America for GM, followed by several other battery test facilities for other companies. While employed with General Motors, Mr. Kruse developed vast experience with lean engineering and manufacturing techniques, and created and led teams that have executed some of the most successful vehicles in the company's history. He was the Co-Founder and Co-Director of the General Motors / University of Michigan research center "Advanced Battery Coalition for Drivetrains." He over 35 years of engineering, executive, automotive, and start-up experience. He has been Member of Strategic Advisory Board of Neah Power Systems, Inc. since December 8, 2015. He holds a M.S. in Management from the Massachusetts Institute of Technology as a Sloan Fellow and a B.S. in Electrical Engineering from the Missouri University of Science and Technology.
They are a merger target with the tax loss carry forward numbers
This for 2015 before the extra attention from the battery design.
http://neahpower.com/wp-content/uploads/2015/06/consilium-global-research_3-18-2015.pdf
We offer the following summary of the company’s IP in combination with some other value elements as a reasonable compendium to measure the company’s latent value. Table 8 This sum of the parts approach produces a present value of all of the company’s intellectual assets and tax loss carry-forwards of $117.7 million. In our second, more practical approach, we estimated the company’s likely revenue progression over the next two years and calculated a revenue achievement of $14.5 million which, when a 3x revenue multiple is applied, produces a value of approximately $43.5 million which, discounted at a 15% annual discount rate over two years produces a base value of $32.9 million. Add in the tax loss carry-forwards estimated value of $14 million and a total value of $46.9 million can be calculated. Currently the company is trading with an enterprise value of about $6 million. The steep discount from our valuation calculations is almost certainly attributed to the enduring inability of the company to generate revenues and the generally disappointing history of fuel cell investments. Investing at this time before real commercial corroboration takes place has its obvious risks, but it will not take long to respond positively if any of the pending customer discussions translate to real material engagements. It is understandable, however, why the market is taking a “show me” attitude towards this company and its stock
This was before the battery design in 2015.... its much more now...
We certainly feel we do.
Streetwise Reports @SWReports
Neah Power has a Better Battery: http://ow.ly/hpx2304tloX $NPWZ @neahpowerinc #batteries #ev #green #energy #gigafactory #lithium
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Neah Power Systems @neahpowerinc
We certainly feel we do.
But what if they could?
http://www.newsusa.com/articles/article/new-battery-has-5x-more-energy-storage.aspx
Imagine charging your cell phone or tablet weekly instead of daily or multiple times per day. Or driving an electric car for 1,000 miles instead of 260 before needing a recharge.
That's the question that set Washington-based NEAH Power Systems Inc., on the path to finding a solution to power everything from your laptop to your tablet to your car. And the answer, says the company, may be closer than you think.
At the heart of its products is the PowerChip Battery -- a dynamic new energy technology that has applications for consumer, commercial and automotive clients, to solve specific power requirements.
Unlike other new-age battery concepts, the NEAH battery uses only standard battery components that are found in existing batteries used today -- just used differently. NEAH has 15 patents and 11 pending patent applications for, among others, the use of silicon substrates for fuel cells and batteries. In NEAH's PowerChip Battery, the company is building a rechargeable lithium battery in a 3-D architecture, using industry standard materials that provide high density (energy per unit weight or per unit volume), and can address the safety concerns typically seen in lithium -- ion batteries. NEAH is already building samples for field testing for its first customer.
"We use our patented porous silicon 3D architectures to maximize power. This is the first truly new battery design in the past 50 years that is manufactureable by using older-generation computer chip manufacturing equipment. We have seen tremendous improvements with Moore's law in semiconductors, and this battery brings similar economies of scale to the battery landscape as well. We finally have a battery capable of delivering the portable and wearable power required to maximize the 24x7 needs of our interconnected life." says NEAH's CEO, Dr. Chris D'Couto, "Our company goal was to not only make batteries lighter, smaller and more powerful, but to make them more affordable than traditional batteries. People are tired of having to recharge their smart phones during their daily activities."
