Neah Power Systems, a provider of fuel cell-based power solutions and rechargeable lithium battery storage solutions for defense, commercial, and consumer applications, announced that the Company has filed a patent to cover the unique elements of the battery technology. The battery to date has demonstrated industry leading performance, making it suitable for a range of applications from consumer products to grid scale storage. This battery patent, along with the rest of the Company Patent portfolio, is critical to the overall success of the Company, and in particular to the recently signed memorandum of understanding (MOU) with a large South Africa based entity.
Separately, the Company noted that it was submitting for U.S. Department of Energy funding with an internationally reputed national laboratory in the USA. The national laboratory, after extensive review of the technology under non-disclosure agreement with the Company, has agreed to pursue DOE funding with the Company. The grant submissions are due in mid-February 2016.