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Neah Power Systems, IncNPWZ
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Forward Looking Statements
Except for statements of historical fact, the matters discussed in this presentation are forward looking and made pursuant to the
Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect numerous
assumptions and involve a variety of risks and uncertainties, many of which are beyond the company's control that may cause actual
results to differ materially from stated expectations. These risk factors include, among others, limited operating history, research and prototype delays, difficulties in developing and
commercializing new technologies, and additional risk factors asdiscussed in the reports filed by the company with the Securities
and Exchange Commission, which are available on its website at http://www.sec.gov.
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Provide the most competitive portable power solution by leveraging our differentiated product, manufacturing
model and business model.
Illustrative Example
Neah Power Mission Statement
Fuel cells vs. batteries
� What are fuel cells
• Direct conversion of fuel into electricity
• Electrochemical catalyzed reactions
� Fuel + oxidant electricity
• Fuel once consumed, needs to be replaced
� What are batteries
• Two types – primary and secondary
• Primary – single use then discard
• Secondary – rechargeable
� Recharging – electric current to convert spent chemicals
Battery Technology Challenges
� Demand for longer runtime
� Lithium-ion batteries
• Heavy
• Safety concerns
• Inefficient performance
� Power gap, demand vs. available energy
• Power hungry features
• Increased use in mobile environments
• Limited battery technology
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Reduces Weight 70% on 72-Hour Mission
Fuel Cell for a72-hour Mission
•1 fuel cell
•9 fuel cartridges
Total weight
= 8 lbs
BA-5590 72-hour Mission
• 12 BA-5590 military standard batteries
Total weight
= 27 lbs
Shedding The Pounds
Fuel Cell Technology Benefits
� Benefits of methanol
� Converting fuel into electricity
� Mobile life via fuel replenishment
� Access to power “Off-the-Grid”
� Benefits over battery technology
� Clean, renewable & environmentally safe
Direct Methanol Fuel Cell (DMFC) Challenges
� Proton Exchange Membrane (PEM) Technology
� Operating issues
� Water management
� Reliability
� Low power density and efficiency
� Manufacturability and commercialization
NEAH Fuel Cell Technology Solution
� Silicon-based, DMFC
• Porous silicon electrode structure
• Circulating liquid streams of fuels
� Stable, long-lasting materials
� Increased power density
� Leverage silicon manufacturing infrastructure
� Easily customizable Lego design
� Healthy GM – fuel cell, recurring revenue from cartridges
1010
Innovation Well Recognized
Red HerringTop 100 Innovators
Dec. 2004
NIST/ATP $2M AwardSept. 2003
“Startup of the Year”Seattle Alliance of
AngelsMay 2004
Leroy OhlsenTop 100 Young
InnovatorsSept. 2004
Venture All-StarsTop 25 Company
June 2005
ONR AwardJuly 2007 & Sept 2008
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Technology & Strategic Advisory Boards
Technology Advisory Board� John Drewery, Ph.D., Former EVP Neah Power, Novellus Systems
• Technology Director at Novellus Systems� Steve Meyer, Ph.D., Novellus Systems
• Director and Principal Engineer, Novellus� Wilbert Van Den Hoek, Ph.D., Novellus Systems
• Former CTO Novellus
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Strategic Advisory Board� Reza Abhari Ph.D.
• Professor, Entrepreneur, Alternative energy expert� Joseph R. Bronson
• CEO - SVTC, Member BOD - Sanmina-SCI Corp� Carol Mutter M.S., M.A., Ph.D. (Hon)
• Ret Lt Gen USMC; R&D, Systems Integration, Logistics and Procurement
� James Mutter, MBA • Ret Col USMC; Field T&E, Systems Integration and C3 Ops
Experienced Management & Directors
� Chris D’Couto, Ph.D., MBA – President & CEO
� Steve Wilson, CPA, CMA - CFO
� Tsali Cross, Ph.D. – VP of Engineering
� Kenth B Pedersen – Chief Business Development Officer
� Chris D’Couto Ph.D., MBA – CEO Neah Power Systems
� Jon Garfield – CEO Clearant, Inc, VP, Acquisitions, Coach Inc.
