Millennium Cell Inc (fka MCELQ)

[Golden Cross]

Millenium Cell Gets Air Force Order
Wednesday October 18, 10:26 am ET
Millenium Cell Receives Air Force Order Worth Up to $4M for Hydrogen Battery Technology


EATONTOWN, N.J. (AP) -- Millennium Cell Inc., a developer of hydrogen battery technology, on Wednesday said it has received a $500,000 task order from the Air Force Research Laboratory to develop new fuel cartridge technology.
The initial task order is part of a potential five-year delivery order worth up to $4 million, if fully used by the military.

The contract supports Millennium's development of sodium borohydride-based fuel cartridge technology, to be used with the Protonex 30-watt soldier power system -- a fuel cell battery that is meant to replace the military's traditional battery packs. The battery would replace those currently used in laser designators, military radios and other equipment.

Shares of Millennium Cell rose 9 cents, or 8.1 percent, to $1.17 in morning trading on the Nasdaq. The stock has traded between $1 and $2.05 over the past 52 weeks.