ISE Signs Exclusive 5-Year Agreement With Optare UK Ltd to Supply Ultra-E Energy Storage Systems and Launches Production of Com

SAN DIEGO, CA--(Marketwire - June 22, 2010) - ISE CleanTech, Inc., a wholly-owned subsidiary of ISE Limited (TSX: [ ISE ]), a leading developer, manufacturer and distributor of energy storage systems (ES Systems) and heavy duty hybrid-electric drive systems, signed a 5-year exclusive supply agreement with Optare UK Ltd, effective June 21^st. ISE secured its initial order for 66 ISE Ultra-E™ ES Systems with 22 systems to be delivered in 2010.

Optare, a leading manufacturer of electric and hybrid-electric vehicles, designs, manufactures, and sells single deck and double deck buses and mini coaches and offers comprehensive post-sales service via operations throughout Continental Europe, North America, and elsewhere. As announced on May 10^th, Optare won an award for up to 66 units, or 100% of the hybrid bus order, from Greater Manchester Integrated Transport Authority (GMITA).

"Our initial purchase order and 5-year exclusive agreement with Optare establishes ISE as the supplier of choice for ultracapacitor-based ES Systems," stated Rick Sander, CEO and president of ISE. "We look forward to partnering with Optare as it deploys hybrid buses under the GMITA order. This significant order with Optare demonstrates the robust opportunities for deploying our ES Systems to OEMs worldwide."

Glenn Saint, Optare's commercial director, stated, "As not all hybrid buses are the same, we needed to ensure our low emission vehicles were each powered efficiently and effectively. After an extensive evaluation process, we choose ISE as our exclusive supplier for ultracapacitor-based ES Systems because of its rugged, modular and scalable designs. ISE's Ultra-E ES System is clearly the best solution for our hybrid vehicles. We are confident that our selection of ISE will enable us to fulfill what represents the single largest order for hybrid buses so far to be placed with help from the Green Bus Fund. Our partnership also enhances Optare's leadership position in this highly-competitive hybrid vehicle market."

According to Frost & Sullivan as of December 2009, the estimated global hybrid and electric heavy commercial vehicle demand, which represents part of the addressable market for energy storage systems, is expected to reach approximately 240,000 units produced by 2015.

Alex Bernasconi, senior vice president of sales and marketing at ISE, stated, "We are excited to work with Optare to equip its hybrid buses with our Ultra-E ES System. As a result of our substantial experience in developing and manufacturing innovative technologies and system solutions, we produced the Ultra-E ES System, which features lightweight construction and an innovative modular design. Our advanced Ultra-E ES System complements the Optare vehicle line-up."

Rob Del Core, director of business development energy storage systems, stated, "After months of exploratory and productive discussion, I am very excited that ISE and Optare have become strategic partners. Together we will bring this exciting technology to the next level."

ISE's Ultra-E ES System is one of the most advanced energy storage systems available on the market today. Included in the technology design is an intelligent battery management system that actively monitors each cell. The system is fully integrated with the following features:

Thermal management through active-liquid cooling
Pre-charge isolation management
High voltage and current sensing
Main contactors
System diagnostics and prognostics
Environmentally sealed to IP67 / IP6k9k specifications

This robust feature set enables ISE's Ultra-E ES Systems to interface with a range of high duty cycle applications around the world such as mining, heavy-duty trucking, rail, and smart grid energy/power management systems.

About Optare
Optare ([ www.optare.com ]) is one of the most respected names in the bus and coach industry. The company designs, manufactures and sells single deck and double deck buses and mini coaches and offers a comprehensive after sales service. Its buses operate in the UK and Continental Europe.

About ISE Limited
ISE Limited ([ www.isecorp.com ]) is a leading developer, manufacturer and distributor of Energy Storage Systems (ES Systems) and Heavy Duty Hybrid-Electric Drive Systems (Hybrid Systems). ISE products are developed based on our core proprietary technology, which focuses on three critical subsystems: energy storage, controls software, and power electronics. ISE specializes in series hybrid-electric and all-electric/zero emission technologies, and offers industry-leading ES Systems and Hybrid System components. Over the past 10 years, ISE has sold over 300 Hybrid Systems that have demonstrated reliability and performance in over 13 million miles of fleet operation.

Established in 1995, ISE is headquartered in San Diego, California. ISE's history of innovation and technological leadership has resulted in the design and development of systems and components that deliver superior operating performance. For more information visit [ www.isecorp.com ].

Caution Regarding Forward-Looking Statements
This press release contains forward-looking statements. All statements other than statements of historical fact contained in this press release are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expects," "plans," "project," "anticipates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only current predictions and are subject to known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from those anticipated by the forward-looking statements. Some of these factors are described in greater detail in the "Risk Factors" section of ISE's Prospectus dated February 11, 2010 filed on SEDAR, ISE's Annual Information Form for the year ended December 31, 2009 filed on SEDAR, and ISE's other filings with the Canadian securities regulatory authorities. These risks and uncertainties include, among others, risks associated with ISE's long and unpredictable sales cycle; risks associated with product liability and warranty claims and the safety of ISE's products; risks relating to ISE's need for additional capital; risks associated with variations in the size, type and timing of customer orders for ISE's products; risks associated with market acceptance and reliability of ISE's products; risks associated with entering into long-term contracts and contracts with governmental agencies; risks associated with the availability, level and terms of government subsidies and incentives; risks associated with customer concentration and ISE's dependence on a small number of suppliers and original equipment manufacturers ("OEMs"); risks associated with ISE's strategic relationships; risks associated with executing ISE's growth strategy in the United States and internationally and scaling up our manufacturing capacity; risks relating to the retention and recruitment of qualified personnel; risks resulting from competition with larger businesses with greater resources; risks associated with technological advancements in ISE's industry; and risks relating to the protection of ISE's intellectual property.

Although ISE believes that the expectations reflected in the forward-looking statements are reasonable, ISE cannot guarantee future results, levels of activity, performance or achievements. Except as required by law, ISE does not intend to update or revise any of the forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this press release.

Contributing Sources

Market Wire

N@N

ISE Signs Exclusive 5-Year Agreement With Optare UK Ltd to Supply Ultra-E Energy Storage Systems and Launches Production of Com