Medis Technologies Ltd. Ships 100 Fuel Cell Power Packs to Celestica for Testing24 February 2006
Medis Technologies Ltd. (NASDAQ:MDTL) announced today that, consistent with its testing program for its fuel cell Power Pack products, it has shipped 100 Power Pack products made on its semi-automated production line in Israel to its contract manufacturer Celestica, for rigorous testing at Celestica's advanced testing facility in Valencia, Spain.
"Together with the shipment of 200 Power Packs to General Dynamics announced on January 31st, this makes a total of 300 Power Pack products now in testing programs," said Robert K. Lifton, Chairman and CEO of Medis Technologies. "Our objective is to push these products to their maximum capabilities to be sure they meet the standards and specifications we have set for them. Once we are fully satisfied with these test results, we will start testing Power Packs using the protocols presented to us by Underwriters Laboratories and other certifying agencies. Our plan is to be in a position in the second quarter of this year to present thousands of Power Packs produced on our semi-automated line in Israel to customers and potential customers for their use. Through this trial program, we hope to create sufficient demand to warrant our undertaking development of additional fully automated production lines like the one now being produced for us by Ismeca and planned for operation in Ireland by Celestica. We also have programs in place for delivering thousands of Power Packs from our semi-automated line in Israel to distributors to be placed in selected retail outlets in the latter part of this year with the aim of building market demand for our product on the part of consumers. We want to get a running start on sales of products coming off the fully automated line, capable of producing up to 1.5 million Power Packs a month, which is expected to be in operation in the first quarter of 2007.
"Three recent announcements of products to be offered to consumers underscore for us the sharply growing need for portable power which our Power Packs will address. At the 3GSM World Congress 2006 mobile phone conference in Barcelona, Spain, Nokia announced the introduction of a mass market "dual-mode" cell phone which, in addition to working on GSM networks, is capable of supporting voice-over-internet (VoIP) protocol by routing calls over broadband internet connection through small wireless networks known as WiFi., reducing the costs of the calls. It has been reported that Motorola and other handset manufacturers are working on pocket devices that will support VoIP and WiFi, as well. All of these WiFi uses require even more power than traditional cell phone calls.
"Also at the Conference, Microsoft emphasized its commitment to sharply expand its mobile software like Mobile 5.0, Office and other capabilities. A Microsoft representative spoke of the company's expectation that there would be "hundreds of millions" of mobile devices with its software capability, while at the same time noting the "battery life issues" for such uses, particularly stemming from the consumers' desire to have a clear, back lit screen that consumes lots of power. Microsoft's Windows Mobile operating system already supports VoIP, as does the latest version of software developed by Symbian, a major supplier of operating systems to high end mobile devices.
"Finally, in a separate development, Google and Verizon have announced their plan to offer Google search access on Verizon cell phones or other mobile devices. This is but one more move in the direction of mobilization of services and content that we have noted before, again requiring the consumer to have access to power in order to take advantage of the service and in order for the advertisers to convey their messages to the consumer.
"I plan to address some of these topics in more detail in my address at the World Summit on Innovation and Entrepreneurship: A Better Generation in the Making, to be held in Muscat, Oman on April 1st, at which more than 800 of the world's leaders in business, education, policy and research sectors are to converge. U.S. sponsors include Cisco, Pepsico, Mircrosoft, Computer Associates and Hewlett Packard. My talk will focus on 'Disruptive Mobile Technologies and Emerging Nations - A New Opportunity.' I also plan to demonstrate our fuel cell capabilities there."
Medis Technologies' primary focus is on direct liquid fuel cell technology. Its business strategy is to sell its products to end users through retail outlets and service providers. Medis has also developed the CellScan with many potential applications relating to disease diagnostics and chemo sensitivity. Additionally, Medis' product pipeline includes other technologies, in varying stages of development.
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.
Source: Business Wire
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