Medis Technologies Ltd. (NASDAQ: MDTL) announced it has contracted with a top tier electronic manufacturer service firm to begin a commercialization program leading to high volume production of its Power Pack products.
The program is divided into phases with the deliverables under the first phase to include mold flow analysis, volume manufacturing and test strategies, new product introduction plan, tooling phase proposal, and a low volume manufacturing proposal. The primary EMS point of contact initially will be its division in Israel supported by its world-wide resources. As Medis builds out its own operational team in North America, the EMS will match that with resources in appropriate locations. Moreover, as Medis' major OEM customers begin to engage in integrating Medis' fuel cell technology with PDA, tablet or military products, the EMS will provide resources from each of its operational centers specializing in such products to support Medis in these efforts.
"We are delighted to enter this foundation relationship with Flextronics International to lead to volume production of our Power Pack products," said Robert K. Lifton, Chairman and CEO of Medis Technologies. "They are acknowledged to be the world leader in contract manufacturing and offer us production know how and experience at the highest levels available in international commerce. Particularly valuable to us is the fact that they have a major group in Israel that is able to work closely with Medis' team located in Israel."
Medis' primary focus is on direct liquid fuel cell technology. Its business strategy is to license or sell its technologies to, or enter into joint ventures with, large international corporations or sell its products to end users through retail outlets and service providers. In addition to its fuel cell technology, Medis' product pipeline, in varying stages of development, includes inherently conductive polymers, the toroidal engine and compressor and stirling cycle system. Medis has also developed the CellScan with many potential applications relating to disease diagnostics and chemo sensitivity.
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