19.3.2003: Meldung: Millennium Cell Receives Patent
"We are very pleased to announce the award of this patent, "said Dr. Stephen S. Tang, Millennium Cell President and CEO. "It forms the foundation of our intellectual property portfolio and supports the commercial development of our Hydrogen on Demandä system."
Last month, the company was awarded Patent No.6,524,542 for a process for synthesizing borohydride compounds with reduced energy requirements.
"The synthesis patent granted last month recognized the strides we are making in this critical area of research," added Dr. Tang, "and provides a basis for new paths to the production and recycling of sodium borohydride. Such advances are necessary for sodium borohydride fuel to reach full marketability, and we are pleased to be making steady progress in this area. We remain committed to the growth and protection of our intellectual property assets."
Millennium Cell currently holds 14 patents in the U.S. and abroad and has pending applications for 41 more, in the areas of hydrogen generation, catalyst development and borohydride synthesis.
About Millennium Cell
Founded in 1998, Millennium Cell is based in Eatontown, NJ and has developed a multi-faceted patent portfolio, which the Company is pursuing in the United States and internationally surrounding a proprietary process called Hydrogen on Demandä. The Hydrogen on Demandä system safely generates pure hydrogen from environmentally friendly raw materials. In the process, the energy potential of hydrogen is carried in the chemical bonds of sodium borohydride, which in the presence of a catalyst releases hydrogen. The primary input components of the reaction are water and sodium borohydride, a derivative of borax. Borax is found in substantial natural reserves globally. Hydrogen from this system can be used to power fuel cells or fed directly to internal combustion engines. Millennium Cell also has a patented design for boron-based longer-life batteries. For more information visit www.millenniumcell.com or call 866-532-2783.
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. These 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 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) our 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 our hydrogen fuel storage and delivery system, (v) our ability to protect our intellectual property, (vi) our ability to achieve budgeted revenue and expense amounts and (vii) other factors detailed from time to time in Millennium Cell"s filings with the Securities and Exchange Commission.