Neah Power and Novellus Systems Renew Collaboration Agreement; CEO and President of Novellus Development Company To Serve As Chairman of Neah Power Systems Technology Advisory Board.SEATTLE -- Neah Power Systems, Inc., a Nevada corporation A Nevada Corporation is a corporation chartered under the laws of the U.S. state of Nevada. Nevada, like the state of Delaware (See Delaware corporation), is well known as a corporate haven. (Pink Sheets:NPWS NPWS National Parks and Wildlife Service (Australia) ), today announced it has renewed and extended the Collaboration Agreement with Novellus Systems Novellus Systems develops, manufactures, sells, and services semiconductor equipment used in the fabrication of integrated circuits. It is a leading supplier of chemical vapor deposition (CVD), physical vapor deposition (PVD), electrochemical deposition (ECD), chemical mechanical , Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :NVLS NVLS Novellus Systems (stock symbol) ). Neah is in the business of developing silicon-based fuel cell technology. Novellus is a provider of advanced deposition and surface preparation systems for the semiconductor industry. Neah and Novellus will collaborate to develop technology related to the application of catalyst and conductive films to porous silicon Porous Silicon (pSi) is a form of the chemical element silicon which has an introduced nanoporous holes in its microstructure, rendering a large surface to volume ratio in the order of 500m2/cm3. structures to be used as fuel cell electrodes. Neah's patented porous silicon direct methanol fuel cell Direct-methanol fuel cells or DMFCs are a subcategory of proton-exchange fuel cells where, the fuel, methanol (CH3OH), is not reformed, but fed directly to the fuel cell. , which Neah is still in the process of developing for commercial production, utilizes porous silicon, a substance that its engineers believe will sidestep side·step v. side·stepped, side·step·ping, side·steps v.intr. 1. To step aside: sidestepped to make way for the runner. 2. many challenges associated with Methanol Fuel This article is about Methanol used as a fuel. For other alcohols used as fuels, see Alcohol fuel. Methyl alcohol, wood spirits, and Methanol Methanol has been considered as a fuel, mainly in combination with gasoline. Cells that are based upon Proton Exchange Membrane A proton exchange membrane (PEM) is a semipermeable membrane generally made from ionomers and designed to conduct protons while being impermeable to gases such as oxygen or hydrogen. (PEM (Privacy Enhanced Mail) A standard for secure e-mail on the Internet. It supports encryption, digital signatures and digital certificates as well as both private and public key methods. Not widely used, work on PEM later evolved into S/MIME. See MIME. ) technology. Neah uses its 3 dimensional patented porous silicon to obtain greater power densities (40x's), greater reliability, scalability, and manufacturability. Pursuant to the agreement with Novellus, Dr. Wilbert Van der Hoek, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and President of Novellus Development Company and former Chief Technology Officer for Novellus, will serve as Chairman of the Neah Power Systems Technology Advisory Board. In addition, Dr. John Drewery, Director of Technology at Novellus will continue to serve as Executive Vice President for Neah and an additional Novellus project scientist will be assigned on a full time basis to Neah. John Drewery, Executive Vice President of Engineering at Neah Power Systems, works for Neah under the Collaboration Agreement with Novellus Systems Inc. (Nasdaq:NVLS), a leading manufacturer of semiconductor capital equipment and an investor in Neah. He is a Director of Technology at Novellus. Dr. Drewery specializes in leading rapid development of groundbreaking technologies and has 25 years of experience in the fields of solid-state physics solid-state physics, study of the properties of bulk matter rather than those of the individual particles that compose it. Solid-state physics is concerned with the properties exhibited by atoms and molecules because of their association and regular, periodic , metals deposition technology, and semiconductor processing. Before coming on board at Neah Power, Dr. Drewery was in charge of advanced metals processing development at Novellus. Before joining Novellus, he invented and developed ground-breaking metal deposition technologies at Tokyo Electron, Ltd. and at Varian Associates. From 1989 to 1995, Dr. Drewery was a Staff Scientist at Lawrence Berkeley National Laboratory Lawrence Berkeley National Laboratory and Lawrence Livermore National Laboratory, scientific research centers run by the Univ. of California, located in Berkeley, Calif., and Livermore, Calif., respectively. . Dr. Drewery received his Ph.D. in solid state physics from the University of Cambridge (Cavendish Physics Laboratory) in 1986. "We are excited about the progress Neah continues to make. Given the incredible market size in Military/Consumer portable energy devices and the policy and environmental benefits that will flow from converting readily transportable Methanol into electrical energy, we are thrilled to stand side-to-side with Neah as we introduce this new technology. We believe Neah's unique porous silicon fuel cell has the potential to be a true 'Disruptive Technology'. We look forward to sharing in their success, and to developing the tools necessary to support the manufacturing of the porous silicon for the Neah fuel cell," said Dr. John Drewery. "Novellus brings a wealth of knowledge and expertise that has and will enable Neah to accelerate the path of its progress. I am pleased with the excellent execution by the Novellus Systems engineering team during the past two years, and I am delighted that we will be able to build upon our past successes to meet our goal of completing the development of our porous silicon fuel cell prototype this year and the production to follow shortly thereafter," said Paul Abramowitz, CEO of Neah Power Systems. Please review the Company's 10SB filed on May 1, 2006 for further information concerning the renewal of the Novellus Collaboration Agreement and its specific financial terms, and conditions. About Novellus Novellus Systems, Inc. is a leading provider of advanced process equipment for the global semiconductor industry. The company's products deliver value to customers by providing innovative technology backed by trusted productivity. An S&P 500 company, Novellus is headquartered in San Jose, Calif. with subsidiary offices across the globe. For more information please visit http://www.novellus.com. About Neah Power Neah Power Systems is a micro fuel cell development company using a patented, silicon-based design to provide long-lasting, efficient and safe power solutions for portable electronic devices, including notebook PCs and other power-hungry computer, entertainment, and communications products. As an emerging leader in fuel cell technology and design, Neah Power Systems believes that its products will allow users to extend the operating time of their devices multiple times beyond that of conventional batteries. Key investors include Alta Partners, Frazier Technology Ventures, Castile Ventures, WestAM and Intel Capital. Neah Power Systems is headquartered just outside of Seattle in Bothell, Washington. Further company information can be found at our Website http://www.neahpower.com and in our Form 10-SB registration statement that was filed with the Securities and Exchange Commission earlier this month, but has not as yet been declared effective. Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such forward-looking statements involve known and unknown risks, uncertainties, and other unknown factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "belief," "expects," "intends," "anticipates," "will," or "plans" to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's reports and registration statements filed with the Securities and Exchange Commission. Investors are encouraged to review the Company's most recent filings with the SEC and specifically its Form 10SB filed on May 1, 2006. |
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