$NPWZ News - Letter to Shareholders Updating on Business and Technology Developments at Neah Power Systems

BOTHELL, Wash., - (http://www.financialnewsmedia.com News Alert) - Neah Power Systems, Inc. (OTCBB: NPWZ) (OTCQB: NPWZ) an emerging leader in fuel cell-based power generation and lithium ion-based storage solutions for the unmanned aerial vehicles (defense and commercial), military, transportation and portable electronics industries, provides the following letter to shareholder from Chris D\'Couto, President & CEO of Neah Power Systems:

To our shareholders:



We continue to be very enthused about our accomplishments, the opportunities ahead of us and the difference we can make in people\'s lives through our patented and disruptive technologies. These technologies have the potential to transform the fuel cell market, and the costs associated with electric power for a variety of industries from defense to automotive and even distributed power generation. We are continuing to seize new opportunities to increase shareholder value by growing revenue, while carefully managing expenses. For our fiscal Q1-2015 we generated revenue around the shipments to the DRDO (Government of India). We believe this was an important milestone and further validation of our technology. Overall, these are very exciting times for Neah, as we are now moving rapidly from a development stage company to full commercialization across our product lines. As such, I would like to draw your attention to some very exciting developments below including the recent Shorai acquisition, the Buzzbar Suite, the Formira Hydrogen on DemandTM (HOD) system and the PowerChip technology.



The Shorai acquisition



We announced the signing of a definitive agreement to merge with Shorai, Inc., in January 2015. Shorai is a leading provider of lithium ion-based power sports and starter battery solutions for the consumer motorsport industry. Neah Power has until February 28, 2015 to make the $1,000,000 cash payment and close the merger transaction. This merger is expected to be immediately accretive with Shorai reporting over $4.0 million (unaudited) revenue for the twelve months ended December 2014 and the company was cash flow positive for the fourth quarter of 2014. This allows us to realize product, marketing and operational synergies in the near future.



PowerChip Product



We recently announced the successful...