Millennium Cell Inc. recently announced that a non-binding letter of intent has been signed with U.S. Borax, Inc. Millennium Cell and Borax are discussing the possibility of entering into a joint research agreement aimed at developing the process for converting sodium borates to sodium borohydride. "Borax is the world's leading authority on borate chemistry and its experts have considerable technical knowledge on borates, boron hydrides and inorganic chemistry," said Curt Cornell, Millennium Cell vice-president, Business Development/Supply Chain. "Their knowledge and experience complements the work we're doing at Millennium Cell to commercialize our hydrogen generation technology. We are eager to define ways for us to work together to create a new process for the supply of sodium borohydride." "Millennium Cell has come up with a very exciting endeavor that could help conserve the world's natural resources and provide an environmentally friendly alternative to fossil fuels," said Dr. Paul J. Zerella, U.S. Borax chief technology officer. "We look forward to working with them to determine a chemical pathway for the manufacture of sodium borohydride for use in fuel cells."

For additional information, call (732) 542-4000, or visit http://www.milleniumcell.com or http://www.borax.com.