Millennium Cell Names Luzader V.P., Business Development, Transportation Sector.Business Editors EATONTOWN, NJ--(BUSINESS WIRE)--Nov. 6, 2000 Millennium Cell Inc. (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 :MCEL MCEL Model Coupling Executable Library ), which has developed a safe, clean, abundant and renewable hydrogen storage
Hydrogen storage is the main technological problem of a viable hydrogen economy. Some attention has been given to the role of hydrogen to provide grid energy storage for unpredictable energy sources, like system, announced today that Rex E. Luzader has joined the Company as Vice President--Business Development, Transportation Sector. Commenting on the appointment, Stephen S Stephen, 1097?–1154, king of England (1135–54). The son of Stephen, count of Blois and Chartres, and Adela, daughter of William I of England, he was brought up by his uncle, Henry I of England, who presented him with estates in England and France and . Tang, President and Chief Executive Officer of Millennium Cell noted, "Rex brings to our Company a unique and rich international business background in both sales and engineering. He has provided services to some of the most important global companies in the manufacture of transportation equipment. "Given that we anticipate that the world's major automotive, trucking and related industries represent a significant opportunity for our Company, we believe that Rex's addition to our management team puts us in an even more competitive position." Most recently, Mr. Luzader, 52 was Vice President Original Equipment Sales and Engineering and Corporate Strategy for Exide Corporation (EX-NYSE). He joined Exide in 1987 following the acquisition of General Battery Corporation by Excide and was responsible for various functions including sales to the transportation industry, project engineering, research and development and quality control. A graduate of General Motors Institute with a Bachelor of Science Noun 1. Bachelor of Science - a bachelor's degree in science BS, SB bachelor's degree, baccalaureate - an academic degree conferred on someone who has successfully completed undergraduate studies in mechanical engineering, Rex joined the Delco Remy division of GM in 1971, and joined General Battery Corporation on Reading, PA, in 1981. Rex also served as a member of the board of directors of Great Valley Bank in Reading. 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 Environmentally friendly, also referred to as nature friendly, is a term used to refer to goods and services considered to inflict minimal harm on the environment.[1] raw materials. In the process, the energy potential of hydrogen is carried in the chemical bonds of sodium borohydride Sodium borohydride, also known as sodium tetrahydroborate, has the chemical formula NaBH4. This white solid, usually encountered as a powder, is a specialty reducing agent used in the manufacture of pharmaceuticals and other organic and inorganic compounds. , 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 borax or sodium tetraborate decahydrate (sō`dēəm tĕ'trəbôr`āt dĕk'əhī`drāt), chemical compound, Na2B4O7·10H2O; sp. gr. 1. , which is found in substantial natural reserves globally. This press release may include statements which are not historical facts and are considered "forward-looking" within the meaning 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. These forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. reflect Millennium Cell's current views about future events and financial performance. These forward-looking statements are identified by their use of terms and phrases such as "believe," "expect," "plan," "anticipate" and similar expressions identifying forward-looking statements. Investors should not rely on forward-looking statements because they are subject to a variety of risks, uncertainties and other factors that could cause actual results to differ materially from Millennium Cell's expectations, and Millennium Cell expressly does not undertake any duty to update forward-looking statements. These factors include, but are not limited to, the following: (i) the cost and timing of development and market acceptance of Millennium Cell's fuel cell systems, (ii) competitive factors, such as price competition and new product introductions, (iii) the cost and availability of products, (iv) the cost of complying with current governmental regulations, and (v) other factors detailed from time to time in Millennium Cell's filings with the Securities and Exchange Commission. |
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