Magenn Power Inc.

Magenn Power Inc.

August 27, 2007 16:30 ET

MAGENN Wind Power Naming Pierre Rivard as New CEO

Co-founder Mac Brown Steps Into Chief Marketing Officer and Interim Chief Operations Officer Position

OTTAWA, ONTARIO--(Marketwire - Aug. 27, 2007) - The Board of Directors of MAGENN Corporation, a leading developer of renewable energy and airship technology, today announced that Pierre Rivard, an enterprising leader with 30 years of high-technology growth experience, has been appointed President and Chief Executive Officer of the Corporation.

Mr. Rivard succeeds to co-founder Mac Brown, who announced that he would move into the role of Chief Marketing Officer and interim Chief Operations Officer. Founder Fred Ferguson continues in the position of Chief Technology Officer.

"MAGENN is poised for significant growth in a dynamic industry, and is ready to exploit the tremendous commercial opportunities that are emerging in wind energy," said Mr. Brown. "The board of directors and co-founders recognized that new, yet complementary, management skills can support the Company's development."

"Mr. Rivard brings the proven ability to take an emerging energy-technology company and enable it to become a highly successful provider of commercial products. He has a wealth of diverse international business experience, having held the President & CEO position of a NASDAQ-listed company for 5 years, Hydrogenics Corporation (NASDAQ:HYGS) (TSX:HYG)."

Pierre Rivard is a graduate from the MBA program at the Richard Ivey School of Business, University of Western Ontario. He is also a graduate from the Masters of Engineering (Mechanical) at the University of Toronto, and from the Bachelor of Engineering (Mechanical) at the Royal Military College of Canada. Mr. Rivard also served 20 years as an aerospace engineer with the Canadian Air Force, achieving professional engineering certification on a number of aircraft.

"We are building on our strengths and momentum," said Mr. Monette, Chairman of the Board. "We are building on the foundation created under co-founders Fred Ferguson's and Mac Brown's leadership, adding new capabilities to a solid team, to get to the next level in MAGENN'S development."

About MAGENN

MAGENN Power is an Ottawa Canada based company focused on delivering next generation wind turbines. The MAGENN Air Rotor System (MARS) is a "Wind Power Anywhere" solution with the ability to operate up to 1000 feet in any location.

MARS is an innovative lighter-than-air tethered device that rotates about a horizontal axis in response to wind, efficiently generating clean renewable electrical energy at a lower cost than competing systems.
www.magenn.com

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This release contains forward-looking statements within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Law of 1995. These statements are based on management's current expectations and actual results may differ from these forward-looking statements due to numerous factors, including changes in the competitive environment adversely affecting the products, markets, revenues or margins of MAGENN'S business. Readers should not place undue reliance on MAGENN'S forward-looking statements. Furthermore, the forward-looking statements contained herein are made as of the date of this release, and MAGENN undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release. The forward-looking statements contained in this release are expressly qualified by this.

Contact Information