Hat Trick!
Millennium Cell scores a triple crown!

Wow! Things change fast, but not usually as fast as they have been lately over at Millennium Cell. They've had quite the month! It all began a few weeks ago when they got $1.7M from the 2006 Defense Appropriations Bill for their Protonex 30-watt portable soldier power systems (P2), and their now famous Hydrogen on Demand® systems.

Then late last week Millennium entered into a strategic development and licensing agreement with Jadoo Power Systems Inc (you may remember I was gushing about Jadoo's new camera Fuel Cells just before the CES show in Las Vegas). Focused primarily on the professional broadcast and law enforcement markets* for the past two years, Jadoo recently announced a move into such new markets as first responders and portable office users. The agreement will grant Jadoo the rights to design, manufacture and sell products using Millennium Cell's technology for their targeted markets. The Millennium Cell Hydrogen on Demand® technology will provide Jadoo with a high energy density, safe and cost-effective fuel cartridge to complement their existing fuel cell power units. "We have been selling one of the lowest cost fuel cell solutions in the market - around $1000 - for over two years now," said Larry Bawden, President and CEO, Jadoo Power. "Millennium Cell's technology will allow us to provide a lighter, longer runtime option for our current products and will allow us to continue to pursue and dominate new markets".

Then to make matters better, they made another announcement today! It turns out that Protonex Technology Corporation, a fuel cell supplier and existing licensee in the military market, has exercised its option to license Millennium Cell's Hydrogen on Demand® technology for industrial and medical markets. Protonex was involved with the P2, and again in a Swords to Plowshares move they are forging ahead in more civilian arenas. As Scott Pearson, Protonex CEO said; "We are pleased to now be able to offer industrial and medical customers the same innovative power system technology that can deliver more power in a smaller, lighter package than many batteries in use today for those markets."

It certainly looks like Millennium Cells will be a major player in the hydrogen economy!


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*it should be no surprise that Jadoo is involved with both TV production and Law Enforcement, seeing how Jadoo is financed by Mohr Davidow Ventures, Venrock Associates and Sinclair Ventures, a wholly owned subsidiary of Sinclair Broadcast Group, Inc