$NPWZ News - Neah Power Systems, Inc.: June 2015 Update to Shareholders - Continued Commercialization and Product Progress

BOTHELL, Wash., - (http://www.financialnewsmedia.com News Alert) - Neah Power Systems, Inc. (OTCBB: NPWZ) (OTC: NPWZ) - To Our Shareholders: As a supplement to our latest quarterly filing, and follow on to the previous letter to shareholders, I want to provide you with a brief report on the status of our Company operations as well as relate the progress achieved by our management in advancing efforts to commercialize, license and sell NEAH Power\'s industry leading technologies and products. Some of our other communication forums were not as effective, in our opinion, so we will communicate directly to you through monthly shareholder letters, as well as responding to valid queries directed to the Company (info@neahpower.com)



Status of the Clear Path Teaming Agreement

We recently reported a teaming agreement with Clear Path Technologies related to security and defense applications. We are pleased with the progress in deploying the Formira HOD technologies for a variety of applications in the MENA (Middle East North Africa) regions. We have submitted quotations for potential multi-million dollar opportunities.



We have assembled and continue to run five 100W reformer units to baseline and optimize performance. We are sharing the specifications with customers and partners under non-disclosure agreement. These five units are helping us scale up the systems to larger (1000+ W) units as well. As previously discussed, we are finalizing a date with Tectonica to demonstrate our product for certain defense applications in Australia.

We are working with Silent Falcon to integrate the fuel cell into their fixed wing drone.

We will keep you updated on these exciting developments.



Status of the Shorai Acquisition

We previously announced the signing of a definitive agreement to merge with Shorai, Inc., with a targeted completion date of July 15 2015. While we had all expected the transaction to be completed by now and be well into the integration of the two companies, both parties continue to support the business combination, as evidenced by the signing of multiple extensions in order to consummate the transaction, which requires a capitalization event. Neah has a several Term Sheets from funders and expects to complete a transaction as soon as practicable.