EXCELLLENT NEW FROM THE FUEL CELL FRONT!
Manhattan Scientifics Licenses Mid-Range Fuel Cell Technology
February 03, 2004 09:33:55 (ET)
NEW YORK, Feb 03, 2004 /PRNewswire via COMTEX/ -- Manhattan Scientifics, Inc. (MHTX) announced today that it has licensed its mid-range (NovArs) fuel cell technology to a Singapore company with manufacturing in China. The contract gives the licensee non-exclusive rights to produce and sell fuel cell engines based on the NovArs technology owned by Manhattan Scientifics. The agreement involves an upfront payment, royalty and other forms of consideration.
Manhattan Scientifics' COO Jack Harrod said, "This is a positive step in our efforts to provide low-cost fuel cells systems to Chinese, Asian and other worldwide markets. We believe this relationship provides a basis for building future shareholder value." The technology was licensed last May to Ballard Power Systems of Canada on a non-exclusive basis.
About Manhattan Scientifics
Manhattan Scientifics, Inc. (www.mhtx.com) is a technology development company working in the fields of alternative energy and computer touch haptics technology. The company's facilities are located in Los Alamos and Albuquerque, New Mexico and New York City. Copies of Manhattan Scientifics' press releases, current quotes, stock charts and other information for investors may be found on the websites www.hawkassociates.com and www.hawkmicrcocaps.com.
The foregoing press release contains forward-looking statements (including expectation of future events), which are subject to risks, and uncertainty, which may be beyond the company's control. Actual results could differ materially for many reasons including but not limited to completion of R&D and successful commercialization of products/services, patent completion, prosecution and defense against well-capitalized competitors. These are serious risks and there is no assurance that our forward-looking statements will occur or prove to be accurate.
Marvin Maslow, CEO, Manhattan Scientifics (917) 923-3300.
Investor Relations Contact:
Frank Hawkins, (Hawk Associates) (305) 852-2383
SOURCE Manhattan Scientifics
Marvin Maslow, CEO, Manhattan Scientifics, +1-917-923-3300, or
firstname.lastname@example.org; or Investor Relations, Frank Hawkins, Hawk Associates,
+1-305-852-2383, or email, Info@hawkassociates.com, for Manhattan Scientifics