1. Neah Power Systems, Inc
NPWZ
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2. Forward Looking Statements
Except for statements of historical fact, the matters discussed in
this presentation 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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3. Neah Power Mission Statement
Provide the most competitive portable power solution by
leveraging our differentiated product, manufacturing
model and business model.
Illustrative Example
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4. Fuel cells vs. batteries
What are fuel cells
• Direct conversion of fuel into electricity
• Electrochemical catalyzed reactions
Fuel + oxidant electricity
• Fuel once consumed, needs to be replaced
What are batteries
• Two types – primary and secondary
• Primary – single use then discard
• Secondary – rechargeable
Recharging – electric current to convert spent chemicals

5. Battery Technology Challenges
Demand for longer runtime
Lithium-ion batteries
• Heavy
• Safety concerns
• Inefficient performance
Power gap, demand vs. available energy
• Power hungry features
• Increased use in mobile environments
• Limited battery technology

6. Shedding The Pounds
Fuel Cell for a BA-5590
72-hour Mission 72-hour Mission
•1 fuel cell • 12 BA-5590
•9 fuel cartridges military standard
batteries
Total weight
= 8 lbs Total weight
= 27 lbs
Reduces Weight 70% on 72-Hour Mission
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7. Fuel Cell Technology Benefits
Benefits of methanol
Converting fuel into electricity
Mobile life via fuel replenishment
Access to power “Off-the-Grid”
Benefits over battery technology
Clean, renewable & environmentally safe

8. Direct Methanol Fuel Cell (DMFC) Challenges
Proton Exchange Membrane (PEM) Technology
Operating issues
Water management
Reliability
Low power density and efficiency
Manufacturability and commercialization

9. NEAH Fuel Cell Technology Solution
Silicon-based, DMFC
• Porous silicon electrode structure
• Circulating liquid streams of fuels
Stable, long-lasting materials
Increased power density
Leverage silicon manufacturing infrastructure
Easily customizable Lego design
Healthy GM – fuel cell, recurring revenue from cartridges

10. Innovation Well Recognized
Venture All-Stars
NIST/ATP $2M Award Top 25 Company
Sept. 2003 Red Herring
June 2005
Top 100 Innovators
Dec. 2004
“Startup of the Year”
Seattle Alliance of Leroy Ohlsen
Angels Top 100 Young ONR Award
May 2004 Innovators July 2007 & Sept 2008
Sept. 2004
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11. Technology & Strategic Advisory Boards
Strategic Advisory Board
Reza Abhari Ph.D.
• Professor, Entrepreneur, Alternative energy expert
Joseph R. Bronson
• CEO - SVTC, Member BOD - Sanmina-SCI Corp
Carol Mutter M.S., M.A., Ph.D. (Hon)
• Ret Lt Gen USMC; R&D, Systems Integration, Logistics and
Procurement
James Mutter, MBA
• Ret Col USMC; Field T&E, Systems Integration and C3 Ops
Technology Advisory Board
John Drewery, Ph.D., Former EVP Neah Power, Novellus Systems
• Technology Director at Novellus Systems
Steve Meyer, Ph.D., Novellus Systems
• Director and Principal Engineer, Novellus
Wilbert Van Den Hoek, Ph.D., Novellus Systems
• Former CTO Novellus
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12. Experienced Management & Directors
Management Team
Chris D’Couto, Ph.D., MBA – President & CEO
Steve Wilson, CPA, CMA - CFO
Tsali Cross, Ph.D. – VP of Engineering
Kenth B Pedersen – Chief Business Development Officer
Board Of Directors
Chris D’Couto Ph.D., MBA – CEO Neah Power Systems
Jon Garfield – CEO Clearant, Inc, VP, Acquisitions, Coach Inc.
Ed Cabrera, MBA – Executive Managing Director Jesup & Lamont
Paul Sidlo – Founder and CEO, REZN8

13. Neah Power Systems - Overview
Differentiated & competitive solution for portable power
Disruptive and unique fuel cell technology
Successful prototype positioned for commercialization
Office of Naval Research (ONR) funds major development
Large addressable markets
• Defense
• Homeland Security
• Industrial users
• Consumer Products

14. PEM DMFC vs. Neah DMFC
Fuel Fuel & Electrolyte
Electrolyte
(PEM)
Catalyst
Air Oxidant & Electrolyte
Technology Proton Exchange Membrane FC Porous Silicon FC
Power Density 60 – 80 mW/cm2 200 mW/cm2
Challenges Air breathing, drying, flooding Balance of Plant
Operating Environment Air only Air and No – air
Manufacturability Custom infrastructure Si and EMS outsourcing
IP & Patents Diffuse, overlapping Clear, unique*
* - 11 US, 12 non-US, 6 pending US
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15. Industry leading power density
High Surface Area ~ High Power density

