Medis Technologies Ltd. (NASDAQ:MDTL) said it has entered a "strategic program" with a top tier consumer electronics retailer with retail outlets throughout the United States, Canada and China.
Under this program, the retailer plans to showcase the Medis 24/7 Fuel Cell Power Pack in a limited number of its stores in the next few months, during which time the retailer will refine its marketing message for the product to prepare for a planned wider scale launch, according to a Medis Technologies release.
In addition the program calls for collaboration on future products involving Medis’ Fuel Cell Technology, including the 2nd generation Medis 24/7 Fuel Cell and other products based on the Medis Fuel Cell Technology platform. Further, under the strategic program, for so long as the retailer carries the Medis product and acts in good faith, Medis said it will not work with strategically or sell directly to certain other retail companies. The program also contemplates that the retailer will have the opportunity to take a position on Medis’ Advisory Board.
"We look forward to the opportunity to work closely with a world class Big Box retailer to showcase our 24/7 Power Pack and develop the marketing message as a way of introducing the product into the market," said Robert K. Lifton, Chairman & CEO of Medis Technologies.
About Medis Technologies
Medis Technologies’ primary focus is on its fuel cell technology. Its business strategy is to sell its products to end users through branded OEM partnerships, retail outlets, service providers and to the military and other markets.
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