$NPWZ News - Neah Power Systems Issues Letter To Shareholders - Ongoing commercialization and exciting developments at the Company

BOTHELL, Washington, - (http://www.financialnewsmedia.com News Alert) - Neah Power Systems, Inc. (OTCBB: NPWZ) (OTC: NPWZ) - today issued the following letter to shareholders - Dear Fellow Shareholders: We are enthused about the ongoing capitalization and commercialization activities at the Company and the opportunity to share these developments with you. For recent followers of the Company, we want to highlight our key products. We have the PowerChip(R) anaerobic (non-air) fuel cell, most recently accepted by the Defense Research and Development Organization (DRDO) of the Government of India. We also have the Formira Hydrogen on Demand (Formira HOD), the most energy dense solution for the generation of hydrogen from a safe liquid source. The BuzzBar Suite is an off-grid charging solution for consumer and commercial applications. We shipped our BuzzBar Gen2 product, and have a Gen3 design that will ship once we close the next round of financing. Finally, we have the PowerChip(R) Battery under development that has shown industry leading performance. All of our products and technologies are covered by 14 patents, 12 pending patent applications and various trade secrets and know how.



Capitalization: Our previously announced financing of $6M in debt financing, with a $4.75M drawdown at closing has been delayed but the investor updates us constantly. They have reported receiving funds from their investor now for the last eight weeks, and once various banking and fund set up fees have been paid, they have stated they will start funding NEAH. This investor has a very credible multi-year track record of investing in market disrupting emerging technology companies. The details of this investment were previously disclosed in the December 2015 letter to shareholders. The financing is critical to execute on the business plan of the Company. The Company is also evaluating other financing options.



Business update:



1.NEAH was invited to participate in the White House briefing on Feb 17. We have had various commercialization and capitalization discussions occur based on the networking at that event. As a direct result of attending the White House conference on Climate Change, we have been invited to attend three USTDA Reverse Trade Missions Focused on Energy Storage. The delegates are senior officials from South Africa, Jordon, Brazil,...