Millennium Cell has created a patented process to safely store, generate and deliver pure hydrogen. Icelandic New Energy will evaluate the potential to use sodium borohydride to export energy from Iceland.Eatontown, New Jersey – August 4, 2003 [SolarAccess.com] Sodium borohydride is an integral part of Millennium Cell’s Hydrogen on Demand technology. Funding for this project will come from the Icelandic Research Council. “Iceland has vast resources of natural geothermal and hydro power to produce hydrogen, which is widely recognized as the future’s most promising energy carrier. Our technology, which safely stores, transport and delivers hydrogen, is well-suited for Iceland’s vision to export renewable energy,” Dr. Stephen S. Tang, Millennium Cell President and CEO said. “The purpose of this project is to characterize the feasibility and economics of that vision.” “The mission of Icelandic New Energy is to investigate the potential for eventually replacing the use of fossil fuels in Iceland with hydrogen and create the world’s first hydrogen economy,” said Jon Bjorn Skulason, General Manager, Icelandic New Energy. The Millennium Cell Hydrogen on Demand system generates high-purity hydrogen from environmentally friendly raw materials. The produced hydrogen can be used to power a fuel cell or a hydrogen-burning engine. The “hydrogen” is stored at ambient conditions in a non-flammable liquid “fuel” solution of sodium borohydride. The process supplies pure hydrogen for energy applications without the need (and associated energy penalties) for compression or liquefaction. Hydrogen produced by this system can be used for numerous applications, addressing a wide range of power requirements from mobile phones to transportation.