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11.12.2007

HUGIN NEWS/Heliocentris completes equity issue and raises gross proceeds of EUR 4.35 million

Berlin - 11 December 2007. Heliocentris Fuel Cells AG, a leading fuel cell system integrator, has successfully completed its subscription rights issue and a subsequent private placement and has sold all the 750,000 shares offered at EUR 5.80 per share. The offering met a high level of demand and in addition to existing shareholders, shares were placed with selected institutional investors in continental Europe and in the UK. The company raised gross proceeds of EUR 4.35 million. Its share capital will increase from EUR 1.5 million to EUR 2.250 million divided up into 2.250 million shares at a par value of EUR 1 per share. The London investment house Innovator Capital Limited, which specialises in clean technologies, structured and managed the transaction. According to Dr. Colell, CEO of Heliocentris Fuel Cells AG, "We are delighted about the level of interest and trust placed in Heliocentris by our existing and new investors who took part in this capital increase. This fresh capital will enable us to increase our international sales and marketing activities and to push ahead with and expand the scope of ongoing work in the development of high-performance fuel cell systems and hydrogen system solutions. Our enhanced financial strength will help us to further consolidate our position as a leading fuel cell system integrator." About Heliocentris Fuel Cells: Heliocentris is a leading supplier and system integrator of fuel cells. As a pioneer of the fuel cell industry Heliocentris has many years of experience in the development, production and sales of fuel cell systems and applications. Within the training and R&D systems for fuel cells, Heliocentris is one of the world's market leaders with more than 10,000 training facilities and companies in more than 50 countries as customers. These customers are offered more than 50 different products from eight product lines. The range of products and services offered varies from demonstration units for teaching and study to integrated laboratory systems for R&D as well as client specific, industrial applications. In addition to the Company's head office in Berlin, Heliocentris has one subsidiary on the North American market in Vancouver, Canada. Further information can be found at: www.heliocentris.com For further information please contact: Heliocentris Fuel Cells AG Dr. András Gosztonyi (CFO) Tel: +49-(0)30-6392-6185 Email: a.gosztonyi@heliocentris.com Disclaimer: This press release contains forward-looking statements that are based on current assumptions and forecasts of the management of Heliocentris Fuel Cells AG. Known and unknown risks, uncertainties and other factors could lead to material differences between the forward-looking statements given here and the actual development, in particular the results, financial situation and performance of our Company. The Company assumes no liability to update these forward-looking statements or to conform them to future events or developments. The information in this press release does not constitute an offer of securities for sale or a solicitation of an offer to purchase securities in the United States or any other country. http://www.heliocentris.com Copyright © Hugin ASA 2007. All rights reserved.

Berlin - 11 December 2007. Heliocentris Fuel Cells AG, a leading fuel cell system integrator, has successfully completed its subscription rights issue and a subsequent private placement and has sold all the 750,000 shares offered at EUR 5.80 per share. The offering met a high level of demand and in addition to existing shareholders, shares were placed with selected institutional investors in continental Europe and in the UK. The company raised gross proceeds of EUR 4.35 million. Its share capital will increase from EUR 1.5 million to EUR 2.250 million divided up into 2.250 million shares at a par value of EUR 1 per share. The London investment house Innovator Capital Limited, which specialises in clean technologies, structured and managed the transaction. According to Dr. Colell, CEO of Heliocentris Fuel Cells AG, "We are delighted about the level of interest and trust placed in Heliocentris by our existing and new investors who took part in this capital increase. This fresh capital will enable us to increase our international sales and marketing activities and to push ahead with and expand the scope of ongoing work in the development of high-performance fuel cell systems and hydrogen system solutions. Our enhanced financial strength will help us to further consolidate our position as a leading fuel cell system integrator." About Heliocentris Fuel Cells: Heliocentris is a leading supplier and system integrator of fuel cells. As a pioneer of the fuel cell industry Heliocentris has many years of experience in the development, production and sales of fuel cell systems and applications. Within the training and R&D systems for fuel cells, Heliocentris is one of the world's market leaders with more than 10,000 training facilities and companies in more than 50 countries as customers. These customers are offered more than 50 different products from eight product lines. The range of products and services offered varies from demonstration units for teaching and study to integrated laboratory systems for R&D as well as client specific, industrial applications. In addition to the Company's head office in Berlin, Heliocentris has one subsidiary on the North American market in Vancouver, Canada. Further information can be found at: www.heliocentris.com For further information please contact: Heliocentris Fuel Cells AG Dr. András Gosztonyi (CFO) Tel: +49-(0)30-6392-6185 Email: a.gosztonyi@heliocentris.com Disclaimer: This press release contains forward-looking statements that are based on current assumptions and forecasts of the management of Heliocentris Fuel Cells AG. Known and unknown risks, uncertainties and other factors could lead to material differences between the forward-looking statements given here and the actual development, in particular the results, financial situation and performance of our Company. The Company assumes no liability to update these forward-looking statements or to conform them to future events or developments. The information in this press release does not constitute an offer of securities for sale or a solicitation of an offer to purchase securities in the United States or any other country. http://www.heliocentris.com Copyright © Hugin ASA 2007. All rights reserved.

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