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 that in anticipation of its growth, it has increased the size of the option pool for key current and future employees of the company. This long term plan is exclusively for employees, directors and officers of the company.
Referring to the recently filed S-8, Dr. Chris D'Couto, President and CEO of Neah Power Systems said, "As we enter this next phase of growth, the Board and Management of the company intends to recruit, retain, and develop, key talent within the company by making them part owners of the company, and we believe this is in our shareholders interest. These incentives will be awarded to key employees and new hires over the following months, and the shares will vest over a one – year period. A partial list of goals for the company for the next year includes shipments and revenue for the solar air-conditioning systems, deployment of our remote area power supplies (RAPS), shipment and revenue from our fuel cells to key customers, and continuous improvements to our technology to maintain the leading edge of performance."
About NEAH Power
NEAH Power Systems, Inc. (NPWZ.OB) is developing long-lasting, efficient and safe power solutions for the military and for portable electronic devices. NEAH uses a unique, patented, silicon-based design for its micro fuel cells that enable higher power densities, lower cost and compact form-factors. The company's micro fuel cell system can run in aerobic and anaerobic modes. Neah believes that the technology can also be used for energy storage and generation.
Further company information can be found at www.neahpower.com.
Forward-Looking Statements
Certain of the statements contained herein may be, within the meaning of the federal securities laws, "forward-looking statements," which are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. See Neah Power System's Form 10-KSB for the fiscal year ended September 30, 2009 for a discussion of such risks, uncertainties and other factors. These forward-looking statements are based on management's expectations as of the date hereof, and the company does not undertake any responsibility to update any of these statements in the future.
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