Because of this cutting-edge technology, NEAH caught the attention of Tritente of Alexandria, Va., a Global Energy and Micro-Data Center company Tritente recently said it plans to deploy greater than $20 million of NEAH's PowerChip batteries in their projects in Africa, Europe and the Caribbean. By using NEAH's high-capacity energy generation and storage products, Tritente is able to bring the Artilium-Africa Micro-Data Center technologies to third-world population centers without a 24/7 grid system.
"We chose NEAH because its next -generation energy storage system is powerful, cost effective and compatible with Tritente's $6 billion plan to deploy renewable energy in Africa and to bring the Artilium-Africa solution to every African country mobile operation, educational institution, government entities, and every cell phone holder," says Paul Delkaso, chief executive officer of Tritente and managing partner of Artilium-Africa.
Currently, Artrillium-Africa expects to have between 10 to 20 data centers throughout each country throughout Africa. Most will be powered by renewable energy and will include NEAH's MicroChip next-generation energy storage system.
Paul Sault, CEO of S4W complemented, “S4W welcomes the opportunity to co-develop and market product incorporating NEAH POWER’s advanced technologies. Our engineering staff and consultants immediately recognized the transformative nature of NEAH POWER’s Formira HOD™ and PowerChip® solutions, specifically, when incorporated in a highly disruptive product like our Smart Body Cam where continuous power is necessary for delivery of the ever-important personnel and public safety benefits they provide. Upon first being introduced to NEAH POWER’s PowerChip® Battery, S4W was eager to become an early adopter. While interviewing countless numbers of public safety personnel about what features they wanted to see standard on a body camera, having the power necessary to make it through an entire shift without battery recharging or replacement, ranked very near the top.”
A Quote from the CEO of the company....seems like as close to proof as you can get....
ooks like the annoucement from Sept 16, 2015 is about to bear fruit.
Bothell, WA (Sept 16, 2015) – NEAH Power Systems, Inc. (OTCBB: NPWZ) (“NEAH POWER”) and S4W Worldwide Technologies (“S4W”) have announced a teaming agreement, by which both parties will work together to integrate NEAH POWER’s patented power generation and energy storage technologies with S4W’s industry leading security and defense products.
Under the agreement, NEAH POWER will deliver commercial units of its patented formic acid reformer fuel cell (Formira HOD™) and engineering units of its PowerChip® fuel cell and PowerChip® Battery. In addition, NEAH POWER will provide S4W with engineering and technical support to ensure successful integration into S4W’s products.
The agreement, which allows NEAH POWER and S4W to cooperatively market each of the other’s products, is expected to expand the number of distribution and sales channels available to the partners, and allow each to fully exploit the capabilities and growing customer bases of the other, with high capital efficiency.
Of particular focus in the agreement, is the cooperation of the parties on the anticipated commercialization and release of NEAH POWER’s ground breaking porous silicon-chip based PowerChip® Battery. In connection with the agreement, NEAH POWER will deliver S4W, as a preferred partner, initial production runs of the PowerChip® Battery for incorporation in S4W’s state-of-the-art body worn cameras currently being marketed to police and security professionals worldwide.
“We are most enthused to partner with S4W and their engineering teams to develop industry leading products with unprecedented durations of operation”, announced Chris D’Couto, President and CEO of Neah Power Systems, Inc. “The partnership with S4W, with its high caliber management and sales organization, will allow us to further advance our system integration strategy, while increasing the number of markets for the products offered by NEAH POWER and its partners. I strongly believe that this cooperation between NEAH POWER and S4W fits perfectly with our mantra to deliver power generation and energy storage solutions that are ‘smaller, lighter and more powerful’.”
