CORAL SPRINGS, Florida, July 20, 2015 /PRNewswire/ --
Research is showing the global market for hydrogen fuel cells is expected to continue grow at an impressive pace according to Grand View Research, due to an increasing shift toward renewable energies. Portable applications dominated the market for the energy sources while being driven by military applications and other markets requiring energy on-the-go. High Tech companies in the fuel cell and portable energy sector are Neah Power Systems, Inc. (OTCBB: NPWZ), Ballard Power Systems (NASDAQ: BLDP), FuelCell Energy, Inc. (NASDAQ: FCEL), Energizer Holdings (NYSE: ENR) and Plug Power Inc. (NASDAQ: PLUG)
Neah Power Systems, Inc. (OTC: NPWZ) News - June 2015 Update to Shareholders - Continued Commercialization and Product Progress - 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 (firstname.lastname@example.org)
Read the entire NPWZ Press Release at http://financialnewsmedia.com/profiles/npwz.html
The Company provided updates as to:
- the Clear Path Teaming Agreement
- the Shorai Acquisition
- PowerChip® Fuel Cell Product Acceptance
- Formira HODTM (Hydrogen on Demand)
- BuzzBar Suite Gen 2 & Gen 3
Neah Power announced the successful completion of testing of three PowerChip® units with the Defense Research and Development Organization (DRDO) of the Government of India. These units were manufactured and shipped against a traditional open purchase order, and subsequently paid for. "We look forward to announcing more exciting news and milestones very soon! As we develop the numerous opportunities at hand, expand our business development efforts going forward, and secure the necessary capital to fully execute our plan, management will continue working hard to accomplish the mission. Our success is only achieved with the tireless work of our employees, the support of our shareholders, the diligent governance of our Board of Directors, and the expert guidance of our Strategic Advisory Board." Chris D'Couto, President & CEO
In other power/fuel cell news and happenings: Ballard Power Systems (NASDAQ: BLDP) recently announced that it has signed a definitive agreement to acquire Protonex Technology Corporation, a leading designer and manufacturer of advanced power management products and portable fuel cell solutions. As consideration for the transaction, valued at $30 million , Ballard is assuming and paying Protonex's debt obligations at closing, currently estimated at approximately $4.4 million , and paying the balance of approximately $25.6 million through the issuance of 11.2. Protonex Technology Corporation has deployed thousands of portable power solutions to the U.S. Army, U.S. Navy, U.S. Marine Corp, U.S. Air Force, U.S. Special Operations Command and U.S. National Guard, as well as to commercial and government-funded institutions, such as the Ocean Observatories Initiative. The only company to commercialize both PEM and SOFC fuel cell technologies, and with in-house research, design, test and manufacturing capabilities, Protonex has the unique capability and flexibility to go rapidly from concept, to design, to field testing, to deployment. Innovators in fuel cell design, and the inventors of the modern Intelligent Power Manager, Protonex continues to provide solutions to power problems for the military, scientific and commercial communities. For more information about Protonex power managers, chargers and fuel cells, please visit http://www.protonex.com.million Ballard shares.
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 recently significant progress towards achieving commercial deployment of its solid oxide fuel cell (SOFC) technology, naming three projects selected by the U.S. Department of Energy (DOE) for funding support. The projects are designed to demonstrate performance and commercial-readiness, further reduce both product and manufacturing costs, and validate hydrogen production utilizing the SOFC technology in an electrolysis configuration.
By jettisoning its consumer-products unit, Energizer Holdings (NYSE: ENR) should be able to focus on its core battery market, boosting margins and cutting costs. - Energizer's alkaline- and lithium-based batteries sell under the Energizer and Eveready brands. Energizer also makes headlamps, lanterns, and flashlights. Batteries represent 83% of revenue, and the lighting segment chips in the remainder. The company sells into 140 markets around the world, with about half of sales coming from North America. Read more at http://online.barrons.com/articles/recharging-the-energizer-bunny-1437195190
Plug Power Inc. (NASDAQ: PLUG), a leader in providing clean, reliable energy solutions, highlighted strong fuel cell and hydrogen infrastructure shipments and installations in the second quarter of 2015 allowing for a record revenue quarter. The company is on track to achieve its previously announced 2015 financial targets. Plug Power's flagship fuel cell product, GenDrive, displaces lead-acid batteries to power electric lift trucks. The company shipped 888 GenDrive units during the quarter to customers. This compares to 419 GenDrive units shipped in the first quarter of 2015 and 687 in the second quarter of 2014. Plug Power continues to lead the way in building new hydrogen storage and dispensing infrastructures. In the second quarter of 2015, the company built four new GenFuel sites and made construction progress on an additional four hydrogen fueling stations in North America intended for completion in the third quarter.
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