Electric Car Company Inc. is a vehicle conversion company that specializes in electric conversions and manufacturing for the livery, fleet and private specialty markets. It announced today that the company has executed a letter of intent with Neah Power Systems Inc. to negotiate a development and exclusive marketing agreement. Neah Power Systems is developing long-lasting, efficient and safe power solutions.
The company plans to engineer Neah’s unique fuel cells into its lower-cost “Pure Electric” vehicles. By combining the battery and fuel cell technologies, the typical travel range of the vehicle will increase from 50 miles to as much as 250 miles on a single charge at what both companies believe will be a very affordable cost to consumers.
Neah’s award-winning, patented, silicon-based Direct Methanol Fuel Cell technology utilizes porpous silicon and proven semiconductor manufacturing technology. This proprietary design provides greater than a 2.5 times increase in power density as compared to the incumbent proton exchange membrane, can operate with or without air, resulting in a more efficient, cost-effective fuel cell.
The news of this agreement led to a positive reaction in Neah Power Systems’ stock today. It is currently trading at $0.05, up $0.012 or 31.58%. Volume is a solid 350,000 shares traded. For further information on Neah Power Systems, please visit its website at www.neahpower.com.
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