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February 12, 2008 BOTHELL, Wash.-Neah Power Systems, Inc. (OTCBB:NPWS),a leading developer of fuel cells for military applications and portable electronic devices, announced today that it has named Dr. Reza Abhari to its Strategic Advisory Board, which is responsible for advising Neah Power's management. Dr. Abhari is a professor of Energy Technologies at the Swiss Federal Institute of Technology Zurich (ETH) where he is committed to research and development of advanced energy conversion systems and technologies. Dr. Abhari has served as a consultant to notable companies such as Alstom Power, a global leader in power generation, Daimler (NYSE: DAI - News), General Electric (NYSE: GE - News), Honeywell (NYSE: HON - News), and Toshiba Corp. (TSE: 6502.T - News). Additionally, he has served as an advisor to several private equity and venture capital firms, providing business, strategic and technical advice in the support of Clean Tech investments. "Dr. Abhari has extensive experience in the aerospace, consumer product, energy conversion, scientific instrumentation, and semiconductor equipment sectors," said Dr. Chris D'Couto, President & CEO of Neah Power. "His academic interests, management expertise, and experience with start-up firms are valuable additions to Neah Power's Strategic Advisory Board. Dr. Abhari's knowledge of alternate energy markets and reputation within these markets throughout Europe will enhance future opportunities for our company as we move forward with our micro fuel cell commercialization efforts. We are excited that Dr. Abhari has accepted to assist in this process and help propel Neah Power forward to commercialization." Dr. Abhari serves as a Member of the Board of Factor3C, a global leader in carbon asset development, and trading of Carbon Emission Reduction credits; Vice-Chairman of the International Gas Turbine Institute; and, Member of NASA Glenn Research Center's Working Group focusing on aeronautical research. Professor Abhari is a member of the prestigious Swiss Academy of Engineering Sciences, a Fellow of American Society of Mechanical Engineers and the recipient of several scientific awards, as well as a keynote speaker in the US, Europe, and Asia on topics related to climate change and energy supply and conversion. Professor Abhari received his PhD from MIT (1991) in Aeronautics and Astronautics and his MA and BA from Oxford University in Engineering Sciences. Dr Abhari said, "Neah Power has a unique and disruptive technology that was demonstrated as a successful prototype last year. This technology can provide industry-leading performance and help accelerate the adoption of fuel cells across the spectrum of military to consumer markets. I look forward to assisting Neah Power as the company scales for growth." Dr. Abhari joins a distinguished Strategic Advisory Board consisting of Joseph R. Bronson, President and COO of Sanmina Corporation, former astronaut Buzz Aldrin and renowned futurist Peter Schwartz. About Neah PowerAbout Neah Power Systems Neah Power Systems, Inc. is a leading developer of fuel cells for military applications, notebook computers and portable electronic devices. The company's patented, porous silicon-based design will provide long-lasting, efficient and safe power solutions. As an emerging leader in fuel cell technology, Neah Power's products will allow users to extend the operating time of 10 to 100 watt devices multiple times beyond that of conventional batteries. Further company information can be found at our website: www.neahpower.com. Forward Looking Statements Except for statements of historical fact, the matters discussed in this press release 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 as discussed 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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