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| [December 07, 2004] |
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Medis Technologies Announces Delivery of Advanced Fuel Cell Power Packs to General Dynamics for Testing
NEW YORK --(Business Wire)-- Dec. 7, 2004 -- Medis Technologies Ltd. (NASDAQ: MDTL) ("Medis") announced that yesterday it made available functional prototype fuel cell Power Packs and fuel cartridges to General Dynamics C4 Systems, a business unit of General Dynamics (NYSE:GD) for testing in connection with an advanced, rugged personal digital assistant (PDA) being developed for the U.S. Department of Defense. Each Medis Power Pack is currently capable of delivering five watts and five volts of continuous power. The Medis technical team will work closely with General Dynamics to evaluate the ability of the Power Packs and cartridges to meet extended mission requirements and military environmental specifications. Medis will incorporate product enhancements in future designs. One of the program objectives is to successfully demonstrate that one Power Pack with six cartridges can provide the power density necessary to sustain a typical seventy-two hour mission for special operations forces. It is anticipated that the testing program could take up to nine months.
"We are pleased to be able to provide these prototype fuel cell Power Pack products to General Dynamics to start the testing process," said Robert K. Lifton, Chairman and CEO of Medis Technologies. "We congratulate our technical team for the level of performance achieved by these prototypes. To our knowledge, the delivery of five watts and five volts demonstrates far greater power capability - both power density and energy capacity - than any existing micro fuel cell technology in the world. In late February 2005 we plan to start presenting our disposable Power Pack products for the commercial market to our potential customers, including our distributors, certain mobile operators and Original Equipment Manufacturers for demonstration and testing of those products."
Medis Technologies is involved in the development of highly advanced proprietary technology products primarily related to sources of clean energy for the 21st Century. Medis' primary focus is on direct liquid fuel cell technology. Its business strategy is to license or sell its technologies to, or enter into joint ventures with, large international corporations or sell its products to end users through retail outlets and service providers. In addition to its fuel cell technology, Medis' product pipeline, in varying stages of development, includes inherently conductive polymers, the toroidal engine and compressor and stirling cycle system. Medis has also developed the CellScan with many potential applications relating to disease diagnostics and chemo sensitivity.
This press release may contain forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act 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.
This press release is available on Medis' web site at www.medistechnologies.com.
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