Protonex and Millennium Cell Deliver ‘Industry First’ to U.S. Air Force
Southborough, MA and Eatontown, NJ--March 9, 2005-- Protonex Technology Corporation, a manufacturer of high performance fuel cell power sources for portable and remote applications, and Millennium Cell Inc. (NASDAQ: MCEL), a leading developer of hydrogen energy systems, announced that they have delivered to the U.S. Air Force the industry’s first fully-integrated 30 Watt portable fuel cell power system fueled by chemical hydride cartridges.
Southborough, MA and Eatontown, NJ (PRWEB) March 9, 2005 -- Protonex
Technology Corporation, a manufacturer of high performance fuel cell power
sources for portable and remote applications, and Millennium Cell Inc. (NASDAQ:
MCEL), a leading developer of hydrogen energy systems, announced that they have
delivered to the U.S. Air Force the industry’s first fully-integrated 30 Watt
portable fuel cell power system fueled by chemical hydride cartridges.
This portable power system, (referred to as P1), is the first
deliverable under a previously announced U.S. Air Force Research Laboratory,
Dual Use Science and Technology (DUST) contract awarded to Protonex. The system
integrates Millennium Cell’s hydrogen energy system into Protonex’s PEM fuel
cell platform to provide a fuel cell power source for soldiers on extended field
missions.
"The delivery of P1 midway through the DUST program represents
a significant milestone in the development of soldier power systems,” said Thom
Reitz, Research Leader, Fuel Cells for the Air Force Research Lab. “The Air
Force is very interested in evaluating this system as a means for significantly
reducing the overall power system weight burden carried by the war fighter. We
are looking forward to testing P1 and providing feedback to advance the
technology to the next readiness level for the final deliverable due later in
2005.”
The P1 unit represents a substantial improvement in energy density
and cost over the batteries currently used by the U.S. Military. Today, to
fulfill the requirement for 30 Watts of continuous power for a 72-hour mission,
soldiers carry 13 primary batteries weighing over 29 pounds. The P1 system is
capable of meeting these power requirements at less than 50% of the weight
(including fuel cell platform and snap-in fuel cartridges).
“Protonex and
Millennium Cell are delighted to deliver a superior power solution to the U.S.
Air Force that provides both performance and cost advantages over incumbent
battery technology,” said Scott Pearson, CEO, Protonex. “The P1 units clearly
demonstrate the value and utility of our fuel cell systems for portable military
applications and keep us on the path for potential deployment.”
”This is
an important milestone for both companies,” commented Adam Briggs, Senior Vice
President, Millennium Cell. “Later in 2005, we expect to deliver a next
generation system to the Air Force that will further reduce the weight of the
power system with its cartridges to less than 10 pounds. The benefits of this
power solution will also be attractive in many other military and commercial
markets that need reliable, long lasting sources of energy.”
About
Protonex Technology Corporation
Established in 2000, Protonex manufactures
long duration, portable and remote power sources. Protonex provides complete
power solutions to OEM customers for portable and remote off-grid applications
underserved by existing battery, generator, solar and other power technologies.
The company’s innovative fuel cell products complement existing power
technologies and are utilized in hybrid designs for customer applications in the
10 to 500 Watt power range. For more information, visit http://www.protonex.com.
About Millennium
Cell
Millennium Cell Inc. is engaged in the development of next generation
hydrogen energy systems for use primarily in portable electronic devices for the
consumer, medical, military and industrial markets. These energy systems offer
runtime, weight, safety and cost advantages in an attractive form factor versus
existing solutions. Millennium Cell is developing this technology in partnership
with corporate and government entities. For more information, visit http://millenniumcell.com.
Millennium Cell Cautionary
Note Regarding Forward-looking Statements:
This press release may include
statements that are not historical facts and are considered” forward-looking”
within the meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements reflect Millennium Cell’s current views about
future events and financial performance and are subject to risks. Investors
should not rely on forward-looking statements because they are subject to a
variety of risks, uncertainties and other factors, many of which are outside of
our control, that could cause actual results to differ materially from
Millennium Cell’s expectations, and Millennium Cell expressly does not undertake
any duty to update forward-looking statements. These factors include, but are
not limited to, the cost and timing of development of Millennium Cell’s hydrogen
fuel storage and delivery system; the cost and commercial availability of the
quantities of raw materials required by the hydrogen fuel storage and delivery
systems; and other factors discussed under the caption “Investment
Considerations” in Millennium Cell’s Annual Report on Form 10 K for the year
ended December 31, 2003.
# # #
Source : http://www.prweb.com/releases/2005/3/prweb215943.htm