Millennium Cell Inc. (NASDAQ: MCEL), a leading developer of hydrogen battery technology, today received confirmation of an award for a test market of its LED light and device charger. The award is part of phase II of the Greater Columbia Fuel Cell Challenge, sponsored by the USC Columbia Fuel Cell Collaborative, to perform a market test of an LED light and device charger, designed and manufactured by Millennium Cell. Gecko Energy Technologies, Inc., a subsidiary of Millennium Cell, will market test the product, which uses Millennium Cell’s PowerSkin™ fuel cells and Hydrogen on Demand® fuel system to provide long lasting power to small, portable lighting and to simultaneously charge portable devices like cell phones and PDA’s. The design of this particular product concept was the result of extensive market research, including product concept validation at the Governor’s Hurricane Conference in Florida in 2007 and numerous discussions with key first responders and emergency power product distributors.
Millennium Cell will establish operations for this market test at the University of South Carolina’s technology incubator and will eventually transition into Innovista and evaluation will be conducted with assistance from the City of Columbia, USC School of Business and Greenway Energy LLC. Gecko’s long-term opportunities involve establishing manufacturing operations, product roll-out and workforce expansion in South Carolina to develop and manufacture PowerSkin™ fuel cell products. This effort will involve cooperation from several South Carolina agencies, including the South Carolina Manufacturing Extension Partnership, the South Carolina Research Authority (SCRA), Central SC Alliance and the University of South Carolina as it is a key step towards the commercialization of PowerSkin™ fuel cell based products. Gecko will use the data collected from the testing as basis for launching its product in 2009. Initially, Gecko will employ several employees in Columbia, S.C. with potential for future job growth as manufacturing and production expand.
“We are very pleased to establish a base of operations for the commercialization of Gecko products in Columbia and to receive support from the city and a number of South Carolina agencies to conduct this market test,” said Adam Briggs, president of Millennium Cell. He further explained, “The State of South Carolina has been visionary in its support for development and launch of hydrogen fuel cell products through their commitment to developing a knowledge based economy state wide. We are excited to get the opportunity to work with first responders and other emergency workers and to get their views on how best to serve these markets with our technology.”
Dr. Harris Pastides, vice president for research and health sciences at the University of South Carolina, expressed how this project is a great opportunity for South Carolina’s growing hydrogen economy. “Millennium Cell had an opportunity to grow their business anywhere in the country,” said Pastides. “They chose Innovista and Columbia because we have a critical mass of scientific talent and an outstanding partnership between the University, the city and our counties, EngenuitySC, SC Launch and other partners. My hope is that one day South Carolina will be home to the nation's hydrogen economy and that this small step forward will be looked at as a most memorable event.”
Bill Mahoney, SCRA CEO and member of the Greater Columbia Fuel Cell Challenge executive committee, echoed support of this project. "This project demonstrates how successful partnerships among South Carolina's research universities, local stakeholders and private industry can create positive outcomes in growing our state's knowledge economy. We are happy to be able to support Millennium Cell and Gecko both in executing this project and in facilitating their future business operations here in South Carolina.”
“Our City is pleased to continue our leadership in the establishment of a knowledge based economy through hydrogen fuel cells,” said Robert Coble, Mayor of Columbia. “Millennium Cell is a recognized leader in the portable fuel cell arena, and we are excited to help them in their efforts to expand their Gecko subsidiary in South Carolina and commercialize fuel cell products, which not only will bring exciting new products to our citizens but future job growth as well.”
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® fuel cartridges and PowerSkin™ 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.
About the USC Columbia Fuel Cell Collaborative:
The University of South Carolina – City of Columbia Fuel Cell Collaborative was formed by the University of South Carolina, the City of Columbia, EngenuitySC and the South Carolina Research Authority to position Columbia, SC as a leader in hydrogen fuel cell innovation and technology. Its mission is to attract private sector partners, top fuel cell scientists, entrepreneurs and innovators to the Columbia region; as well as to collaborate with private sector leaders from all areas of the fuel cell market for the unprecedented deployment of fuel cell and other alternative energy technologies into multiple city, university and commercial applications throughout the region