Nanergy Inc. Issues Manufacturing Order For First Product and Obtains Financing

NEW YORK--(BUSINESS WIRE)--Sept. 27, 2005--Nanergy Inc. ("Nanergy") (OTC Other: NNGY), today announced that it had issued a manufacturing order and provided a letter of credit for its first commercial product, the Nanosign(TM) ever-charged illuminated address sign. Manufactured prototypes are expected within 60 days, and first customer shipments aree expected in January 2006.

Separately, the Company announced that it has entered into private placement agreements in the amount of $300,000, of which $150,000 has been funded and $150,000 is expected to be funded before the end of this month.

About Nanergy Inc.

Nanergy Inc. is a developmental stage company headquartered in New York City, with offices near Princeton, NJ at 4260 Rt 1, Suite 7, Monmouth Junction, NJ 08852as well as in Hungary. Its focus is on developing exciting consumer products that harness nanotechnology, and especially photovoltaic nanofilms, while conducting ongoing research in storing hydrogen using carbon nanotubes. Its new corporate website is still being developed but is available for viewing at http://www.nanergyinc.com.

Safe Harbor Statement

This press release contains forward-looking statements that involve risks and uncertainties. This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," "promise," "seeking to," "negotiating to" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.

Contacts

DeMonte Associates
Cynthia DeMonte, 212-605-0525
cdemonte@aol.com

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