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News today, before market: Office of Naval Research Finalizes 2006 Appropriation of $1.4 Million to Neah Power Systems
Neah Power Systems, Inc., a leading developer of fuel cells for military applications, notebook computers and portable electronic devices, announced it has received a contract award from the Office of Naval Research entitled "Design of High Power Density Direct Methanol Fuel Cell Stack Utilizing Porous Silicon Electrodes" in the amount of approximately $1.4 million. Based on the 2006 Department of Defense budget appropriation, the contract has a 12-month period of performance and revenue will be collected based on cost reimbursements.
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NEWS OUT...Watch closely for break out. Volume is incredibly high.
NEAH to Develop Fuel Cell Charger for India's EKO Vehicles 19 minutes ago - Globenewswire
NPWS 0.17 8.28%
As of 1:48 PM ET 6/30/09 NEAH Power Systems, Inc., (OTCBB:NPWS) www.neahpower.com, the company leading development in fuel cells for the military and portable electronic devices, announced today it has signed a Memorandum of Understanding (MOU) with EKO Vehicles of Bangalore, India, (http://www.ekovehicle.com/), India's number one producer of two-wheeled electric vehicles, to explore joint development of an on-board methanol fuel cell battery charger for their line of battery-powered electric scooters based on NEAH's novel anaerobic direct methanol fuel cell prototype. NEAH, which successfully demonstrated a new type of low cost, high reliability and power, liquid electrolyte based direct methanol fuel cell that does not require air to operate, will adapt its technology for EKO's new line of EV 60 electric scooters. This second generation product is already being sold in the United States, Europe, and Asia. A video of the technology, markets that Neah serves and demonstration of the technology can be seen on YouTube, as well as on the company's website. "This is a great opportunity to help reduce pollution in one of the earth's most populated areas, as NEAH fuel cells operate in both aerobic and anaerobic manner," Dr. Christopher D'Couto, NEAH's CEO, said. "Our micro fuel cells may eventually replace batteries for most uses." "We welcome NEAH's technology as a valuable aspect of our goal to help eliminate the levels of air and noise pollution, which can be contained by the introduction and use of electric and hybrid-powered vehicles for short distance transportation in our cities, towns and villages," said Mr. Anil Ananthakrishna, Chairman and Chief Executive Officer of EKOVEHICLES Pvt. Ltd.
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Wow..took a big tumble. Down to .138/share from the .1794/share high. Hopefully it'll come back during the End of Day trading frenzy.
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Sheesh, thanks for nothing NPWS. Oh well, I guess it had to give back some gains from its ride in the last few days. Could be a good one to radar. The news story is outstanding, but I think it has too much volume for its own good. Maybe short-term sellers have left, and it can have enough breathing room to move in the morning. Keep watch, and please do your own research.
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