Expansion in the Power, Battery & Fuel Cell Markets For Defense, Mobile Electronics and Transportation Sectors Set for Strong Growth Potential Through 2020

01 Dec, 2015, 08:30 ET from FN Media Group LLC

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").

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