The placing ('Placing') totals 15,272,498 Ordinary Shares comprising 14,182,074 new Ordinary Shares and 1,090,424 existing Ordinary Shares, which represent in aggregate approximately 30.9 per cent of the Company's enlarged issued Ordinary Share capital. The new Ordinary Shares issued pursuant to the Placing include 1,484,998 Ordinary Shares that were issued to Dresdner Kleinwort in connection
with its role in the Placing. The gross proceeds of the Placing to be received by IdaTech from the issue of new Ordinary Shares are approximately £12.7 million.

The Company has also entered into a medium term loan note of approximately £5.0 million ($10 million) giving the Company access to aggregate funding of approximately £17.7 million (£15.1 million net of cash fees and expenses of the Placing of £2.6 million).

Dresdner Kleinwort Limited ('Dresdner Kleinwort') is Nominated Adviser and Broker to the Company.

Overview

IdaTech is focussed on commercial markets in which current solutions are arguably inferior to fuel cell technology. The Company is also developing technology to address additional opportunities in consumer and industrial markets. The directors of the Company (the 'Directors') believe that this parallel approach positions IdaTech to address both near and longer term markets for fuel cells and related systems.

Competitive strengths

The Directors believe that IdaTech possesses a number of strengths that could provide it with a competitive advantage over other fuel cell companies in markets such as backup power and portable power. These include:

  * Advanced technology and product design: The Directors believe that
    IdaTech's proprietary technology in the generation of greater than 99.5 per
    cent. pure hydrogen from a variety of fuels, together with its ability to
    integrate this fuel reforming technology into fuel cell systems, enables the
    Company to address a wider range of markets than its competitors;
 

  * Applied research and development strength: The Directors believe that
    IdaTech has a strong in-house research and development capability in fuel
    reforming, hydrogen purification and fuel cell stacks;
 

  * Quality of business relationships/development partnerships: IdaTech has achieved approved vendor status with T-Mobile USA and its products have been tested and certified for installation in Telecom Italia's network. In addition, IdaTech is in tests with a number of other telecommunications companies in Europe and the United States;
 

  * Extensive intellectual property portfolio: As at 30 April 2007, IdaTech held 134 worldwide patents granted, of which 50 are US patents, and more than 160 pending patent applications;
 

  * Expanding manufacturing capabilities: During the second half of 2007, IdaTech intends to commence manufacturing in its new facilities in Tijuana, Mexico; and
 

  * A strong management team: The IdaTech management team includes experienced professionals from a variety of backgrounds, including engineers, business managers and research and development experts.
 

Strategy for growth

The Directors believe that adoption of IdaTech's technology will follow a path from premium to mass applications in both industrial and consumer markets. Markets on which IdaTech is or will be focussing in the short-term include:

  * Backup or remote power in industries where continuity of power is essential (particularly communications);

  * Small scale and portable power for industrial applications (such as small monitoring and telecommunications stations), high end consumer applications (such as power for recreational vehicles and yachts) and military applications; and

  * Power for industrial materials handling vehicles, such as fork-lift trucks, which currently utilise batteries.

IdaTech's technology

IdaTech has proprietary technology in fuel reforming, hydrogen purification and PEM fuel cells which it combines with engineering expertise to produce integrated fuel cell systems.

Fuel reforming and hydrogen purification. IdaTech has technology in all three key reforming technologies; steam, autothermal and partial oxidation and hydrogen purification technology that can transform a variety of fuels into greater than 99.95 per cent. pure hydrogen.

PEM fuel cell systems. IdaTech's PEM fuel cell systems can be powered by stored hydrogen or by hydrogen reformed from alcohol and hydrocarbon fuels (such as diesel) and then purified.

Integrated fuel cell systems. IdaTech is able to combine its proprietary technologies into complete, integrated systems. IdaTech's fuel cell systems are based on a flexible modular design supporting interchangeable components.

Current markets for IdaTech's technology

IdaTech is initially focussing on three key markets:

a) The critical backup power market

IdaTech's initial focus in the critical backup power market is on systems for telecommunications base stations. It is estimated that in 2012 the total global number of wireless telecoms base stations will be approximately 2,390,000 installed units (Source: In-Stat), and the total global number of wireline
Installations will be 887,000 installed units (Source: ECTA Broadband Scorecards, ITU and VSTA).

IdaTech's system - the ElectraGenTM family of products.

