21.9.2006: Meldung: Millennium Cell Awarded U.S. Navy Contract

Millennium Cell Inc., a leading developer of hydrogen battery technology, today announced that it has been awarded a Phase I Small Business Innovation Research Program ("SBIR") contract by the U.S. Navy. Under this six month program, the Company will develop a novel, safe, high energy density hydrogen storage system for use in small, portable fuel cell based power sources suitable for a variety of military applications.

The enhancements proposed under this program should result in a Hydrogen on Demand® system with more energy storage capability than previously demonstrated with a solid fuel composition that has infinite shelf life. We expect that the technology resulting from this program will deliver up to four times the energy density of military batteries in use today and will be made available to our licensees for implementation into future products.

"We are very pleased to have the opportunity to develop the next generation of our Hydrogen on Demand technology for the U.S. military. Together with our partners, we now have several research and product development programs underway with the U.S. Army, Air Force, Special Operations Command, and now the Navy to develop products which use our Hydrogen on Demand system," commented H. David Ramm, Millennium Cell Chief Executive Officer. "As our licensees" products mature towards procurement by military and commercial customers, we look forward to supporting them with continuously improving hydrogen storage technology."

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 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, 2005.


Contact:

Brod Group, LLC
Betsy Brod, 212-750-5800

Source: Millennium Cell Inc.
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