Adam Briggs Promoted to CEO of Millennium Cell H David Ramm to

Adam Briggs Promoted to CEO of Millennium Cell H. David Ramm to Become Chairman of the Board Forbes.com Home Business Tech Markets Entrepreneurs Leadership Personal Finance ForbesLife Lists Opinions Video Blogs E mail Newsletters People Tracker Portfolio Tracker Special Reports Commerce Energy Health Care Logistics Manufacturing Media Services Technology Wall Street Washington CIO Network Enterprise Tech Infoimaging Digital Infrastructure Internet Personal Tech Sciences Security Wireless Bonds Commodities Currencies Economy Emerging Markets Equities Options Finance Human Resources Law E mail Request Reprints E Mail Newsletters My Yahoo RSS Business Wire Press Release Adam Briggs Promoted to CEO of Millennium Cell H. David Ramm to Become Chairman of the Board . . PM ET Millennium Cell Inc. NASDAQ MCEL a leading developer of hydrogen battery technology today announced that Adam P. Briggs the Company s President has been promoted to the position of Chief Executive Officer effec! tive at the time of the Company s Annual Meeting in April . Mr. Briggs will also be nominated by the Board of Directors to be on the slate of directors scheduled to be voted upon at the Company s Annual Meeting. H. David Ramm the Company s current CEO and a Board Member will serve as Chairman of Millennium Cell s Board of Directors after his resignation as CEO becomes effective. G. Chris Andersen Millennium Cell Chairman stated Adam is a proven and talented leader with extensive experience and background in the battery and power source industry. We look forward to his leadership as CEO and his contributions to the Board as MCEL delivers on its hydrogen battery product development. Mr. Andersen continued I also want to thank David Ramm for his strong contributions over the past several years as both a Board Member and as CEO. We are pleased that he has decided to take on the very important role of Chairman of the Board of Directors. While I will step down as Chairman I plan ! to remain an active member of the Board of Directors and look forward to a promising future for the Company as our products near readiness for market later this year. I want to wish Adam and David well in their new roles. No solicitation of a proxy for the election of any members of the Board of Directors of the Company to be held at the Company s Annual Meeting in April is being made hereby. Such a solicitation will only be made pursuant to definitive proxy materials made available to Company stockholders as required by the proxy rules. Stockholders are urged to read the definitive proxy materials once they become available. About Millennium Cell Millennium Cell is a leader in the development of hydrogen battery technology used to power portable applications. Through its proprietary Hydrogen on Demand R fuel cartridges and PowerSkin TM fuel cell modules the Company provides increased energy density resulting in longer runtime and lighter weight in a compact space. The Company is working with market partners to meet the demand for a better bat! tery in the military medical industrial and consumer electronics markets. For more information visit www.millenniumcell.com. Cautionary Note Regarding Forward looking Statements This press release may include statements that are not historical facts and are considered forward looking within the meaning of the Private Securities Litigation Reform Act of . These forward looking statements reflect Millennium Cell s current views about future events and financial performance and are subject to risks. Forward looking statements are identified by their use of terms and phrases such as believe expect plan anticipate on target and similar expressions identifying forward looking statements. Investors should not rely on forward looking statements because they are subject to a variety of risks uncertainties and other factors many of which are outside of our control that could cause actual results to differ materially from Millennium Cell s expectations and Millennium Cell expressly do! es not undertake any duty to update forward looking statements. These factors include but are not limited to the following i the cost and timing of development and market acceptance of Millennium Cell s hydrogen fuel storage and delivery system ii the cost and commercial availability of the quantities of raw materials required by the hydrogen fuel storage and delivery systems iii competition from current improving and alternative power technologies iv Millennium Cell s ability to raise capital at the times in the amounts and at the costs and terms that are acceptable to fund the development and commercialization of its hydrogen fuel storage and delivery system and its business plan v Millennium Cell s ability to protect its intellectual property vi Millennium Cell s ability to achieve budgeted revenue and expense amounts vii Millennium Cell s ability to generate revenues from the sale or license of or provision of services related to its technology viii Millennium Cell s ability to form strategic alliances or partnerships to help promote our t! echnology and achieve market acceptance ix Millennium Cell s ability to generate design engineering or management services revenue opportunities in the hydrogen generation or fuel cell markets x Millennium Cell s ability to secure government funding of its research and development and technology demonstration projects and xi other factors discussed under the caption Risk Factors in Millennium Cell s Annual Report on Form K for the year ended December . of Article Controls E mail Request Reprints E Mail Newsletters My Yahoo RSS Related Sections Home News Analysis News Headlines More From Forbes.com Special Reports Subscriptions Subscribe To Newsletters Subscriber Customer Service Trading Center Brought to you by the sponsors below Small Business more The Entrepreneur Library Ten books that no entrepreneur should be without. 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Source: http://www.forbes.com/businesswire/feeds/businesswire/2008/03/04/businesswire20080304006365r1.html


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