NPWZ NEAH Power Systems, Inc.

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Awesome news on NPWZ, Company Mergeing with EKO. This is going to really jump start the stock in the am. We could see some impressive gains on this one in the am also. Check out the news



NEAH and India's EKO Vehicles to Explore Merger and Acquisition Opportunities to Facilitate Global Growth

BOTHELL, WA, Aug 24, 2010 (MARKETWIRE via COMTEX) -- NEAH Power Systems, Inc. (OTCBB: NPWZ) www.neahpower.com, the company leading development in fuel cells for the military and portable electronic devices, announced today it has signed a letter of intent to explore acquisition or merger plans with EKO Vehicles of Bangalore, Private Limited, India (http://www.ekovehicle.com/), India's leading technology producer of two-wheeled electric vehicles. This combined venture is expected to provide additional opportunities for the expansion of product lines and global growth. Both companies are undertaking due diligence efforts in order to determine the viability and the structure of the combination.

NEAH had previously announced a customer relationship with EKO to build fuel cells for EKO's electric scooter product line. The third generation of EKO product is currently being sold in Asia and will shortly be available in the United States and Europe. "We intend to take the synergistic relationship between Neah and EKO to new levels. In addition to the fuel cells for electric two wheelers, we see high demand for Neah's fuel cells for a variety of military and industrial applications in India and Asia, and this relationship could enable us to meet this demand. Our micro fuel cells may eventually replace batteries for most uses," said Dr. Chris D'Couto, President and CEO of Neah Power.

"We welcome NEAH's technology and we share the common goal of reducing the levels of air and noise pollution, provide cost effective power solutions for two wheeler and four wheeler applications, and enable global growth for our products," said Mr. Anil Ananthakrishna, Chairman and Chief Executive Officer of EKOVEHICLES Pvt. Ltd.

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30-Aug-2011

Other Events, Financial Statements and Exhibits



Item 8.01 Other Events
On August 25, 2011, Neah Power Systems, Inc. issued a press release containing a letter to shareholders regarding the Company's activities to date in 2011.

The press release is attached as Exhibit 99.1.





Item 9.01 Financial Statements and Exhibits
(a) Not applicable.

(b) Not applicable.

(c) Not applicable.

(d) Exhibits.

Exhibit No. Description

99.1 Press release of Neah Power Systems, Inc., dated August 25, 2011.

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2-Sep-2011

Change in Directors or Principal Officers, Financial Statements and Exhi



Item 5.02 Departure of Directors and Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Board of Directors Cash Compensation Plan

On August 23, 2009, the Board of Directors (the "Board") of the Registrant, Neah Power Systems, Inc. (the "Company"), approved a Cash Compensation Plan (the "Plan") for the directors of the Board to be administered by the Compensation Committee of the Board. The Plan is effective as of August 23, 2011 and covers current members of the Board. Cash compensation will accrue effective from the date that the director joined the Board, but no earlier than June 1, 2009 and, with the exception of retainer compensation, will be pro-rated based on attendance at Board and Board Committee meetings. The effectiveness of the Plan and the payment of compensation is conditional upon the Company receiving cash in the amount of at least $1,500,000 either by direct outside investment into the Company or from sales or licensing revenues received by the Company.

The cash compensation plan for participation on the Board is described in the schedule attached hereto as Exhibit 10.1 and is incorporated by reference into this Current Report on Form 8-K.

Director, Officer, and Employee Sales Incentive Plan

On August 25, 2011, the Board also approved a Director, Officer, and Employee Sales Incentive Plan (Sales Incentive Plan) in order to provide incentives to generate revenues, recognize efforts during difficult financial circumstances, and encourage retention of Company officers and staff members. The compensation under the Sales Incentive Plan will be based on product sales, licensing, customer engagements or grants up to a maximum of $50,000,000 generated by the Company during the period August 25, 2011 through August 24, 2014. The compensation will be earned ratably on those sales and will be payable upon the accounting recognition and receipt of cash for qualifying sales (the "Receipts"). The compensation under the Sales Incentive Plan will be in both cash and options to purchase the Company's stock.

Total cash compensation for all participants will be no more than 15% of the Receipts. The cash compensation for individual participants shall be calculated by multiplying the Receipts by the percentage assigned to each participant according to Table 1 of the Sales Incentive Plan.

