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Neah Announces Commencement of Testing on Fuel Cell Stack Architecture; Action Keeps Company On Track To Deliver Initial Prototype In 3rd Quarter 2007

May 15, 2007

SEATTLE—(BUSINESS WIRE)—Neah Power Systems, Inc. (OTCBB: NPWS – News), a leading developer of micro fuel cells for lap top computers and military and civilian portable electronic communications equipment announces today that it has begun initial testing of the fuel cell stack architecture that is targeted for inclusion in Neah’s fuel cell prototype development program.

Dan Rosen, Chairman of Neah Power, commented, “This is an important step in our technical progress. The multi-cell stack is the key component to power generation in fuel cells and this effort will help define the characteristics that best take advantage of our unique porous silicon electrode architecture. The design attributes of this stack keep us on track to deliver our initial fuel cell prototype anticipated for the 3rd quarter of this year. Once validated, this design will also be used as the baseline with our manufacturing partners to develop higher volume, lower cost and more rugged designs that will ultimately serve our commercial customers.”

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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