Paul Sault, CEO of S4W complemented, “S4W welcomes the opportunity to co-develop and market product incorporating NEAH POWER’s advanced technologies. Our engineering staff and consultants immediately recognized the transformative nature of NEAH POWER’s Formira HOD™ and PowerChip® solutions, specifically, when incorporated in a highly disruptive product like our Smart Body Cam where continuous power is necessary for delivery of the ever-important personnel and public safety benefits they provide. Upon first being introduced to NEAH POWER’s PowerChip® Battery, S4W was eager to become an early adopter. While interviewing countless numbers of public safety personnel about what features they wanted to see standard on a body camera, having the power necessary to make it through an entire shift without battery recharging or replacement, ranked very near the top.”
Chris D’Couto added, “As previously reported, NEAH POWER has incorporated its award-winning and patented PowerChip® fuel cell architecture into the patent pending PowerChip® battery. To date, this new battery design has exhibited unprecedented performance characteristics.
Neah had quite the list of deals pending... it would be great if we could get more details than the last shareholders NOV 3rd letter which was rather brief... there would much more support with statement as to the status of pending issues from prior shareholder letters...
What is the status of Shorai Acquisition
Status of the Shorai Acquisition
Due to the lack of transaction financing, we have decided to postpone the Shorai Acquisition until a larger financing can be closed.
Business Update:
The work related to DOE grant has started, and we have been exchanging various information with Argonne National Laboratory. We will continue to update as we make progress on this.
We are negotiating with groups in India to license the non-battery technologies for certain market rights in India. This is still in early stage, and we continue to maintain dialog. The group that we eventually partner with would also be instrumental in negotiating the licensing with the DRDO.
We are getting interest from multiple parties from the consumer to the defense sector on the battery. We continue to maintain dialog with these groups while we strive to complete the capitalization of the Company.
Thank you for your continued support, and best regards,
Chris D'Couto
President & CEO
Detail from the March 2016 shareholder letter could use a follow up statement....
Business update:
NEAH was invited to participate in the White House briefing on Feb 17. We have had various commercialization and capitalization discussions occur based on the networking at that event. As a direct result of attending the White House conference on Climate Change, we have been invited to attend three USTDA Reverse Trade Missions Focused on Energy Storage. The delegates are senior officials from South Africa, Jordon, Brazil, Colombia, India, the Philippines, Turkey and Vietnam.
I recently visited the United Arab Emirates (UAE) to explore certain licensing relationships to implement manufacturing and other partnership agreements. There is tremendous interest with the entities I met with to develop UAE into a renewable energy focused hub. We continue to explore and to finalize a mutually beneficial business relationship here.
We are in discussions with the Economic Development Authority of State in the USA regarding relocating to that State to enable their focus on renewable energy and battery storage. We expect this to get finalized in Q2 2016.
We continue to make progress on the previously announced MOU with a South Africa entity. We are in almost daily discussions with them, and are targeting an agreement with them by end of Q2 2016. This will provide a key production pathway for meeting our customer needs.
We have been negotiating a licensing agreement with an entity in India for the BuzzBar Suite and the Formira HOD products. India has been identified as one of the fastest growing markets for off-grid power, and this relationship can enable NEAH products to serve this region.
We have been negotiating a Formira HOD licensing with a group in Taiwan for the Greater China Region. Similar to India, the demand for off-grid power is significant, and continuing to grow in this region. This licensee partner is expected to visit us in the near future which will enable us to complete the anticipated transaction.
Our discussions with the DRDO are ongoing, and we expect to schedule a visit in Q2 2016.
We plan to submit for two separate grants for certain DOE funding with a National Laboratory in the US during the next 30 days.
Finally, the PowerChip® Battery continues to get tremendous interest from consumers and commercial entities. We are negotiating preliminary orders for this product, and due to the outsourced manufacturing model, we believe we can manufacture this very capital efficiently
And we wold all like a Sales Update
Customer Sales / Licensing Discussions
The Company is also actively engaged in the following sales and licensing initiatives which are expected to deliver results and sales revenues in the near term:
We have a non-binding MOU for a strategic Joint Venture with a South African Consortium comprised of a Provincial Government and Platinum Mining Conglomerates regarding the sale and transfer of a license to produce NEAH Power’s fuel cell products for sale in Africa and the Middle East. Said JV is expected to generate significant revenues, as well as provide a preferred source of raw materials for the production of NEAH Power fuel cells and reformers. This JV is expected to generate short term revenue and ongoing royalty payments creating significant long term value for the Company. We are finalizing dates to visit, and to potentially execute final documents during the visit, for this initiative.