The ElectraGenTM family of critical backup power systems are typically designed with the objective of providing higher system reliability at a cost that is comparable to that for the traditional VRLA battery technology on an overall lifecycle basis. When grouped together, ElectraGenTM systems can support
critical loads of up to 15 kWe.

The ElectraGenTM XTR pairs an ElectraGenTM unit with IdaTech's methanol processing system, the XTR Module. The ElectraGenTM XTR Module overcomes the challenges of stored hydrogen by producing hydrogen onsite as required from a convenient liquid fuel and thereby overcoming the hydrogen barrier.

b) Portable and remote power markets

In the sub-kilowatt output power sector, the Company is focused on three major market segments;

  * Industrial applications for small, autonomous fuel cell power generators:
 

  * Recreational vehicles and boats; and
 

  * Military applications.

IdaTech's system - the iGenTM

The iGenTM fuel cell power supply is IdaTech's sub kilowatt portable fuel cell system. The iGenTM system allows battery charging capability in standalone or hybrid configurations for a variety of applications instead of using conventional internal combustion generators. The Company is focused on further development of the product to enable it to operate using a more widely available fuel, such as propane, for some of its markets.

In 2004, 2005 and 2006, IdaTech received development contracts from the US Department of Defense with regards to the iGenTM system.

c) The materials handling market

Fuel cells are widely seen as an alternative to pure battery systems in powering materials handling applications such as forklift trucks.

IdaTech's offering - materials handling product to be developed.

IdaTech plans to develop a system that would typically incorporate fuel cell systems with output power between 3 and 10 kWe working in conjunction with batteries, and potentially ultra capacitors, to provide a peak power output suitable for Class 1 and Class 2 lift vehicles (as defined by the International
Truck Association's classification system).

Summary of the Placing

Placing Price                                                           £ 1.00

Number of Ordinary Shares in the Placing                            15,272,498

Number of new Ordinary Shares to be issued by the Company           14,182,074

Number of Ordinary Shares to be sold by the selling
shareholders(1)                                                      1,090,424

Percentage of issued share capital immediately following

Admission being offered in the Placing                                    30.9%

Number of Ordinary Shares in issue immediately following
Admission                                                           49,499,969

Market capitalisation of the Company immediately following       £ 49.5 million

Admission at the Placing Price

Estimated net proceeds of the Placing receivable by the Company  £ 10.1 million
(2)

(1) Of the 1,090,424 Ordinary  Shares sold by the selling shareholders in the Placing, 317,895 are Ordinary  Shares that were allotted and issued to certain employees following their exercise of options over Ordinary Shares in the Company following the publication of the Admission Document on 23 July 2007.

(2) Net proceeds receivable by the Company are stated after deduction of estimated fees and expenses of the Placing (including VAT, but excluding a corporate finance fee and underwriting commissions  ayable by the Company to Dresdner Kleinwort in connection with the Placing, which shall together be
discharged in full by the allotment and issue of 1,484,998 new Ordinary Shares to Dresdner Kleinwort as part of the Placing) of approximately £2.6 million. The Company will not receive the proceeds of the existing Ordinary Shares being sold by the selling shareholders.

Use of proceeds

The Company expects to benefit from the ability to apply increased resources to its research and development efforts, whilst maintaining a strict focus on cost control and continuing to seek development partners. The net proceeds of the Placing to be received by the Company amounting to approximately £10.1 million after expenses will be used principally to finance ongoing research and

development activities, expand the Company's sales and marketing function, expand the Company's manufacturing capabilities, to repay a debt of $1.1 million (plus accrued interest of approximately $5,000) owed to Investec Group Investments (UK) Limited, a major shareholder in the Company, and for general corporate purposes.

Commenting on the commencement of trading, Harol Koyama, Chief Executive Officer, said:

'I am delighted that IdaTech has commenced trading on AIM today. The float will enable the Company to increase its research and development efforts and widen its sales and marketing capabilities to encompass a greater number of geographies, vertical industries and distribution channels.'

For further information please contact:

IdaTech plc                                                      +1 541 322 1000

Harol Koyama, Chief Executive Officer
James Cooke, Chief Financial Officer

Dresdner Kleinwort                                          +44 (0) 20 7623 8000

Charles Batten / Angus Kerr / Ben Bailey / Jon Drage

Buchanan Communications                                     +44 (0) 20 7466 5000

Charles Ryland / Catherine Breen