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Fiscal 2007 Defense Appropriations Act Includes $1.35 Million for the Ongoing Development of Porous Silicon-Based Methanol Fuel Cells

October 11, 2006

Seattle, WA—Neah Power Systems, Inc., a Nevada corporation (Pink Sheets:NPWS – News), today announced that the Department of Defense Appropriations Act for Fiscal 2007 passed by the Congress and signed by the President includes $1.35 million for the continued research and development of a Porous Silicon-based Direct Methanol Fuel Cell for use in portable military devices and electronics.

“We are looking forward to continued research and development of Porous Silicon-based Direct Methanol Fuel Cells as a means of providing enhanced portable power solutions for both military and homeland security applications,” said Dan Rosen, Ph.D. Chairman of Neah Power Systems. “This funding will enhance our abilities to continue working with the Navy to develop and prototype a next-generation portable power source for numerous military applications.”

The US military has a demonstrated need for portable, lightweight, long-lasting power sources to operate all types of electronic equipment in the field. Through an innovative approach, Neah is developing a 45-watt, porous silicon-based micro fuel cell packaged in a size no larger than the military’s BA-5590 battery, which is currently used in many portable power applications. This level of performance can offer significant weight savings during the course of extended missions, as well as providing the potential for overall cost savings.

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.

For More Information

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Lippert Heilshorn & Associates
Moriah Shilton
415-433-3777