Our Teaming Agreements with Clear Path Technologies, Tectonica (Pvt) Ltd, S4W Technologies, Silent Falcon and Black-I Robotics, to integrate NEAH Power’s power generation and energy storage technologies in mature product lines with established customer bases, while rapidly and cost-effectively developing global markets for its products. Some of the licensing agreements under negotiation, discussed in Part I, developed from these Teaming agreements. Anticipated sales revenues under these teaming agreements is expected to reach $20mm in three years.
We are discussing a strategic Joint Venture with a Street Furniture/Outdoor Advertising company regarding the sale and integration of NEAH Power’s remote power solutions for long-term operation of public advertising displays to be installed under existing municipal contracts. Anticipated sales revenues under this JV is expected to reach $6mm in two years.
Thank you for your continued support, and best regards,
As long as Neah now has battery technology (and it appears it does read the sticky reqarding S4W drone sales) could be used for automotive and defense applications as well. The technology is scaleable and could be used for about anything...
Whatever they said in the past does not really matter....
The NEAH PowerChip® Battery is the first battery to be made with high volume capable microchip manufacturing technology in semiconductor facilities (foundries) throughout the world. NEAH and numerous electrochemical engineers worldwide envision this new NEAH Battery architecture as transformative as it will change the way batteries are made, used and perform. The proprietary architecture of the PowerChip® Battery brings batteries into the microchip era, using the same manufacturing technologies that made television sets, cell phones, laptops and a variety of devices more compact with superior performance at lower cost. While initially targeted for consumer oriented applications, the battery technology could be used for automotive and defense applications as well.
Read the full NPWZ Press Release at: http://financialnewsmedia.com/profiles/npwz.html
Dr. Chris D'Couto, President & CEO of NEAH said, "We look forward to working closely with Argonne National Laboratory, which is uniquely qualified to characterize the performance metrics associated with our unique battery architecture. This unique 3D architecture using lithium metal anodes enables more than five times the performance of batteries in production today. We at NEAH believe that the characterization of the battery by Argonne National Laboratory will further enhance the performance and manufacturability of the battery. It will also help us understand the most critical electrochemical reactions. This DOE/Argonne relationship will provide advanced technology learnings, leapfrogging what would be possible in a privately held laboratory.
Neah Power offers is a technological product solution offering higher energy densities and lower costs. It is a safe and effective solution that eliminates range and power issues associated with electric vehicles.
IMO that matters when a sub penny stock can make that claim...and has a solution at hand ready for sale in a drone.
The solution is ready market as the drone sales where set for this spring...
Old post do matter...
Unlike the prior post about the remove of the drone with the Neah solution being removed from the website....
Neah Power can be the enabler to allow electric hybrid vehicles to go mainstream
http://www.ai-online.com/Adv/Previous/show_issue.php?id=6509#sthash.fmnjcRp8.dpbs
Clean, safe fuel cell technology ready for the forecourt
by Esther Francis
Fuel cell technology, which was first used in space craft in the 1960s and 70s, is now ready to take to the road, with Hyundai having introduced the first production fuel cell-powered vehicle.
One of the main challenges with the adoption of fuel cells for cars hydrogen is safety issues when used in automobiles.
Neah Power Systems, a developer of innovative, efficient and safe power solutions for the military, transportation, and portable electronics applications, believes it has the solution to this problem. The company has a patent-pending technology that enables the use of 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. According to a white paper from Neah Power, fuel cells are considered one of the cleanest methods of converting fuel into electricity with little, if any, global warming byproducts. Cars will fuel cells are more green than electric vehicles since EVs just move the source of greenhouse gas emission to the electricity generation units. An additional advantage of fuel cells is that they are nearly instantly rechargeable as opposed to traditional batteries. Critical mass will be created through initiatives such as the state of California. Its’ goal for 2050 is for 87% of all cars sold in the state be electric or fuel celled. According to one plan, the majority of those vehicles would be powered by hydrogen fuel cells.
