Neah Power Systems Inc (OTCBB:NPWZ)’s upward momentum continues to gain traction as the company closes in on its 52 week high of $0.01. The strong upside run comes on the signing of a memorandum of understanding for the resale, support and distribution of its Formira HODTM fuel cell. Clear Path Technologies is Neah Power partner on the MOU.
Neah Power-Clear Path MOU
Clear Path is to provide Neah Power Systems Inc (OTCBB:NPWZ) with advanced systems integration, technical and operation support as part of the agreement. Neah is set to benefit from well configured liberal distribution and sales channels that Clear Path has developed over the years as well as direct access to a number of end users and government agencies.
Neah Power develops and sales renewable energy solutions using proprietary fuel cell technology. The company is currently developing solutions that it hopes will address the needs of military, transportations, and portable electronics application.
The Teaming Agreement for business development allows Neah Power Systems Inc (OTCBB:NPWZ) to pursue business opportunities with the U.S Department of Defense, Department of Homeland Security and Department of Energy. Neah Power will also have an opportunity to pursue security and defense opportunities with foreign government counterparts.
Neah Power’s Expanding Market Place
Neah is looking forward to expanding its presence into other markets such as the Middle East, Asia and Africa where Clear Path has built strong relationships over the years. Clear Path has already identified a new demand for Neah products applications in the new markets.
Clear Path has also promised to work closely with Neah Power in delivering robust and reliable fuel systems that can tolerate all the conditions that systems experience, more so in challenging environmental conditions. Neah Power Systems Inc (OTCBB:NPWZ) has a rich list of intellectual property portfolio made of 14 already issued patents and eight pending approval.
The stock has enjoyed an impressive run after a dismal run that saw it clock lows of $0.0041. Neah Power Systems Inc (OTCBB:NPWZ)’s prospects on the financial front have since improved on the acquisition of Shorai, which is expected to bolster the combined company revenues going forward.