ENERGY TECHNOLOGIES LIMITED — Capital/Financing Update 2009

Sep 1, 2009

Australian Stock Exchange Company announcements platform 2[nd] September, 2009

==> picture [121 x 82] intentionally omitted <==

Dulhunty Power Ltd ABN 38 002 679 469

Market Announcement – Dulhunty Poles Pty Ltd a new company formed to manufacture power poles under license.

As indicated in previous announcements, Dulhunty Power Limited (DUL) confirms that it has incorporated a new Australian company, Dulhunty Poles Pty Ltd, to manufacture Titan Power Poles using technology licensed from CMT Worldwide of Atlanta, USA. The new company will initially be partly owned by DUL, with DUL Board presence and a strong management contract to provide sales and administration support.

Exclusive rights to the use of the patented CMT technology in Australia and New Zealand remain the property of DUL but have been extended to the new company in the form of a sub license.

Together with the contribution from DUL, an additional $1,840,000 of capital for the new company has been raised by offer under a Subscription Deed Poll to sophisticated investors. Under the terms of the Subscription Deed partly paid shares in Dulhunty Poles Pty Ltd will be issued to each investor with a stapled debenture attached, and funds will be paid in three tranches until the shares are fully paid on 30 June 2010. Directors of DUL have participated in this investment. Full capitalization of Dulhunty Poles Pty Ltd will be $3.61m and DUL will have an initial shareholding of 39.8%. As additional production facilities are required to satisfy demand for poles Australia wide, additional capital raisings may be implemented.

A series of put and call options to be exercised in July 2012 will ensure that DUL will at that time move to either full or majority shareholding in the company. Under ASX Listing Rule 10.1 or 10.11 it is expected that shareholder approval will be required at that time for transactions involving Directors.

Dulhunty Poles Pty Ltd will occupy a new purpose built building in Geelong, Victoria and production is expected to commence in the March quarter of 2010. The operation will be managed by Mr. Charles Ellicott who has had long experience in the electrical industry with an emphasis on cable design and installation. Equipment for pole production will be partly funded by application of the GIIF grant funds awarded to DUL under arrangements with the Department of Innovation Industry, Science and Research and the Government of Victoria.

The Titan Pole represents the first completely new pole product introduced in the world in over 15 years. Composite Materials Technology and CMT Worldwide have invested 10 years in developing this patented ground breaking product. Utilizing Owen Corning Technical Fabrics Alkali Resistant Rovings and high performance cement matrix, Titan delivers a superior cost competitive advantage, lower shipping costs and better performance over the life of the product. An important advantage in the Australian context is that the pole is non flammable and is not adversely affected by sustained exposure to temperatures of 1900 deg C.

Other advantages include no propensity for rot, rust or attack by termites. The pole exhibits the lowest carbon footprint of all pole types used in Australia as well as being electrically non conductive and with a low whole of life cost is disposable without environmental effect at the end of its life.

Directors of Dulhunty Poles Pty Ltd are:

• Martin Thomas* (Chairman)

• Philip Dulhunty*

• • Anthony Wingrove*(Managing Director) • Gary Ferguson

• *also Directors of DUL

_________________ For further information please contact:

Mr. Tony Wingrove Managing director Dulhunty Power Ltd (613) 9663 5776

Mr. Greg Knoke Company Secretary Dulhunty Power Ltd (612) 9870 7277

website: www.dulhuntypower.com

About Dulhunty Power Ltd.

Dulhunty Power Ltd is a global supplier of construction components to the electricity transmission and distribution sector with design facilities in Australia, China and Thailand supported by manufacturing plants in those countries and Malaysia, together with sales and distribution facilities in Hong Kong and USA. New Zealand is serviced by a distribution partner and the international sales office in Auckland.

The company is focused on growth by acquisition and development of companies and technologies that service the electricity supply industry. Group employment totals approximately150.

Dulhunty Power Ltd provides its services through 2 divisions:

Dulhunty Engineering: designs, manufactures and distributes transmission and distribution products for the electricity industry to customers in Europe, Asia, Africa, North America and Australasia.

Cogenic: designs and manufactures low emission, high efficiency generators