Automotive Industries (AI) asked Chris D’Couto President and Chief Executive Officer, Neah Power Systems and David Schmidt, Board Member and Chief Financial Officer, whether fuel cell-powered cars will become a reality.
D’Couto: Climate change is one of the defining issues of our generation, and will be our legacy for generations to come. Low/no emission cars are one element of addressing that challenge. Fuel cells will definitely play a role in the future of transportation. I am referring to all types of fuel cells – not just Neah Power Systems offerings. A pure play solution – such as purely a battery powered solution or purely a fuel cell solution – presents a number of technological, integration and market adoption challenges. I believe that the winning solution will be a combination of multiple integrated technologies to provide the energy necessary to power a vehicle. The fundamental difference between a fuel cell and a battery is that a fuel cell is an energy generation device whereas a battery is an energy storage device. A battery discharges over a period of time until it needs to be recharged. Rapid recharging of a battery often causes serious complications and as a result recharging a battery is a prolonged process. By contrast a fuel cell generates electricity immediately in the presence of its reactants. Once the formic acid replenished, the Neah Power Systems Forima fuel cell generates electricity instantly. As a result there is no protracted recharging or refueling time issue.
AI: How is your company providing a solution to challenges such as safety and reliability of hydrogen fuelled cars?
D’Couto: Simply put, if there were a spill, one would mop it up. Formic acid is considered a Class 8 corrosive liquid by DOT transportation standards. The lowest known value for auto-ignition spontaneous combustion is 1002.2°F (539°C). In the presence of an open flame formic acid is combustible at 156.2°F (69°C). At 85% it is considered non-flammable. Formic acid is not considered a marine pollutant and readily decomposes into its constituents which are less toxic then the product itself. The recommendations for a small spill of formic acid are to dilute with water and mop up, or absorb with an inert dry material and place in an appropriate waste disposal container. If necessary neutralize the residue with a dilute solution of sodium carbonate. As far as reliability is concerned, fuel cells are considered the most efficient form of conversion of a liquid reactant to energy density. Mind you, this is not a combustion process. This is a catalytic reaction. In the case of Neah Power Systems Direct Methanol Silicon Based Fuel Cell, which is designed for defense and space applications, the company has demonstrated more than 2,000 hours of continuous operation with less than a 4% reduction in power. With regard to the automotive sector and Neah’s Formic Acid Fuel Cell, drivers of electric vehicles commonly suffer from range anxiety. While an electric vehicle may go 200 or 250 miles without a charge a combination of fuel cell and fuel together with a balance of system could travel 500 or even 800 miles depending upon the requirements and design.
AI: How does formic acid compare to compressed hydrogen as fuel for automotive applications?
Schmidt: Fuel cells need hydrogen for the catalytic reaction in order to generate electricity. As such, the hydrogen needs to come from somewhere-whether that is pure compressed hydrogen gas, methanol, hydrogen peroxide, or otherwise. On site, on demand generation of hydrogen at point of use, as in the case of Neah Power Systems Formira formic acid fuel cell specifically eliminates any issues of storing, carrying and transporting high pressure compressed hydrogen gas cylinders.
AI: Do you think other states will follow in California’s footsteps in pushing for 87% clean fuelled cars by 2050?
Schmidt: I think that adoption of clean efficient energy solutions is very important to the future. I also think that while this is a laudable goal and we can make tremendous strides, there are many impediments to make that specific goal attainable. California has been the leader in a variety of areas – from emission standards for cars to lead content in paints, toys, etc., which were then adopted by other states. We believe that will be the case with clean fuelled cars as well. While they would lead the trajectory of early adoption, laggards then tend to benefit from that learning cycle and follow that trajectory. For convergence, it will take a concerted effort on behalf of the inventors, the technologists, integrators, industry, policy and politics, consumers, behavior, and the status quo to make that a reality.
