Medis Technologies in Program to Use its Proprietary Highly Electrically Conductive Polymer Technology in the Development of a Basic PEM Fuel Cell Component.Business Editors New York--(BUSINESS WIRE)--Jan. 31, 2002 Medis Technologies, Ltd. (MDTL MDTL Medis Technologies, Ltd (stock symbol) MDTL Montana Defense Trial Lawyers Association : NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on ) today announced that it has received an order from a U.S. company to develop a new application for the use of the Highly Electrically Conductive Polymers (HECP HECP Harbor Entrance Control Post HECP Hazardous Energy Control Procedure HECP Hullborne Gearbox & Propulsion Control Panel ) of Medis' subsidiary, More Energy Ltd. More Energy has agreed to develop a new application for its HECP for use in an important Proton Exchange Membrane A proton exchange membrane (PEM) is a semipermeable membrane generally made from ionomers and designed to conduct protons while being impermeable to gases such as oxygen or hydrogen. (PEM (Privacy Enhanced Mail) A standard for secure e-mail on the Internet. It supports encryption, digital signatures and digital certificates as well as both private and public key methods. Not widely used, work on PEM later evolved into S/MIME. See MIME. ) fuel cell component which could advance the development of PEM fuel cells for autos, homes and stationary power. The U.S. company has agreed to pay to More Energy $300,000 for this development effort. "We are very pleased with this opportunity to develop a new application for our unique HECP technology. We are hopeful that we will have more opportunities to develop additional applications for our HECPs in the future," said Robert K. Lifton, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Medis Technologies. Medis Technologies is involved in the development of highly advanced proprietary technology products primarily related to source of clean energy for the 21st Century. The Company's primary focus is on Direct Liquid Ethanol (Methanol) fuel cell technology. Its business strategy is to license, sell or joint venture with large international corporations. The Company's product pipeline, in varying stages of development, includes highly electrically conductive polymers, the toroidal engine and compressor, stirling cycle linear compressor and reciprocating electrical machines. The Company has also developed the CellScan with many applications relating to disease diagnostics and chemo sensitivity. This report may contain forward looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such forward looking statements involve risk and uncertainties, including, but not limited to, the successful completion of product development, the success of product tests, commercialization risks, availability of financing and results of financing efforts. Further information regarding these and other risks is described from time to time in the Company's filings with the SEC. |
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