Millennium Cell Signs Letter of Intent With Rohm and Haas Corp.
EATONTOWN, N.J.--(BUSINESS WIRE)--Dec. 12, 2000--Millennium Cell Inc. (NASDAQ-MCEL), developers of the patented Hydrogen on Demand(TM) hydrogen-generating technology, announced today that they have signed a letter of intent with Rohm and Haas Company (NYSE-ROH). This agreement will enable Millennium Cell and Rohm and Haas to cooperatively investigate more economical and efficient methods of manufacturing sodium borohydride (NaBH4), the fuel used in Millennium Cell's Hydrogen on Demand system.
Rohm and Haas is the world's largest manufacturer of sodium borohydride, a specialty chemical presently used in a variety of chemical industries including the pulp and paper industries, wastewater processing and pharmaceutical synthesis. Millennium Cell uses sodium borohydride as a fuel in batteries, fuel cells, micropower applications and transportation applications. The use of sodium borohydride in boron-based batteries and selected micropower applications is presently cost-competitive with other current technologies. The development of a more economical manufacturing method will make way for the cost-efficient use of sodium borohydride in a much broader range of both micropower and transportation applications. This includes the cost-efficient use of sodium borohydride in Millennium Cell's Hydrogen on Demand system to generate hydrogen for fuel cells.
Millennium Cell (www.millenniumcell.com) has invented, patented and developed a proprietary process called Hydrogen on Demand(TM) that safely generates pure hydrogen or electricity from environmentally friendly raw materials. In the process, the energy potential of hydrogen is carried in the chemical bonds of sodium borohydride, which in the presence of a catalyst releases hydrogen or produces electricity. The primary input components of the reaction are water and sodium borohydride, a derivative of borax, which is found in substantial natural reserves globally.
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