� Ed Cabrera, MBA – Executive Managing Director Jesup & Lamont
� Paul Sidlo – Founder and CEO, REZN8
Board Of Directors
Management Team
Neah Power Systems - Overview
� Differentiated & competitive solution for portable power
� Disruptive and unique fuel cell technology
� Successful prototype positioned for commercialization
� Office of Naval Research (ONR) funds major development
� Large addressable markets
• Defense
• Homeland Security
• Industrial users
• Consumer Products
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PEM DMFC vs. Neah DMFC
Electrolyte(PEM)
Catalyst
Fuel
Air
Fuel & Electrolyte
Oxidant & Electrolyte
Technology Proton Exchange Membrane FC Porous Silicon FC
Power Density 60 – 80 mW/cm2 200 mW/cm2
Challenges Air breathing, drying, flooding Balance of Plant
Operating Environment Air only Air and No – air
Manufacturability Custom infrastructure Si and EMS outsourcing
IP & Patents Diffuse, overlapping Clear, unique*
* - 11 US, 12 non-US, 6 pending US
Industry leading power density
High Surface Area ~ High Power density
Targeted Markets
� Portable Power (< 1kW)
• Consumer, military, industrial applications
� Semi – portable and stationary power (>1kW)
• Unmanned underwater vehicles, standby/backup power
• Automotive applications
� Power storage/load leveling for renewable energy
• Renewable power storage / leveling
• Wind
100W
1W
Fuel Cell MarketsP
ow
er
Power System Volume
10kW
10MW
0.1L 1L 10L 100L
Portable ~$9B
Transportation ~ $20B
Stationary~ $2B
Market sizeProjected for 2010Source: Frost & Sullivan
Primary market
Secondary market
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Large Addressable Markets
Military First Responders Consumers
Mobile LifeIndustrial / Distributed
Projected units - 2010
Source: Frost & Sullivan
23.6 Million 22.0 Million 79.6 Million
Recent Achievements & Milestones
� Issued Manufacturing Technology White Paper (August 5, 2009)� Issued Energy Storage White Paper (August 4, 2009)� Received $10 million funding commitment from Optimus Energy
Capital Partners (July 30, 2009)� Completed acquisition of SolCool One, LLC (July 28, 2009)� Podder Family makes large investment in company (July 22, 2009)� Named Emmy-award winning, creative director Paul Sidlo to Board of
Directors (July 19, 2009)� Presented fuel cell prototype at 11th Electrochemical Power Sources
R&D Symposium (July 13, 2009)� Demonstrated first hybrid electrolyte aerobic direct methanol fuel
cell (July 8, 2009)� Signed LOI with EKO Vehicles awarding Neah Power master
distribution rights to EKO Vehicles’ battery and fuel cell electric scooters in the United States (June 30, 2009)
Recent Achievements & Milestones
� Signed LOI with EKO Vehicles to supply all batteries and fuel cells used in EKO Vehicles electric scooters sold in the United States (June 30, 2009)
� Signed LOI with EKO Vehicles to develop and supply direct methanol fuel cell battery chargers for all battery fuel cell hybrid electric scooters sold in India and the United States (June 30, 2009)
� Signed LOI with EKO Vehicles to develop and supply direct methanol fuel cell battery chargers for EKO Vehicles’ distributed renewable energy stations (June 30, 2009)
� Demonstrated anaerobic direct methanol fuel cell prototype
(June 25, 2009)
� Signed LOI with Hobie Cat to supply direct methanol fuel cell battery chargers for Hobie’s battery electric line of recreational water vehicles (June 17, 2009)
� Named Jesup & Lamont executive, Ed Cabrera to Board of Directors
(June 17, 2009)
� Signed a technology license agreement with Hobie Cat Company (April 21, 2009)
Key Advancements for Initial Production
� Larger electrodes- increase power output by 2.5X
� Injection molded packaging -
higher reliability and more compact cells
� Wire-bond interconnects –Reduces losses
� Miniaturized pumps-size reduction
� Simplified electronics- increase reliability
� Compact thermal management solution - size reduction
30x30 mm2 electrodes
Wire-bond interconnects & PVDF packaging
43x43 mm2 electrodes
Neah Power DMFC Manufacturing Model
Cell / Stack Assembly
(Aspen Technologies)
OEM
Si Substrate Production
(IceMOS)
Si Electrode Production
(Neah)
Assembly & Test
(Sanmina-SCI)
Neah Power works with the whole supply chain to ensure quality, cost and timeliness
Combined in 6 – 9 mos
Strategic Relationships & Affiliation
� Intel Capital
• Laptop & consumer markets
• Supplier connections
� Novellus Systems Inc.
• Semiconductor processing and
equipment
• Technical expertise for Silicon
processing
� American Electronics Assoc.
• Govt. agencies & procurement
• Foreign markets
• Business network
� Sanmina-SCI, Inc.
• Electronics design
• Thermal components
• System integration
• Device packaging
� Aspen Technologies
• Wire-bond
• Cell and stack assembly
� IceMOS Technology
• Si Foundry Partner
• Si electrodes
General Dynamics’ EDGE™ Partnership
A world-class, collaborative innovation & technology center dedicated
to accelerating & integrating technology for the war fighter.
The following companies are EDGE™ Members:
The companies referenced on this slideare members of The EDGE™. They arenot affiliated with Neah Power. Their reference here is not an endorsement
of Neah Power.
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Neah Power: The Opportunity
� Experienced management team & board
� Strong Technical & Strategic Advisory Board
� Huge, untapped markets
� Healthy business model
� Unique and disruptive proven technology
� Low burn rate structure
� Early engagements with product integrators