Ballard Acquires Fuel Cell Patent

May 12, 2003 [] Manhattan Scientifics, Inc. has issued a non-exclusive, patent license of its NovArs mid-range fuel cell technology to Ballard Power Systems (BLDP). Manhattan Scientifics received an initial payment of US$300,000 concurrent with the execution of the license agreement, which provides unlimited use rights to Ballard for the proprietary technology and systems developed by Manhattan Scientifics. The company is scheduled to receive an additional payment of US$200,000 upon commercial launch by Ballard of a product using the technology. The technology was developed over the past three years by Dr. Arthur Koschany of NovArs GmbH, the German-based development partner of Manhattan Scientifics. The NovArs fuel cell has attracted worldwide interest from manufacturers and from the U.S. military because of its light weight, small size, and high efficiency characteristics, according to the company. It has been demonstrated in a variety of applications requiring power outputs ranging from 2 watts to 3,000 watts. The fuel cell is a hydrogen/air PEM system using advanced materials and unique technologies to minimize size and weight.