AI: What are some of the impediments to making this vision a reality?
D’Couto: Today there is no consumer transportation-oriented ubiquitous hydrogen storage and refueling station network. There is also no network of rapid charge broad spectrum plug in electric vehicle charging systems. However, there is a global supply chain, storage and distribution network for dispensing multiple types of liquids into automobiles. Adding to or repurposing the existing infrastructure to dispense a different type of liquid is an excellent way to guarantee no disruption in consumer behavior. Once the fuel is depleted, it is simply a matter of re-filling the tank with formic acid. We are already in preliminary discussions with a fuel cell company to license the technology for certain grid scale applications, and we are identifying appropriate automotive partners for this technology, opening up new Served Available Markets (SAM) that are very significant.
AI: What role do you hope your company will play in such a future scenario?
Schmidt: The value proposition that Neah Power offers is a technological product solution offering higher energy densities and lower costs. It is a safe and effective solution that eliminates range and power issues associated with electric vehicles. Neah Power can be the enabler to allow electric hybrid vehicles to go mainstream.
- See more at: http://www.ai-online.com/Adv/Previous/show_issue.php?id=6509#sthash.fmnjcRp8.dpuf
Neah Power has a deal with Santa Rosa, California,-firm Liquid Image to produce 100 batteries for wearable police body cameras. Those batteries are expected to hold enough charge for 13 hours instead of four hours with current standard rechargeable batteries, D’Couto said.
If testing is successful, Liquid Image wants to buy 200,000 PowerChip Batteries.
This type of battery technology could also be used for the increasing number of electric vehicles, D’Couto said. And that could extend the range for electric cars by hundreds of miles.
The design uses the same manufacturing technologies that made television sets, cell phones and laptops more compact and capable, D’Couto said.
http://www.heraldnet.com/business/grant-to-give-boost-to-battery-developed-by-neah-power/
Finally, the PowerChip® Battery continues to get tremendous interest from consumers and commercial entities. We are negotiating preliminary orders for this product, and due to the outsourced manufacturing model, we believe we can manufacture this very capital efficiently
http://neahpower.com/2016/03/neah-power-systems-issues-letter-to-shareholders-march-2016/
Neah Power has functional units in a variety of configurations that would be appropriate for automotive applications.
If the drone has the batteries paired up with the fuel cell for extended flights as per the sales sheet for S4W (see stickies) the automotive applications are as follows....
An oldie but goodie.....and where is David now and what did he do to earn the extra consultant fees. What what the 10 million dollar worth of deals he has on his LinkedIn in page... Wonder how that will be address in the new updated reports....
In order to get the hours of flight time the batteries may be paired up with the fuel cell....
http://www.altenergymag.com/content.php?post_type=2338
One company working directly with hydrogen fuel cells for cars is Neah Power Systems. Their patent-pending technology of fuel cells 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 and allows for traveling longer distances than electric cars.
Most hydrogen fuel cells are basically hydrogen bombs, how are Neah Powers different?
Fuel cells need hydrogen for the catalytic reaction in order to generate electricity. As such, the hydrogen needs to come from somewhere whether that is pure compressed hydrogen gas, methanol, hydrogen peroxide, or otherwise. On site, on demand generation of hydrogen at point of use, such is the case with Neah Power Systems Formira formic acid fuel cell, specifically eliminates any issues, real or perceived, of storing, carrying and transporting high pressure compressed hydrogen gas cylinders wrapped in Kevlar. Inside the reformer, formic acid readily decomposes in the presence of a catalyst, thereby producing hydrogen gas which is connected directly to a fuel cell providing enough hydrogen to generate the needed electricity.
What would happen if the formic acid was to leak from a car and how would one go about cleaning it up?
