CORAL SPRINGS, Florida, December 1, 2015 /PRNewswire/ --
Development of battery/power technologies & hydrogen fuel infrastructure continues to push forward as newest technology products fuel growth in the hydrogen industry expanding into various applications for numerous sectors. Tech companies focused on battery & fuel cell products with recent developments to report are Neah Power Systems, Inc. (OTCBB: NPWZ), FuelCell Energy, Inc. (NASDAQ: FCEL), Power Inc. (NASDAQ: PLUG), Ballard Power Systems Inc. (NASDAQ: BLDP) and Yingli Green Energy Holding Company Ltd. (NYSE: YGE)
Neah Power Systems, Inc. (OTCBB: NPWZ) (OTC: NPWZ) today issued the following letter to shareholders. Highlights include; Over the last six months, NEAH Power Systems has witnessed a tremendous response to our products and technologies. Recently, we have announced teaming agreements with several leading companies in the security/defense, robotics and mobile electronics industries. Additionally, we have expanded industry relationships with battery and fuel cell suppliers and manufacturers and have entered into discussions with multiple strategic partners regarding the license, sale and manufacture of NEAH Power's products. To help facilitate and manage this growth the Company, has also expanded with the addition of several key consultants and advisors bringing high value associations including potential co-development sponsors within the U.S. Government. All of this, together with other significant advancements, is expected to open the door to the use of our products in several rapidly expanding markets, including transportation/automotive, distributed energy/smart grid infrastructure and telecommunications, and result in significant revenue growth.
Read the full NPWZ Shareholder Press Release at http://www.financialnewsmedia.com/profiles/npwz.html
As to current capital-raising efforts, the company had previously entered into a senior secured loan agreement with a Connecticut based investment fund. The loan agreement provides for $6 million in debt financing with an initial draw down of $4.5 million at closing. For each drawdown, interest is accrued at LIBOR plus 4% with maximum interest rate of 6%. There is no repayment within the first three years. Additional details will be provided at the time of funding. While we have had significant delays, the Investor believes that this funding is expected to close sometime in 4Q 2015 based on latest guidance. Due diligence by the investor has gone well, and both parties have agreed to final documents, which will be executed at funding. We are receiving status updates on an almost daily basis. Continued... See link above for more...
In other power/energy application news and happenings: FuelCell Energy, Inc. (NASDAQ: FCEL), a global leader in the design, manufacture, operation and service of ultra‐clean, efficient and reliable fuel cell power plants, announced the commencement of the previously disclosed North American manufacturing facility expansion, and closing on an Assistance Agreement with the Connecticut Department of Economic and Community Development. A groundbreaking ceremony was held earlier today to highlight the expansion project, which will increase the size of the facility by approximately 102,000 square feet to approximately 167,000 square feet in total. The project will enhance and streamline logistics functions and manufacturing processes and prepare for subsequent manufacturing capacity expansion.
Power Inc. (NASDAQ: PLUG), a leader in providing clean, reliable energy solutions, announces European supermarket leader Colruyt Group as its next GenDrive fuel cell customer in Europe. Colruyt Group will use 200 GenDrive units in its Halle, Belgium, facility. The units will be rolled-out in two phases: 75 units in phase one and 125 in phase two.
Ballard Power Systems (NASDAQ: BLDP) recently announced that it has successfully closed a $5 million strategic equity investment in the Company by Nisshinbo Holdings Inc., an "Environmental and Energy Company" Group in Japan , as previously announced by Ballard on October 27, 2015 . The investment was made through a private placement subscription of 3,322,479 common shares issued from treasury at a price per share of $1.5049 (based on a 10-day volume weighted average price calculation).
Yingli Green Energy Holding Company Ltd. (NYSE: YGE), one of the world's leading solar panel manufacturers, announced that its wholly owned subsidiary, Yingli Green Energy Europe GmbH ("Yingli Europe") and R.Power Sp. z o.o. ("R.Power"), a leading Polish renewable energy project developer formerly known as AMB ENERGIA, have agreed to expand their joint project development pipeline in Poland from 30 to 60 megawatts ("MW").
FinancialNewsMedia.com is leading provider of third party publishing & news dissemination services. If you would like more information regarding our news coverage solutions, please visit http://www.financialnewsmedia.com for more details. Get an edge on the market with our Premium News Alerts that are FREE for a limited time at financialnewsmedia.com. Follow us on Facebook: facebook.com/financialnewsmedia and Twitter: twitter.com/FNMgroup.
DISCLAIMER: FN Media Group LLC (FNMG) is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNMG is NOT affiliated in any manner with any company mentioned herein. FNMG and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNMG's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNMG is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNMG has been compensated one thousand nine hundred dollars for news coverage of the current press release issued by Neah Power Systems, Inc. by the company. FNMG HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNMG undertakes no obligation to update such statements.
SOURCE FN Media Group LLC