The total number of options available under the Sales Incentive Plan shall be calculated by multiplying the maximum qualifying sales value ($20,000,000) by 15% and then dividing the result by $0.01 (the "Floor Price"). As of the Effective date of the Sales Incentive Plan, options will be issued to the participants named specifically in Table 1 according to the percentage assigned to each participant and with an exercise price equal to the Floor Price. Options to any additional director and officer participants and individual employees will be issued upon approval of the awards by the Board of Directors and will have an exercise price equal to the closing market price of the Company's Common Stock on the date of such approval or the Floor Price, whichever is greater. The awards will vest upon Receipts. The vesting of option awards issued in an aggregate amount over 150 million will also be conditional upon an increase to the number of authorized shares of the Company's Common Stock in a quantity large enough to accommodate the additional options. In addition, the vesting of options, in total, for the Sales Incentive Plan will be limited at any given time to no more than 35% of the number of fully diluted shares of Common Stock of the Company at that time. Any limitations to vesting under the Sales Incentive Plan will be applied proportionately to the individual Sales Incentive Plan participants.

The terms of the Sales Incentive Plan described here are only a summary of this document and is qualified in its entirety by reference to the Sales Incentive Plan which is attached hereto as Exhibit 10.2 and is incorporated by reference into this Current Report on Form 8-K.

The Compensation Plan for the Board of Directors and the Director, Officer, and Employee Sales Incentive Plan are administered by and interpreted by the Compensation Committee of the Board, who retains the right to make modifications to the plan and guidelines.



--------------------------------------------------------------------------------





Item 9.01 Financial Statements and Exhibits
(a) Not applicable.

(b) Not applicable.

(c) Not applicable.

(d) Exhibits.


Exhibit No. Description

10.1 Schedule Cash Compensation Plan for the Directors of the Board
10.2 Director, Officer, and Employee Sales Incentive Plan

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67 WALL STREET, New York - October 3, 2011 - The Wall Street Transcript has just published its Industrial Equipment Report offering a timely review of the sector to serious investors and industry executives. This special feature contains expert industry commentary through in-depth interviews with public company CEOs, Equity Analysts and Money Managers. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.

Topics covered: Performance Correlation with Macroeconomic Data - Uneven Growth Across End Markets - Industrial Restructuring - Commercial Aviation and Energy Expenditures

Companies include: ABB (ABB); Airbus (EAD.PA); American Airlines (AMR); Anixter (AXE); Berkshire (BRK-A); Boeing (BA); and many more.

In the following brief excerpt from the Industrial Equipment Report, expert analysts discuss the outlook for the sector and for investors.

Chris D'Couto is the President and Chief Executive Officer at Neah Power Systems, Inc. He heads all of Neah's operations, including engineering, marketing and business development. Mr. D'Couto has had roles of increasing responsibility in technology development, sales and marketing in the semiconductor industry. He brings more than 15 years in thin-films processing, semiconductor technology expertise and a proven track record in sales and marketing at FormFactor, Inc.; Novellus Systems, Inc.; and Intel Corporation. He has a bachelor's of technology with honors in chemical engineering from the Coimbatore Institute of Technology in India, a Ph.D. in chemical engineering from Clarkson University, New York, and an MBA from the Haas School of Business at the University of California, Berkeley.

TWST: Would you please start by giving us a history and an overview of Neah Power Systems?

Mr. D'Couto: Neah was founded in Seattle by two students from the University of Washington. They conceived the idea of taking traditional computer-chip manufacturing technology and applying it to a fuel cell. A fuel cell is effectively an instantly rechargeable battery. A fuel cell can be used to replace batteries for a variety of applications, while doing it at a lower weight and/or providing longer duration. You can also look at fuel cells as instantly rechargeable batteries in that when the fuel is spent and the cartridge replaced, the fuel cell is instantly recharged, unlike batteries that have extended recharge time. The incumbent fuel cell technology had been around for 30 years, but it had serious issues with performance, cost and manufacturability. The solution envisioned by the founders has been developed by the scientists at Neah into a what we believe will be a market-disrupting solution in the fuel cell market as well as provide value-added alternatives to battery power. Initial investment into the company was provided by Intel Corporation, Novellus Systems and four Tier-I venture capital firms. Since its inception, the company has received roughly $38 million in investment toward the development of this technology. With the latest results from our prototype testing, we are now seeing the results of that investment. The company is now publicly traded on the over-the-counter bulletin board under the ticker symbol NPWZ.

TWST: What are the major products that you're developing and how are they different from what's currently on the market?

Mr. D'Couto: Fuel cells on the market today use what is called PEM, proton exchange membrane, technology. In comparison, our fuel cell, using our proprietary technology, supplies about 2.5 times more power per unit area at what we believe will be about one-quarter of the cost. A key differentiator in our fuel cell is the ability to operate in both nonaerobic, non-air and aerobic environments. Our fuel cells are capable of being built using lower cost, readily available computer-chip manufacturing capacity. We are currently working with a large U.S. defense supplier to provide specifications for a 25-watt system for use by soldiers in the field. Prospective customers that we are developing include Hobie Cat and a leading electric scooter company in India for whom we are developing hybrid battery/fuel cell solutions. We have also received interest from a large defense entity in India. We have demonstrated the technology to all of these parties. We are looking at potentially licensing the technology to companies with computer-chip manufacturing capabilities. We will continue to explore other business opportunities as appropriate.

