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Millennium Cell Inc. (NASDAQ:MCEL) announced today that the
International Civil Aviation Organization ("ICAO") has created new
regulations that permit the transportation in carry-on baggage on
passenger aircraft of micro fuel cell systems which utilize fuel
cartridges including the sodium borohydride fuels being developed by
Millennium Cell to power electronic devices. Fuels covered include
fuel for HOD(TM) systems and next-generation Solid State HOD(TM)
systems. The Company expects these ICAO model regulations, which are
developed by international consensus, to become effective world-wide
by January of 2009.
Earlier this year the U.S. Department of Transportation ("DOT")
proposed similar regulations for the U.S. This international action
ensures harmonization of U.S. and international regulations, and
allows world-wide use of Millennium Cell's hydrogen batteries. These
new regulations require that fuel cell cartridges and systems conform
to design and performance standards issued by the International
Electrotechnical Commission.
"The authorization by the International Civil Aviation
Organization will support the use by air travelers of Hydrogen on
Demand(R) fuel cartridges in micro fuel cell powered electronic
devices," said Adam P. Briggs, Millennium Cell President. "This is an
important step towards providing consumers with significantly longer
runtime hydrogen batteries and will enable greater functionality,
convenience, and utility in portable electronics."
About Millennium Cell
Millennium Cell is a leader in the development of hydrogen battery
technology used to power portable applications. Through its
proprietary Hydrogen on Demand(R) fuel cartridges and PowerSkin(TM)
fuel cell modules, the Company provides increased energy density
resulting in longer runtime and lighter weight in a compact space. The
Company is working with market partners to meet the demand for a
better battery in the military, medical, industrial and consumer
electronics markets. For more information, visit
www.millenniumcell.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, 2006.
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