Dow Invests $1.3 Million in Fuel-Cell Development Partner Millennium Cell

0
2684
Spread the love

mcel_logo.gifMillennium Cell Inc (MCEL) said that Dow Chemical Co. bought $1.3 million of its convertible preferred stock, the latest step in their joint development agreement. The two companies are working to develop portable fuel cell systems for use in consumer electronics and military applications. Under their three-year joint program, which began in 2005, Millennium Cell will grant stock to Dow as it achieves certain milestones, as well as give Dow the opportunity to buy more stock. [ more ]

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.