TWST: Would you tell us about the technology?

Mr. D'Couto: Our proprietary technology has been developed in-house, and we have protection of our intellectual property through a number of U.S. and foreign patents and pending patent applications. The concept was to take very traditional proven computer-chip manufacturing technology and apply it to the fuel cell space. That's what we have done. Compared to the incumbent PEM technology, we get 2.5 times more power per unit area, at a significantly lower cost, and we can operate with and without air and use existing computer-chip manufacturing facilities to manufacture the product.

TWST: Previously, you've announced that Neah's products will be commercially available in 2012. Is that still your plan, and what is your commercialization strategy?

Mr. D'Couto: We are continuing to work toward that goal. Our primary focus is to finalize and enter into definitive agreements with prospective customers with whom we have been negotiating, and then deliver systems to meet those specifications. We believe we are on track. Our commercialization strategy is really twofold. First, we perform limited assembly here in Bothell, Wash., using outsourced manufactured components. Secondly, we intend to license our technology to qualified customers. A key advantage for those customers with existing computer-chip manufacturing facilities is the ability to manufacture the fuel cells themselves.

The Wall Street

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BOTHELL, WA--(Marketwire -10/06/11)- Neah Power Systems, Inc., (OTC.BB: NPWZ.OB - News) comments on the recent interest being generated by its fuel cells.

Dr. Chris D'Couto, CEO, stated, "We have recently made several announcements regarding the interest our silicon based fuel cell has received from various companies who are discussing areas of collaboration with us, such as The Boeing Company. I feel it important to discuss several reasons we believe for this interest in our technology. First, the all-liquid fuel and oxidant system that we continue to build upon has opened up a growing catalog of applications that were previously considered unsuitable for fuel cells. Unlike other fuel cell systems that require a clean, controlled and abundant air supply, our fuel cell is a closed system and can operate in non-air environments. Independent of the existence and quality of outside supplies of air, our fuel cell is capable of operating in diverse environments such as underwater, in burning buildings and in deserts or rain forests. Second, our fuel cell has a greater power capacity for its size compared to other competing fuel cells. Third, our fuel cells are capable of being manufactured using existing silicon manufacturing facilities, representing potentially significant cost savings over manufacturing for existing fuel cell technology. We believe that these factors, among others, allow us to offer differentiated and competitive products to the Boeing Company and also to the large US defense supplier we previously announced as well as other customers where these advantages would apply."

About Neah Power
Neah Power Systems, Inc. is developing long-lasting, efficient and safe power solutions for the military, transportation, and for portable electronics applications. We use a unique, patented, award winning, silicon-based design for our Powerchip™ micro fuel cells that enable higher power densities, lower cost and compact form-factors, and that can run in aerobic and anaerobic modes.

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BOTHELL, WA--(Marketwire -10/03/11)- Neah Power Systems, Inc. (OTC.BB: NPWZ.OB - News) announced today that the Boeing Company is exploring areas of collaboration to deploy our patented, award-winning PowerChip™ technology to various distributed power sources on Boeing's current and future airplane and ground systems.

The current trend in the aircraft industry is the "More Electric Aircraft" (MEA), which focuses on replacing mechanical and hydraulic systems with electrical systems to accommodate ever increasing power requirements. In a letter to our company, a representative of Boeing Commercial Airplanes states, "One of the key technologies that Boeing is evaluating for future airplanes are fuel cell systems used for the generation of airplane electrical power. We believe that Neah's technology will help Boeing achieve the objective of greener airplanes in the future. The development of a fuel cell system meeting Boeing's requirements is a crucial step toward proving the potential for successful deployment of this technology. Boeing would work with Neah on the prototypes for internal validation, developing and engineering the air-worthiness of the system, various certifications needed, and system integration with airplane and ground applications."

Our PowerChip™ power stack systems provide higher energy densities and lower weight than current comparable fuel cells. This could translate into substantial fuel and cost savings. With successful implementation, this could give Boeing Commercial Airplanes a competitive edge in the MEA market place.

Dr. Chris D'Couto, CEO, Neah Power Systems, said "Our fuel cells offer clean and efficient energy generation and we are delighted to work with Boeing, a market leader, in implementing cutting edge solutions into their designs for airplane and ground applications."

