Millennium Cell CEO Talks About His Company

Aug.31.06 | About: Millennium Cell (MCEL)

Excerpt from The Wall Street Transcript's August 7th interview with Millenium Cell (MCEL) CEO H. David Ramm:

TWST: What is Millennium Cell?

Mr. Ramm: Millennium Cell is the hydrogen battery technology company. Our headquarters are in Eatontown, New Jersey. We have approximately 50 employees. We are focused in the area of providing, through hydrogen and fuel cell technology, a better battery for today's markets. We are focused on utilizing hydrogen that's stored in a chemical, and our chemical of choice is sodium borohydride. We have an extensive patent portfolio on proper ways to store hydrogen within that chemical and also significant intellectual property around how to release that hydrogen for proper use in a fuel cell. We are partnered with several fuel cell companies. We've publicly announced Protonex and Jadoo as partners. We have also publicly announced a partnership, which also involves an equity position, with Gecko Energy. Gecko is a fuel cell company focused on the development of small, inexpensive fuel cells that we are now housing with us in Eatontown, New Jersey. We are also partnered strategically with Dow Chemical (NYSE:DOW), and have enjoyed that relationship. They are an equity owner as well as a technical partner in our process. So the summary is that Millennium Cell is a publicly traded NASDAQ company that has historically developed technology in and around hydrogen storage, and over the past two years, has chosen to focus that technology on hydrogen batteries.

TWST: What are the key summary points that should compel investors to include MCEL not only as part of the current portfolios but also as part of their longer-term investment strategies?

Mr. Ramm: The number one thing that I would reflect on is the notion that batteries and portable power are very important parts of what we do as individuals, what corporations do, and what the military does. More and more people want to have effective portable power. Whether that means in slightly larger scale than what we might think about personally or whether it means a handheld electronic device, all of those things require us to have power available to provide energy to those applications or devices. When hydrogen batteries are compared on a cost and performance basis, they are a terrific solution for best-in-class energy density. So, from my perspective, the biggest thing that people should keep in mind is our tagline, which is that we are the hydrogen battery technology company. We have a leading position and a leading thought process there. We think that we will enjoy terrific penetration into a very large and important market.