Press release

Brunnthal, November 9, 2006 – With effect from November 1, 2006, the Supervisory Board of SFC Energy AG has appointed Dr. Peter Podesser (39) as the Company’s new Chief Executive Officer (CEO).  Dr. Podesser brings with him more than 15 years of international management expertise in high tech growth industries. Before joining SFC, Dr. Podesser was President of the semiconductor business unit, part of the Swiss Oerlikon (Unaxis) technology group, in the U.S. and Switzerland. In that role he was responsible for the company’s strategic reorientation and positioning. From 2000 to 2005, as the CEO of EV Group, he transformed the company from a start-up into a successful international industrial enterprise. Prior to that, he held several management positions at RHI AG building up the business in China and Asia.

“SFC Energy AG is continually building up momentum. More and more industry customers and consumers know and appreciate the EFOY fuel cells“, says Ruediger Olschowy, Chairman of the Supervisory Board of SFC Energy AG. „We are excited to have an experienced CEO like Dr. Peter Podesser join SFC’s dedicated team. He will bring real value and profile to the Company, in terms of business success as well as in terms of further strengthening SFC’s important role as a technology and market leader in mobile and portable fuel cells.“

Dr. Jens Mueller, CTO of SFC Energy AG says: "I am delighted to welcome Dr. Podesser to his new role as CEO of SFC and I am looking forward to our cooperation. His proven management skills in the successful delivery of sustainable business and growth strategies in technology companies will be a significant asset to us, as SFC moves into the next phase of its growth. After the successful launch of the EFOY fuel cells as mobile power supply, we are now tackling new sales markets for our revolutionary technology. Together with Dr. Podesser, we will steer the Company to even bigger success."

SFC Energy AG was founded in 2000. The Company has been and still is the world’s only company with a fully commercialized product portfolio of fuel cell technologies for mobile and off-grid power applications, serving the leisure, industrial, and defense markets.

With the appointment of Dr. Podesser SFC Energy AG will be led by a two member Management Board, in which Dr. Podesser will serve as CEO and Dr. Mueller as CTO.

About SFC:
SFC (www.efoy.com) is the market leader in fuel cell technologies for mobile and off-grid power applications serving the leisure, industrial and defense markets. As one of Germany’s most successful technology pioneers, SFC has won numerous innovation awards. SFC has alliances with leading companies in a number of industries. Unlike most other fuel cell players, who are still in the R&D phase or run highly subsidized demonstration projects, SFC has been shipping fully commercial products to industrial and private end users for three years already, and has created a convenient fuel cartridge infrastructure. SFC is DIN ISO 9001:2000 certified.