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Neah Power Systems and IceMOS Technology Discuss Silicon Partnership

August 14, 2008

Neah Power Systems, Inc., (OTCBB: NPWS - News), a leading developer of fuel cells for military, industrial and consumer portable electronic devices, announced today that it has created a strategic partnership with IceMOS Technology Ltd. to utilize the company as its starting substrate supplier. This partnership allows Neah Power to leverage the Engineered Substrate manufacturing expertise of IceMOS to produce the starting material that act as the electrodes for Neah�s proprietary fuel cells.

IceMOS Technology Ltd. specializes in bonded silicon substrate production and develops unique, Engineered Substrate processing techniques for companies, such as Neah Power, who would use IceMOS as a critical step in their manufacturing process. This allows Neah Power to increase its volume without having to build the large infrastructure that would otherwise be needed.

"We are very excited about the opportunity to work with Neah Power Systems and help bring their fuel cell solution to market," said IceMOS President and CEO Samuel Anderson. "They have a unique, differentiated solution, and we believe we can provide a key building block with our Engineered Substrates that leverage our core competencies; bonding, etch, and thinning of silicon wafers. We look forward to a productive partnership, and are thrilled to take part in enabling the success of Neah's product."

President and CEO of Neah Power Systems, Dr. Chris D'Couto said, "This partnership with IceMOS is further validation of our manufacturing model and our competitive differentiation. Our use of proprietary silicon electrodes and leveraging the mainstream silicon processing industry, gives us unique advantages in going to market quickly by using the engineered silicon capabilities of IceMOS. This gives us a best-of-breed source for silicon electrodes. When placed with our previously established partnerships, Aspen Technologies and Sanmina-SCI, IceMOS helps complete the placement of all of the building blocks needed for Neah Power's product."

About Neah Power Systems

Neah Power Systems, Inc. (NPWS) is developing long-lasting, efficient and safe power solutions for portable electronic devices, including notebook PCs, military radios and other power-hungry products. The market size for portable power is estimated in the multi-billion dollar range by the research group Frost and Sullivan. Neah Power uses a unique, patented, silicon-based design for its micro fuel cells that enable higher power densities. This enables lighter-weight, smaller form-factors and lower cost products, as well as an outsourced manufacturing model. The company's working micro fuel cell prototype, which was demonstrated on September 28, 2007, runs as a closed-loop system without requiring air as an oxidant. Further company information can be found at our website: www.neahpower.com.

About IceMOS Technology Ltd.

IceMOS Technology Ltd. is a privately held company with a global sales presence, using direct and distributor sales channels. Originally founded as BCO Technologies in 1993, IceMOS has over 15 years of experience as a provider of value-added "Advance Engineered Substrates". Headquartered in Tempe Arizona, with manufacturing in Belfast Northern Ireland, IceMOS is recognized most in the industry for their "thick film" bonded SOI (Silicon On Insulator) substrates.

Their "Engineered Substrate" offering can be fully customized to meet each customer's specification. These products combine in-house processing capabilities by leveraging silicon bonding, etching, and thinning technologies. They are used in a variety of application in all market segments. The IceMOS "Engineered Substrate" offering includes Through Silicon Via (TSV) Substrates, Cavity Bonded Substrate, and Dielectrically Isolated Substrates.

Further company information can be found at www.icemostech.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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