Medis Technologies Signs Cooperation Agreement

June 06, 2005 by Jeff Shepard

Medis Technologies Ltd. (New York) announced that it has entered into a cooperation agreement with a large US mobile operator to test and introduce Medis’ fuel cell Power Packs as a secondary power source for portable electronic devices offered by the mobile operator. The unnamed mobile operator has a customer base of over 50 million subscribers.

The agreement notes that the mobile operator is interested in introducing a new portable energy source to its markets to maximize the use and availability of its services to its customers. Starting at the end of July 2005, Medis will deliver to the operator 15 Power Packs for the operator to demonstrate internally and among its customers, which will be much smaller than earlier units - almost the size and weight of the final units. The operator agrees to provide Medis with the names of those customers, sales and marketing analysis and feedback, and indications of orders.

In November-December of 2005, Medis will make available to the operator the final Power Pack units for technical testing in the operator’s laboratories. The agreement describes the program for the operator to deliver its orders for Power Packs from Medis’ semi-automated lines for market seeding, and allocations of units from the initial large-scale production line.