Global Search is on for Energy Storage Systems of the Future

OmniCompete Announces Unique Energy Storage Research Funding Opportunity

LONDON, February 17, 2011 - OmniCompete has launched the multi-million Dollar Energy Storage
Challenge (ESC) in a bid to identify, fund and reward new transportable
energy storage systems.

"The aim of the Energy Storage Challenge is to shorten the current 8-15
year process of advancing research ideas into commercial products into a 3-5
year competition based model," said Jonathan Slater, Director of the Energy
Storage Challenge.

The ESC is a set of related challenges, launching this year with the
Fundamental Ideas Challenge and followed in later years by a Lab
Demonstration Challenge and finally a Full Demonstration Challenge.

The Fundamental Ideas Challenge is now open to entrants and currently
seeking the best, original ideas for a transportable energy storage system.
2011 has been heralded as the "Year of Energy Storage" by Rob Day (Black
Coral Capital) and others, as developments in this sector are crucial to
versatility of renewable energy sources.

Entrants to the Fundamental Ideas Challenge can propose transportable
systems of any size, from mobile phone batteries to systems that fit in 60
foot containers, but they must be notably different from existing systems.
Submissions are free and can be made online and will be assessed and
evaluated by a diverse group of highly-qualified, independent judges. The
Challenge is open to any eligible individual, group, company or university.

Finalists from around the world will be invited to the Energy Storage
Challenge Summit in London on 22 September 2011, where they will present
their ideas to industry experts, investors and end-users. The winner will
receive a US$250,000 prize fund, sponsored by ONR (Office of Naval Research)
and ONR-G (ONR-Global).

The Energy Storage Challenge has received widespread international
support, counting ONR, ONR-G, USIBC, the Electricity Storage Association,
EcoSeed and Energy Overviews among its sponsors and partners. Special
advisors to the ESC include Dr Rahul Walawalkar (Customized Energy
Solutions), Dr Eric Wachsman (University of Maryland), David Wells (Kleiner
Perkins Caufield & Byers), Richard Baxter (Premium Power Corporation), Dr Lee
Buchanan (Paladin Capital Group) and David Danielson (ARPA-E).

"The Energy Storage Challenge will play a key role in fostering energy
storage innovation and development. Innovators, investors, and industry will
all benefit from participating in the process. As an investor with a focus on
energy storage, I'm delighted to be involved in this initiative," David
Wells, Partner - Kleiner Perkins Caufield & Byers

Since opening earlier this year, more than 20 submissions have already
been made, based on thermal, electric and chemical solutions.

The Challenge closes for entries on 1 April 2011. All entries can be made
at www.omnicompete.com/energy.html. Parties interested in partnership,
sponsorship or judging opportunities should contact
info@energystoragechallenge.com.

About OmniCompete:

The Energy Storage Challenge falls under the energy division of
OmniCompete, a London-based company that uses competitions and challenges to
foster innovation. OmniCompete was founded on a desire to match innovators
with investors, problems with solutions, and achievements with prizes.

OmniCompete offers innovators a respected platform, a targeted audience
and the chance to win prize money, high-quality mentorship and invaluable
publicity. Simultaneously, it offers government and industry a cost-effective
way to find a solution to a problem or gap they have identified, thereby
promoting a culture of innovation and creation, inspiring entrepreneurs,
challenging the status quo and pushing the limits of technology development.

OmniCompete benefits from the experiences of its inaugural project, the
Global Security Challenge (founded in 2006): successful execution of more
than fifteen international competitions, over $2.5M granted in prizes and
more than GBP80M subsequently raised by our winners and finalists.

For more information:

Please contact Siobhan Gibney at siobhan@omnicompete.com or
+44(0)207-224-0110.

For more information: Please contact Siobhan Gibney at siobhan at omnicompete.com or
+44(0)207-224-0110.