Bothell-based Neah Power Systems announced on Thursday that it will merge with California-based Shorai, Inc., which develops lithium ion batteries for consumer motorsports.
Neah Power Systems also specializes in batteries and fuel-cell power generation. In October, the company announced it would provide power solutions for unmanned aerial vehicles in the military, transportation, and consumer markets.
“Going forward, Shorai manufacturing, distribution, and marketing expertise will complement Neah’s patented fuel cell technologies, and together open a wide range of sales opportunities in the defense, commercial, and consumer markets. The match has very clear synergies which will foster products and profitability for both companies, far beyond what either could accomplish alone,” Shorai CEO David Radford said in a statement.
Neah Power’s CEO, Chris D’Couto, said the merger will allow the new company to create integrated power solutions that utilize the best of Shorai’s and Neah’s specialties.
“With the Formira Hydrogen on Demand and BuzzBar Suite products generating a lot of commercial and consumer interest, this merger allows us to create compelling total solutions,” D’Couto said in a statement.
The new organization will take Neah Power Systems’ name, and will be headquartered in Bothell.
In September, Neah Power Systems launched an Indigogo campaign to fund the BuzzBar Suite. The company reached only 11 percent of its goal, receiving $5,062 of the $45,000 goal. An update posted near the end of the campaign acknowledged the company probably wouldn’t reach it’s goal, but that it would press forward.
“We’ve only achieved 10% of our funding goal, but that won’t prevent us from continuing to develop the BuzzBar Suite. We’ve received over 1,000 likes on our facebook page in just a few weeks, proving that there is substantial interest in the BuzzBar Suite.”