Millennium Cell Inc. (NASDAQ: MCEL), a hydrogen battery technology developer, announced its soldier power program has been allocated $1.7 million of funding in the fiscal year 2006 Defense Appropriations Bill.
The soldier power program is a joint effort with Protonex Technology Corporation which is funded by the U.S. Air Force and the U.S. Army. The defense bill funding will support the procurement of Protonex 30-watt portable soldier power systems (“P2”) for use in reliability and field testing to be conducted by the U.S. military throughout 2006. The Protonex P2 power system utilizes chemical hydride fuel cartridges with Millennium Cell’s Hydrogen on Demand technology which are integrated with Protonex’ advanced fuel cell technology. In addition to procurement funding, the budget allocation provides substantial funding for next-generation fuel cartridge system development. The main advantage provided by this technology is the ability to reduce the weight burden on soldiers who carry about 30 pounds of batteries for a 72-hour mission. The P2 system delivers a 60% weight reduction versus incumbent battery technologies at a lower cost. The next generation of technology development to be funded by this allocation will result in fuel cartridges that weigh significantly less than those in the P2 system.
Last fall, the U.S. Army joined the U.S. Air Force in supporting the development of the initial P2 units. The U.S. Army also awarded Millennium Cell a separate program to evaluate the ability to use non-potable water with Hydrogen on Demand technology. The ability to ship dry fuel cartridges and mix with water in the field would greatly increase the effective energy density of the P2 system and would also reduce the logistical burden on the military supply chain.
The initial P2 units are scheduled to be delivered to the U.S. Air Force in the first quarter of 2006. This funding increases the number of units that will enter reliability and field testing later in the year. Most recently, Northrop Grumman and Protonex publicly announced they have been selected by the Air Force to develop and test a system based on the P2, which will also feature advanced battery management and an intelligent power manager. This system will be used to power various targeting, communications and sensor equipment used by airmen on the battlefield.
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.
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