Millennium Cell Inc. (NASDAQ: MCEL), a technology development company with a proprietary process to store, generate and deliver pure hydrogen, announced today that CEO Stephen S. Tang, Ph.D. will resign effective March 19.
Dr. Tang resigned to pursue other interests. David Ramm will serve as CEO and President until a permanent successor is selected.
Ramm is a principal of DKR Development, a renewable energy consulting and project development firm, and is a director of Millennium Cell. He was managing director of Enron Renewable Energy, and then President of Enron Wind Corp. Previous to that he was CEO of International Fuel Cells Corporation, a unit of United Technologies Corporation.
Dr. Tang said, "It has been an honor and privilege to have built and grown Millennium Cell for the past four years and see it through its initial public offering, two follow on financings and its early technology and commercialization challenges. I am particularly proud of the Hydrogen on Demand(TM) process that has been developed by Millennium Cell and being applied to standby power, military portable, consumer electronic and transportation applications."
Founded in 1998, Millennium Cell is based in Eatontown, N.J. and has developed a multi-faceted patent portfolio, which Millennium Cell is pursuing in the U.S. and internationally surrounding a proprietary process called Hydrogen on Demand(TM).
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