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Millennium Cell Reports Q1 Results

Millennium Cell Inc. (NASDAQ: MCEL), a technology development company that has created a proprietary technology to safely store, generate and deliver pure hydrogen, today reported a net loss for the quarter ended March 31, 2004 of $3.4 million, or 10 cents per share as compared to $4.7 million or 16 cents per share in the same period of 2003. The reduction in net loss from 2003 is a direct result of cost containment activities and the favorable impact of MCEL's program with the U.S. Department of Energy for the funding of research in hydrogen technology. "We reached an important milestone this quarter with the successful kick-off of our first major U.S. Government funded program," said H. David Ramm, Millennium Cell Interim President and CEO. "With the addition of the Air Force award through our partner Protonex, we expect to see a meaningful reduction of operating expenses through the remainder of this year while continuing a steady pace of technology development." "We are focused on the development of Hydrogen on Demand" product platforms for standby power, portable power and consumer electronics applications. We intend to partner with leaders in the fuel cell, chemical and industrial gas industries to develop competitive product […]

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Connecticut: First State to Commit to 100% Renewables!

In an unprecedented move, Governor John Rowland signed Executive Order 32 which commits the State of Connecticut to running all state government buildings on 100% renewable energy by 2050. Connecticut will purchase 20% renewable energy for the state government's total electricity needs by the year 2010 and 50% by 2020. "The quickest path to cleaner air and reducing America's dependence on foreign oil is to increase demand for non-polluting electric power made from cleaner, renewable sources such as wind, solar, and fuel cell power," said Governor Rowland. "With my order today, we can begin to clean our air, improve the health of our children and ensure our long-term energy security." Connecticut's voluntary purchase of 20 percent by 2010 is the first in New England and among the most aggressive in the nation. Its commitment to 100% is the first such commitment in the nation. The purchase of clean power for state buildings, colleges and universities was an issue promoted by Connecticut-based SmartPower, a non-profit marketing campaign dedicated to promoting clean, renewable energy and supported by the Governor's Steering Committee on Climate Change, which formally recommended the proposal to the Governor last month. New England was the first region to tackle […]

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Legal Sea Foods Launches Advocacy Campaign for Alaska Wild Salmon

Restaurateur Roger Berkowitz Commits to Disclosing Origin of All Salmon; Aims to More Than Double Use of Wild Salmon from Alaska. Legal Sea Foods, Inc., a seafood restaurant chain, announced it is launching an educational initiative on the benefits of wild salmon vs. farmed salmon. The company is the first national seafood purveyor to brand Alaska Wild Salmon as its salmon of choice. The campaign will include advertising and consumer information programs in East Coast markets from Boston to Florida. The advertising campaign, including television, radio, and print, will break next month starting in Washington DC. Said Legal Sea Foods President and CEO Roger Berkowitz, "Wild salmon is healthy, environmentally sustainable, and it has superior flavor. We believe we are the first major restaurant company in America to commit to specifying the origin of our salmon on our menu and through our servers. We also plan to introduce a seal of authenticity that will accompany each serving of Alaska Wild Salmon in all 30 of our restaurants." He noted that ensuring a steady supply of wild salmon from Alaska has historically been a challenge because of the decentralized nature of the Alaska fishing industry. "Now, thanks to new direct relationships […]

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California Legislation to Establish a Biodiesel/CO2 Label Progresses

The Law Would Be The World's First Government Program To Establish Market Incentives for Lower CO2 Fuels. A biofuels bill (AB 2899, Assembly Member Shirley Horton) is the first bill in the world that would establish a government approved labeling program for identifying "lower CO2" fuels at the fuel pump. The bill passed through the main policy Committee in the California Assembly. The use of market-based incentive mechanisms like a consumer label at the pump can help the USA start to reduce CO2 and other greenhouse gases. The EU Directive will insure that an even greater percentage of their liquid fuels come from biofuels (ethanol or biodiesel) which will require that 2% of petroleum contain biofuels in 2005, rising by 3/4% per year to 20% by 2020. This is projected to increase demand to 5 million metric tons by 2006 and 15 million metric tons by 2010 (about 4 billion gallons). According to studies done by the US Dept. of Energy, biodiesel leads to a 78% life-cycle reduction in CO2 emissions. Its use by vehicles and industry can greatly diminish the amount of greenhouse gases emitted while also reducing air pollution. Website: http://www.GreenStarUSA.com     

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Ford & BP to Build Hydrogen Fleets & Fueling Stations in California, Florida, & Michigan

As part of the U.S. Department of Energy hydrogen project, Ford Motor Company and BP plc are announcing an hydrogen initiative. Ford will supply 30 Ford Focus Fuel Cell vehicles, and BP will build a network of fueling stations to support them, in metropolitan Sacramento, Orlando, and Detroit. The proposed fleets and fueling stations are in response to the U.S. Department of Energy's solicitation, entitled "Controlled Hydrogen Fleet and Infrastructure Demonstration and Validation Project." Ford will assemble the vehicles beginning in the fourth quarter of 2004, depending on the timing of successful contract negotiations with the U.S. DOE and various state and local entities. The Ford Focus FCV is one of the industry's first hybridized fuel cell vehicles combining the improved range and performance of hybrid technology with the overall benefits of a fuel cell. The Ford Focus FCV uses an 85kW fuel cell stack supplied by Ballard Power Systems, a world leader in proton exchange membrane (PEM) technology. The FCV is hybridized with the addition of a nickel metal-hydride battery pack and a brake-by-wire electro-hydraulic series regenerative braking system. BP plans to install a network of stations demonstrating state-of-the art fueling technologies to support the hydrogen fuel cell vehicles. […]

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