Simply put, if there were a leak it would get mopped up. There are established protocols for handling all types of chemical spills. Formic acid is considered a Class 8 corrosive liquid by DOT transportation standards. The lowest known value for auto-ignition spontaneous combustion is 1002.2°F (539°C). In the presence of an open flame formic acid is combustible at 156.2°F (69°C). Formic acid is not considered a marine pollutant and readily decomposes into its constituents which are less toxic then the product itself. The recommendations for a small spill of formic acid are to dilute with water and mop up, or absorb with an inert dry material and place in an appropriate waste disposal container. If necessary neutralize the residue with a dilute solution of sodium carbonate.
How much longer will a Neah Power fuel cell allow an auto to go on a single charge?
Electric vehicles commonly suffer from range anxiety. That is going a particular distance and running out of power without readily available source of recharging. While an electric vehicle may go 200 or 250 miles without a charge a combination of fuel cell and fuel together with a balance of system could travel 500 or even 800 miles depending upon the specific requirements and design.
What is the normal electric fuel cell charging time?
The fundamental difference between a fuel cell and a battery is that a fuel cell is an energy generation device whereas a battery is an energy storage device. A battery discharges over a period of time until it needs to be recharged. Rapid recharging of a battery often causes serious complications and as a result recharging a battery is a prolonged process. By contrast a fuel cell generates electricity immediately in the presence of its reactants. Once the formic acid is replenished the Forima fuel cell generates electricity instantly. As a result there is no protracted recharging or refueling time issue.
How would you go about charging a vehicle with a fuel cell and where would one go to charge it?
Today there is no consumer transportation oriented ubiquitous hydrogen storage and refueling stations. Today there is no rapid charge broad spectrum plug in electric vehicle charging system. However, today there is a global supply chain storage and distribution network for dispensing multiple types of liquids into automobiles and getting consumers on the road in a matter of minutes. Adding to or repurposing the existing infrastructure to dispense another different type of liquid, which they do anyway today with both diesel and gasoline, is an excellent way to guarantee no disruption in consumer behavior. Once the fuel is depleted, the fuel needs to be replaced and you are ready to go. It is simply a matter of re-filling the tank with Formic.
Are there standards in place to unify the requirements of fuel cell charging?
At the moment there are no unifying standards and that would have to be addressed. That being said, Formic Acid is a long time used commodity chemical used for industrial processing, and has regulations and a safety profile around it.
What would be required to build out the infrastructure for a fuel cell charging network?
The activity set of deployment, would be the repurposing of the existing infrastructure to store and deliver formic acid which has an environmental, safety and hazard profile which is substantially less then that of gasoline or diesel.
Would a Neah Power Fuel Cell make a car more expensive, less expensive or the same?
We like to think that a Neah Power Fuel Cell powered automobile would make a car less expensive on any number of measures including upfront cost, maintence costs, as well as total cost of ownership - however that would be an issue that would play out with the automotive manufacturers.
How quickly would Neah be able to provide a fuel cell for say a number one auto company like Toyota?
Neah Power has functional units in a variety of configurations that would be appropriate for automotive applications. The balance of system and integration of the fuel cell into the electronics would be a joint development process with the identified automobile company. As such, the successful approach is to characterize the fuel cell, have a specific application development program followed by production and product sales.
Is there an intense manufacturing process involved in scaling up production of fuel cells for automotive applications? What kind of infrastructure is required and what kind of jobs would result?
There is not an intense manufacturing process involved in scale up production of Neah Power Fuel Cells. The scaling of production is a matter of electronics assembly and plastics injection molding similar to that of other electronic assemblies,
The value proposition that Neah Power can offer is higher energy densities and lower costs, offering a safe and effective solution and eliminating range and power issues associated with electric vehicles. Neah Power becomes the enabler allow electric hybrid vehicles to go mainstream.
8-k Material event - hard to think of a reason than this would not have come out yet - from a teaming partner selling your battery that last for hours. There has to be some sort of battery test done before selling to military and police
Maybe, or things did not fall apart and they have a battery ready to go
Which seem more likely if you read the stickie. And some one benifits from the illusion as often point out on this board. Time will tell