16. Targeted Markets
Portable Power (< 1kW)
• Consumer, military, industrial applications
Semi – portable and stationary power (>1kW)
• Unmanned underwater vehicles, standby/backup power
• Automotive applications
Power storage/load leveling for renewable energy
• Renewable power storage / leveling
• Wind

17. Fuel Cell Markets
Transportation ~ $20B
10MW
Primary
Stationary~
10kW market $2B
Power
Portable ~$9B
100W
Secondary
market Market size
Projected for 2010
Source: Frost & Sullivan
1W
0.1L 1L 10L 100L
Power System Volume

18. Large Addressable Markets
Projected units - 2010
23.6 Million 22.0 Million 79.6 Million
Military First Responders Consumers
Industrial / Distributed Mobile Life
Source: Frost & Sullivan 18

19. Recent Achievements & Milestones
Issued Manufacturing Technology White Paper (August 5, 2009)
Issued Energy Storage White Paper (August 4, 2009)
Received $10 million funding commitment from Optimus Energy
Capital Partners (July 30, 2009)
Completed acquisition of SolCool One, LLC (July 28, 2009)
Podder Family makes large investment in company (July 22, 2009)
Named Emmy-award winning, creative director Paul Sidlo to Board of
Directors (July 19, 2009)
Presented fuel cell prototype at 11th Electrochemical Power Sources
R&D Symposium (July 13, 2009)
Demonstrated first hybrid electrolyte aerobic direct methanol fuel
cell (July 8, 2009)
Signed LOI with EKO Vehicles awarding Neah Power master
distribution rights to EKO Vehicles’ battery and fuel cell electric
scooters in the United States (June 30, 2009)

20. Recent Achievements & Milestones
Signed LOI with EKO Vehicles to supply all batteries and fuel cells used in
EKO Vehicles electric scooters sold in the United States (June 30, 2009)
Signed LOI with EKO Vehicles to develop and supply direct methanol fuel cell
battery chargers for all battery fuel cell hybrid electric scooters sold in India
and the United States (June 30, 2009)
Signed LOI with EKO Vehicles to develop and supply direct methanol fuel cell
battery chargers for EKO Vehicles’ distributed renewable energy stations
(June 30, 2009)
Demonstrated anaerobic direct methanol fuel cell prototype
(June 25, 2009)
Signed LOI with Hobie Cat to supply direct methanol fuel cell battery
chargers for Hobie’s battery electric line of recreational water vehicles
(June 17, 2009)
Named Jesup & Lamont executive, Ed Cabrera to Board of Directors
(June 17, 2009)
Signed a technology license agreement with Hobie Cat Company
(April 21, 2009)

21. Key Advancements for Initial Production
Larger electrodes- increase
power output by 2.5X
Injection molded packaging - 30x30 mm2 electrodes
higher reliability and more
compact cells
Wire-bond interconnects –
Reduces losses 43x43 mm2 electrodes
Miniaturized pumps-size
reduction
Simplified electronics- increase
reliability
Compact thermal management
Wire-bond interconnects &
solution - size reduction PVDF packaging

22. Neah Power DMFC Manufacturing Model
Si Substrate Si Electrode Cell / Stack
Assembly &
Production Production Assembly
Test OEM
(IceMOS) (Neah) (Aspen
(Sanmina-SCI)
Technologies)
Combined in 6 – 9 mos
Neah Power works with the whole supply chain to ensure quality, cost and timeliness

23. Strategic Relationships & Affiliation
Intel Capital Sanmina-SCI, Inc.
• Laptop & consumer markets • Electronics design
• Supplier connections • Thermal components
Novellus Systems Inc. • System integration
• Semiconductor processing and • Device packaging
equipment
Aspen Technologies
• Technical expertise for Silicon
• Wire-bond
processing
• Cell and stack assembly
American Electronics Assoc.
• Govt. agencies & procurement IceMOS Technology
• Foreign markets • Si Foundry Partner
• Business network • Si electrodes

24. General Dynamics’ EDGE™ Partnership
A world-class, collaborative innovation & technology center dedicated
to accelerating & integrating technology for the war fighter.
The following companies are EDGE™ Members:
The companies referenced on this slide
are members of The EDGE™. They are
not affiliated with Neah Power. Their
reference here is not an endorsement
of Neah Power.

25. Neah Power: The Opportunity
Experienced management team & board
Strong Technical & Strategic Advisory Board
Huge, untapped markets
Healthy business model
Unique and disruptive proven technology
Low burn rate structure
Early engagements with product integrators
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