High-Efficiency Wind Turbine Generator Manufacturer Danotek Motion Technologies Powering the Wind With $14.5 Million

ANN ARBOR, MI, Nov 19 (MARKET WIRE) --
Bolstering its contribution of high-efficiency and cost-saving generators
to the $37 billion wind industry, Danotek Motion Technologies has raised
$14.5 million from CMEA Ventures, StatoilHydro (NYSE: STO) unit
StatoilHydro Venture and GE (NYSE: GE) unit GE Energy Financial Services.
Danotek's generators can spur the wind equipment market by increasing
wind turbines' efficiency, while radically reducing their maintenance and
operating costs.

"The capital infusion from top-tier, long-term investors will allow us to
expand manufacturing and support our entry into the wind turbine original
equipment manufacturers' market with generators capable of producing up to
three megawatts. We will also scale up generator development for larger
direct drives and offshore units," Dan Gizaw, CEO of Danotek, based in Ann
Arbor, Mich., said of the initial $7.25 million funding round, which CMEA
Ventures and StatoilHydro Venture led and which closed Sept. 23. The
balance of the funds are to be provided in a subsequent round. Additional
details of the funding were not disclosed.

Danotek's patent-pending variable speed Permanent Magnet Generators save
more than $1 million per turbine for wind farm developers and wind turbine
original equipment manufacturers over the life of a turbine. Their unique
design offers high performance at low wind speed. They are significantly
more efficient than conventional generators (with efficiency rates topping
98 percent), and they incur lower operating costs. They are half the
weight of conventional generators and have improved reliability, because
they contain no "wear-and-tear" parts. Danotek's generators and
electronics power converters have elicited interest from large-scale wind
turbine manufacturers globally.

"CMEA's energy and materials group reviewed 1,500 potential green energy
deals in the past 12 months and only invested in four, including Danotek,"
said James Kim, senior partner, CMEA Ventures. "In this space, it's not
enough to have great technology. You also need a team that knows how to
scale its business and forge partnerships with industry incumbents.
Danotek's executive team has accumulated the deep energy industry
experience needed to build a successful business on its breakthrough
technology."

"With its strong technical experience built during decades of research and
development of permanent magnet generators and control electronics,
Danotek is well positioned to take advantage of the technological,
regulatory, and long-term economic and societal factors increasing the
demand for power generated by renewable sources," said Kevin Skillern,
managing director and leader of venture capital at GE Energy Financial
Services. GE has invested more than $150 million in the last two years in
early- and growth-stage energy- and water-related technology companies.

"At StatoilHydro Venture, we are looking for companies with unique
technology that helps increase the efficiency and reliability of
large-scale wind turbines. Danotek is a such company, and we believe that
its high-efficiency generators will make a huge impact on the onshore and
offshore wind industry," said Stale Myhre, investment director,
StatoilHydro Venture.

About Danotek Motion Technologies

Danotek Motion Technologies, Inc. (Danotek) is a clean technology company
that develops high efficiency energy conversion systems for the energy and
transportation markets. The company has patents pending on several high
energy efficiency products: Permanent Magnet (PM) Generators, electronics
integrated pumps, variable speed fans, electric vehicle steering systems,
for EV/HEV, fuel-cell, wind turbine, and combined heat and power
industries. Danotek was founded in 2001 by an experienced former GE,
automotive engineering and management team. Danotek is based in Ann Arbor,
Mich. http://www.danotekmotion.com

About CMEA Ventures:

CMEA Ventures is a venture capital firm focused on energy and materials,
high technology, and life sciences investments. CMEA believes that the
most successful venture backed companies are science focused and have
experienced teams intent on winning. As a result, CMEA's portfolio
companies typically have cutting edge, highly differentiated, and often
multidisciplinary technology at their core, with founding teams of the
highest caliber.

CMEA invests in both early and late stage ventures and has a strong
network of corporate, investment, and entrepreneurial relationships that
it leverages on behalf of its portfolio companies. The firm currently
manages six funds representing investments in excess of $1 billion. CMEA
has been an early stage investor in many leading Silicon Valley high
technology companies, including A123Systems, Entropic (ENTR), Flextronics
(FLEX), Magma (LAVA), Maxygen (MAXY), Silicon Spice (BRCM), Solyndra,
Symyx (SMMX).

About StatoilHydro:

StatoilHydro (NYSE: STO) is a Fortune 50 integrated oil and gas company
based in Norway, the leading operator on the Norwegian continental shelf,
and an expanding international company. www.statoilhydro.com

About StatoilHydro Venture:

StatoilHydro Venture operates as an independent unit with the ambition to
build great companies backed by its industrial expertise, strategic skills
and capital. It has 25 active investment in both the upstream oil & gas,
and in cleantech.

About GE Energy Financial Services

GE Energy Financial Services' experts invest globally with a long-term
view, backed by the best of GE's technical know-how and financial
strength, across the capital spectrum in one of the world's most
capital-intensive industries, energy, to help their customers and GE
grow. With $19 billion in assets, GE Energy Financial Services is based
in Stamford, Connecticut. In renewable energy, GE Energy Financial
Services is growing its portfolio of more than $4 billion in assets in
wind, solar, biomass, hydro and geothermal power. For more information,
visit www.geenergyfinancialservices.com.

About GE

GE (NYSE: GE) is a diversified global infrastructure, finance and media
company that is built to meet essential world needs. From energy, water,
transportation and health to access to money and information, GE serves
customers in more than 100 countries and employs more than 300,000 people
worldwide. GE is Imagination at Work. For more information, visit the
company's Web site at http://www.ge.com.

Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=878216

Media Contacts:

CMEA:
Liz Haas
CMEA(at)atomicpr.com
415-402-0230

GE Energy Financial Services:
Andy Katell
203-961-5773

StatoilHydro Venture:
Email Contact
+ 47 917 51 878

Copyright 2008, Market Wire, All rights reserved.

-0-