Shares of Millennium Cell Inc. (NASDAQ: MCEL) jumped 21 percent in pre-market trading on Tuesday after the company announced the delivery of a five (5) kW Hydrogen on Demand system for testing at the U.S. Department of Defense (DoD) Fuel Cell Test and Evaluation Center operated by Concurrent Technologies Corporation (CTC). These systems were designed and developed under Millennium Cell’s subcontract from CTC announced on October 8, 2004.
Under this program, the DoD has contracted with CTC to develop Common Core Power Production (C2P2) technology for the Air Force’s Advanced Power Technology Office by using fuel cell systems as interchangeable power sources for military equipment. The systems developed by Millennium Cell under this award are designed to mix solid fuel pellets (chemical hydrides) into a fuel solution to produce hydrogen on demand to power fuel cells for military and industrial applications. Millennium Cell’s solid fuel technology provides a robust hydrogen energy system with unlimited shelf life and simple re-fueling.
“With this program, we are able to broaden the application of our scalable technology,” commented Adam Briggs, Millennium Cell Senior Vice President.
Concurrent Technologies Corporation (CTC) is an independent, nonprofit, applied research and development professional services organization providing management and technology-based solutions to a wide array of clients representing state and federal government as well as the private sector. Established in 1988, CTC operates from more than 35 locations with a staff of over 1,300 employees. www.ctc.com.
The Fuel Cell Test and Evaluation Center (FCTec) is operated by Concurrent Technologies Corporation (CTC) for the U.S. Army Corp of Engineers’ Engineer Research and Development Center/Construction and Engineering Research Laboratory (ERDC/CERL). The FCTec is a national resource facility for the independent, unbiased testing and validation of fuel cell systems for both military and commercial applications. www.fctec.com.
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