News Release
Millennium Cell and Gecko Energy Technologies to Demonstrate Fuel Cell Powered Wireless Camera at Homeland Defense Conference
EATONTOWN, N.J., Sep 18, 2006 (BUSINESS WIRE) -- Millennium Cell Inc. (NASDAQ: MCEL), a leading developer of hydrogen battery technology, today announced that Millennium Cell and Gecko Energy Technologies, an affiliate of the Company, have developed a fuel cell powered wireless camera prototype system with infrared sensing and audio capability. This is the first integration of Millennium Cell's Hydrogen on Demand(R) sodium borohydride fuel technology and Gecko's PowerSkin(TM) fuel cell technology into a hydrogen battery. The integrated hydrogen battery demonstrates the potential for fuel cells in low power, long run-time devices. This piece of equipment fits a critical need in homeland security and defense applications for longer lasting power sources for wireless sensors and networks, remote surveillance equipment and portable device recharging applications.
The device will be shown today alongside other solutions under development by the Company's licensees at the Homeland Defense Conference sponsored by InSitech at the U.S. Army's Picatinny Arsenal ("Picatinny") in Morris County, NJ. Picatinny is home to the U.S. Army's Armament Research, Development and Engineering Center, ("ARDEC") whose mission is to provide research, product development and full life cycle engineering for ammunition, weapons, fire control, systems, explosives, propellants, and pollution prevention technology.
Adam Briggs, Millennium Cell's President stated, "We have made substantial progress in our product development efforts with Gecko There is growing demand for better power sources in many markets including homeland security and defense and we intend to continue our work with Gecko in addressing these needs."
Ronald Kelley, President of Gecko commented, "This is our first opportunity to exhibit our technology to decision makers in the military and homeland security. Our efforts with Millennium Cell have enabled us to broaden the applications for our technology and expand our potential market reach."
About Millennium Cell
Millennium Cell develops hydrogen battery technology through a patented chemical process that safely stores and delivers hydrogen energy to power portable devices. The borohydride-based technology can be scaled to fit any application requiring high energy density for a long run time in a compact space. The Company is working with market partners to meet demand for its patented process in four areas: military, medical, industrial and consumer electronics. For more information, visit http://millenniumcell.com.
About Gecko Energy Technologies
Gecko Energy Technologies creates new ways to power personal electronics that give device makers unprecedented design freedom. Gecko's PowerSkin(TM) technology helps product developers strike the ideal balance between power-supply performance and customer-enticing design. Gecko enables its clients to innovate highly mobile devices that are energy economical and aesthetically delightful. For more information, visit www.geckoenergy.com.
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. Forward-looking statements are identified by their use of terms and phrases such as "believe," "expect," "plan," "anticipate," "on target" and similar expressions identifying forward-looking statements. 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 following: (i) the cost and timing of development and market acceptance of Millennium Cell's hydrogen fuel storage and delivery system; (ii) the cost and commercial availability of the quantities of raw materials required by the hydrogen fuel storage and delivery systems; (iii) competition from current, improving and alternative power technologies; (iv) Millennium Cell's ability to raise capital at the times, in the amounts and at the costs and terms that are acceptable to fund the development and commercialization of its hydrogen fuel storage and delivery system and its business plan; (v) Millennium Cell's ability to protect its intellectual property; (vi) Millennium Cell's ability to achieve budgeted revenue and expense amounts; (vii) Millennium Cell's ability to generate revenues from the sale or license of, or provision of services related to, its technology; (viii) Millennium Cell's ability to form strategic alliances or partnerships to help promote our technology and achieve market acceptance; (ix) Millennium Cell's ability to generate design, engineering or management services revenue opportunities in the hydrogen generation or fuel cell markets; (x) Millennium Cell's ability to secure government funding of its research and development and technology demonstration projects; and (xi) other factors discussed under the caption "Investment Considerations" in Millennium Cell's Annual Report on Form 10-K for the year ended December 31, 2005.
SOURCE: Millennium Cell Inc.
BMS Value Partners
Betsy Brod, 212-750-5800
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