About Neah Power
Neah Power Systems, Inc. is developing long-lasting, efficient and safe power solutions for the military, transportation, and for portable electronics applications. We use a unique, patented, award-winning, silicon-based design for our PowerChip™ micro fuel cells that enable higher power densities, lower cost and compact form-factors, and that can run in aerobic and anaerobic modes.

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BOTHELL, WA--(Marketwire -10/11/11)- NEAH Power Systems, Inc., (OTC.BB: NPWZ.OB - News) announced it has been issued another patent from the U. S. Patent and Trademark Office. The patent, titled "Liquid-liquid fuel cell systems having flow-through anodes and flow-by cathodes" (USPTO #7,968,248), further solidifies Neah's presence and leadership in alternative energy. With this patent issuance, Neah has a total of twelve issued patents in the U.S. This patent relates to the unique anaerobic (non air-breathing) capability of the Neah fuel cell. This patent further covers Neah's proprietary architecture whereby a liquid fuel and a liquid oxidant run the fuel cell independent of the environment of operation.

Neah Power CEO, Dr. Chris D'Couto, stated, "This additional patent further solidifies our IP portfolio and demonstrates the underlying validity of our proprietary technology. We believe that our novel fuel cell technology enables us to offer differentiated and competitive products for a variety of possible applications that were previously considered unsuitable for fuel cells. We believe this is why companies like The Boeing Company, the large US defense supplier we previously announced, and other parties are showing interest in our products."

More information about this patent, as well as our patent portfolio, can be downloaded directly from the USPTO website, located at http://patft.uspto.gov/

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BOTHELL, WA--(Marketwire -10/19/11)- Neah Power Systems Inc. (OTC.BB: NPWZ.OB - News) announces that it has added a strategic component to its business model by offering licenses to potential customers to manufacture Neah's patented, award winning PowerChip™ technology. Traditionally, Neah Power has focused on an outsourced manufacturing business model. The shift to emphasize a licensing strategy is intended to further leverage existing third-party manufacturing capacity in the semiconductor industry.

Dr. Chris D'Couto, CEO Neah Power Systems, said, "The ability to use existing, low cost, third-party factories to manufacture our PowerChip™ technology is a key differentiator between our fuel cells and incumbent Proton Exchange Membrane (PEM) products. Our licensing strategy is a powerful competitive tool particularly for customers who have access to their own computer chip manufacturing capacity. Because our products can be manufactured with existing equipment used in the semiconductor industry, licensing allows potential customers to leverage current manufacturing facilities without significant capital outlays for new equipment. We believe this manufacturing capacity, along with the longer fuel cell life, higher power density (power per unit area) and anaerobic (non-air) functionality of our PowerChip™ technology provides us with competitive advantages over PEM-based fuel cells."

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BOTHELL, WA--(Marketwire -10/26/11)- NEAH Power Systems, Inc. (OTC.BB: NPWZ.OB - News) announced today it has appointed Col. Lamont Woody, US Army (Retired), most recently a principal of the Laconia Group, as its defense advisor to its Board of Directors. In this role, Col. Woody will advise the company in international defense and government relations and various potential collaboration, partnership and business development opportunities.

Col. Woody is a retired Army colonel who has an undergraduate degree in electronics engineering, and holds masters degrees from the Naval War College, the Army Command and General Officer Staff College, and Southwestern Oklahoma State University. Col. Woody developed multiple collaboration efforts which integrated Joint and inter-agency capabilities, opportunities, and challenges, established a joint common intelligence picture for IED (Improvised Explosive Device) targeting, electronic triggering and warfare, ISR (Intelligence, Surveillance, and Reconnaissance), weapons technical intelligence, UAV (Unmanned Aerial Vehicles), and EOD (Explosive Ordnance Disposal) robots. Col. Woody also implemented human terrain, social networking systems, and law enforcement systems and programs. Through these integration efforts, the Army achieved soldier access to near real time intelligence to detect, identify, attack, and disable insurgent networks employing IEDs. Col. Woody also directed a Joint Capability Assessment of Service IED defeat efforts, organized and executed outreach conferences for National Laboratories and Industry.

"We are honored to work with Col. Woody as we make a concerted effort to showcase our technology and solutions to potential defense customers, and further develop previously announced customer relationships. We believe that Col. Woody's practical experience in the military, as well as his relationships within the defense industry, will allow us to identify and target potential defense and national and international security customers who can benefit from our technology," said Dr. Chris D'Couto, President and CEO of Neah Power Systems.

Col. Woody said, "I look forward to working with Neah Power Systems to introduce Neah's award-winning power solutions to prospective defense and security customers. Portable power is becoming a critical component of our national security efforts. I believe that Neah's unique and differentiated products can address this critical need and I am excited to be part of the team that is deploying this solution."