QualityStocks would like to highlight
Neah Power Systems, Inc. (
OTC: NPWZ), focused on the development of innovative, long-lasting, efficient and safe power solutions for military, transportation and portable electronics applications. The company applies its portfolio of patented technologies to maintain a competitive position in the fast-growing market for fuel cells and power generation devices.
In the company’s news:
From Asia to North America and beyond, countries such as China, Japan and the United States are increasing their investments toward the advancement of service robotics and contributing to the growth of a global market which, according to a new Grand View Research study, is estimated to reach $16 billion by 2020. Recognizing the opportunities in this arena, Bothell, Washington-based Neah Power Systems, an inventor and supplier of front-line power products for the military, transportation and portable electronics industries, is teaming up with Black-I Robotics, a leading company with robotic platforms and solutions used for defense, industrial and commercial applications. Working in unison, the two companies intend to deliver Neah Power’s power generation and energy storage technologies to the robotics market.
Independently, Neah Power offers patented and patent-pending technological solutions that are safe, effective and long-lasting. The company is involved in developing fuel cells, including its PowerChip and BuzzBar suite of products, as well as Formira, a hydrogen gas-generating reformer technology. It also provides power solutions via devices, such as military radios and notebook PCs, along with other types of communications and computer products.
Through their partnership agreement, which was revealed earlier this month, Neah Power and Black-I mean to reach even further and expand the markets for their products. Through a shared vision and the consolidation of their expertise, capabilities and resources, the new partners plan to create power systems that will achieve increases in levels of performance and enhanced deployment times. They also intend to deliver robotic solutions that better meet the needs of Black-I’s commercial, defense and industrial clients.
Under their agreement, the companies will act as a team on the product development and system integration of Neah Power’s patented formic acid reformer fuel cell (Formira HOD), PowerChip Fuel Cell and PowerChip Battery with Black-I’s advanced remote robotic vehicles. Also, Black-I will take on the role of engineering and sales consultant with Neah Power, and work with the company on developing power products that can be integrated and licensed for use by other companies building robots for commercial use (i.e. construction, defense, healthcare, logistics, and ground-based and underwater transport) along with builders of robots for entertainment and household applications.
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Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.
