Northern Lights Energy and REVA Agree to Develop Iceland's EV Market

LONDON, November 16 - Northern Lights Energy (NLE), initiator of Iceland's Project
2012 and provider of infrastructure and services for electric vehicles (EVs)
has signed an agreement with Reva Electric Car Company (REVA) to develop the
electric vehicle market in Iceland. NLE has exclusive distribution rights for
REVA's electric cars including the new NXR that premiered at the recent
Frankfurt Motor Show and 2011's model, the NXG sports coupe. Marketing of the
NXR starts in the second half of 2010, with deliveries at the end of the
year.

The REVA NXR is a four-seat, three-door hatchback family car
with a top speed of 104 kph and a range of 160 kms per charge. Using the 90
minute fast charge (normal charging is eight hours), the NXR's effective
range is 320km a day. A fast charge for 15 minutes provides a 40 km range.

Iceland is also one of several countries being considered by
REVA as a possible site for a European assembly plant. REVA has more than
3,000 vehicles on the road in 24 countries and recently announced a joint
venture with General Motors India to provide the electric powertrain and
energy management systems for the new Chevrolet Spark.

NLE is developing a (re)charging infrastructure system and
vehicle exchange service to support the adoption of electric vehicles in
Iceland. "Iceland is an island with an advanced electric grid technology,
using 100% renewable energy, so it is a perfect location for zero emission
electric vehicles," says Gisli Gislason, chairman of NLE.

NLE is also working on developing systems to convert internal
combustion engine car fleets into electric cars. "We are working with a
number of parties in Denmark and Finland towards the swift development of
Iceland's EV market with the aim of reducing the 680.000 tons of CO2 emitted
annually. This is what the Project 2012 is all about," says Sighvatur
Larusson, COO of NLE.

"The 2012 project is one of the most ambitious, yet
achievable, personal transport electrification projects in the world today
and we are pleased to be able to contribute our products and experience" says
Keith Johnston, president, European operations at REVA.

www.nle.is

www.revaglobal.com

High-resolution photos and logos

www.digital.sys.is/revapress/

For further information about Northern Lights Energy contact Sturla Sighvatsson at sturla at nle.is. Tel: +354-898-7471; For further information about REVA contact Rossana Tich at
reva-pr at reva-ev.com, Tel: +44(0)20-8985-8935