Neah Power Systems Inc (OTCBB:NPWZ) has come in the spotlight, after being covered by StockNewsNow.com. The company CEO, Dr. Christopher D’Couto, was interviewed by the news provider. The video of the interview has been published on the website for public viewing. Neah Power covers a wide range of applications, including power solutions for the military, portable electronics and the transportation sector. The interview took place at the Las Vegas Growth Capital Expo 2015.
The coverage gave the company exposure to the market and broadcast its vision and developments to investors throughout the country. Neah Power sells renewable energy solutions to a wide range of industries, with the aid of proprietary fuel cell technology. The company aims to replace rechargeable and non-rechargeable batteries in most pieces of technology. At the moment, Neah Power has clients in the military, portable electronics and transportation sectors, but it aims to expand its working towards a number of other applications. The plus side of using a fuel cell instead of a battery is its long life.
Currently, Neah Power has two classes of fuel cells in the market, the st Power Chip and the nd Buzz Cell. The power chip is a silicon based fuel cell, which uses conventional microchips during the manufacturing procedure. The Buzz Cell is essentially the same as the Power Chip, but with the added difference of polymeric materials being used in the manufacturing process to make them cheaper. Additionally, the company also has a product under development, Formira. It removes the need to carry pressurized hydrogen cylinders for the fuel cells, instead produces it on demand from a safe portable liquid.
Unfortunately, the company is weak in terms of its financing. As per the latest quarterly filing, Neah Power has $272,000 in cash and revenues of $6,000 for the quarter, whereas the net loss for the quarter exceeded $1.1 million. The company’s development and marketing projects seem to be taking up more cash than the company can produce.
Neah Power Systems Inc (OTCBB:NPWZ) traded 1.12 billion shares in yesterday’s session, but failed to report any change and closed at $0.0078.