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Neah Power Provides Technology Overview

May 8, 2006

SEATTLE, WA – May 08, 2006 – In response to what it considers inaccurate statements concerning its technology that have recently appeared in certain on-line Internet publications, Neah Power Systems, Inc., (Pink Sheets: NPWS), formerly, Growth Mergers, Inc. has elected to summarize its basic technology and its competitive advantages.

Neah Power a micro fuel cell technology company is focused on developing a patented porous silicon-based direct-methanol fuel cell (DMFC) aimed at providing longer-lasting power solutions for mobile electronic devices and other advanced electronics products. NEAH Power’s design provides a ‘larger reaction area’ thus producing more power versus the most common form of DMFC which is based on a traditional proton exchange membrane (PEM) design. In short, Neah Power’s fuel cell technology uses a porous silicon architecture that creates an efficient power source housed in a smaller space.

Neah Power believes that its patented porous silicon-based DMFC technology is capable of establishing a new standard in micro fuel cell implementation and development by scaling to higher power densities and improving operating efficiencies. This could lead to smaller portable electronic devices for both military and commercial applications. The three key areas differentiating the Company’s patented porous silicon-based direct-methanol fuel cell technology versus traditional PEM based design approaches are:

Power Density:

The unique electrochemical design of the Neah fuel cell allows the whole surface of the electrodes to participate in the fuel cell reaction. In PEM fuel cells, power generating reactions can only take place where a catalyst particle, the membrane, and the fuel all meet. In a Neah cell with its liquid electrolyte, the entire surface of the catalyst is effective.
Neah cells use a powerful oxidizer instead of air to react with the fuel. The reaction in the fuel cell is more energetic so the cell produces more power than an air-based system.
Neah has demonstrated >120mW/cm2 in single cells and stacks at room temperature.

Potential Competitive Advantages:

Neah cells do not utilize a PEM. The PEM may dry out or flood as a result of the electrochemical reaction, especially in dry or humid environments. The cells typically do not work well unless they are level with the ground. Neah cells have the potential to operate regardless of the external humidity, upside down, and sideways.
The PEM can deteriorate over time. The silicon electrodes of the Neah cell are expected to be rugged and stable.
Neah cells lack an air cathode. The durability of air cathodes in DMFCs is hindered by factors such as ruthenium crossover. The Neah cathode is not compromised by this phenomenon.
Because air does not contact the cathode, poisoning by airborne contaminants is avoided.
Neah cells do not require the complex water handling system of PEM cells. This leads to a simple design with potential for higher reliability.
Neah cells will be built and packaged using silicon handling technology similar to that used in the electronics industry. The ability to leverage a sophisticated, existing manufacturing infrastructure simplifies production development and lowers manufacturing costs.

Our technology and any resulting products are still under development and testing and have not been commercially sold in either military or commercial applications. As such, our business is subject to all of the risks inherent in a developing technology company. The above is only a brief summary of our technology and is qualified in its entirety by the disclosures set forth in the Company’s Form 10-SB that has recently been filed with the Securities and Exchange Commission but has not, as yet been declared effective, and is subject to further amendment.

About Neah Power Systems

Neah Power Systems is a micro fuel cell development company using a patented, silicon-based design to provide long-lasting, efficient and safe power solutions for portable electronic devices, including notebook PCs and other power-hungry computer, entertainment, and communications products. As an emerging leader in fuel cell technology and design, Neah Power Systems believes that its products will allow users to extend the operating time of their devices multiple times beyond that of conventional batteries. Key investors include Alta Partners, Frazier Technology Ventures, Castile Ventures, WestAM and Intel Capital. Neah Power Systems is headquartered just outside of Seattle in Bothell, Washington. Further company information can be found at our Website www.neahpower.com and in the reports that we file with the Securities and Exchange Commission, which are accessible at www.sec.gov.

Statements in this press release that are not statements of historical or current fact constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties, and other unknown factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms “believes,” “belief,” “expects”, “intends”, “anticipates”, “will”, or “plans” to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company’’s reports and registration statements filed with the Securities and Exchange Commission.

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