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Dow enters fuel-cell pact Dow Chemical and Millennium Cell are collaborating on the commercialization of Millennium's Hydrogen-on-Demand sodium borohydride-based hydrogen storage system for use in fuel cells for consumer electronic and military applications. The three-year program will target milestones such as securing funding from the military and a leading consumer electronics maker. Dow is taking a 3% stake in Millennium Cell. As the milestones are reached, Dow will take additional equity, up to $5 million. Millennium will ask shareholders to approve a potential issuance of 19.9% of its stock to Dow. Millennium also has collaborated with Rohm and Haas, U.S. Borax, and Avantium Technologies. |
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