The company Wednesday took the wraps off the futuristic fuel cells that use methanol and announced it will commercialize the product by late this year.

``This is a kind of miniature electric generator aimed at providing electricity for those who frequently use notebook PCs or power-hungry info-tech devices on the move,’’ LG Chem spokesman Kim Dong-joo said.

A fuel cell is a mechanism for transforming chemical energy such as hydrogen and methanol into electricity. Unlike batteries that require recharging, a fuel cell can produce electricity as long as it has fuel.

A cartridge containing methanol provides fuel, which combines with oxygen to generate electricity. The cartridge can be replaced after the methanol runs out.

Kim added the newfangled fuel cell boasts a durability of over 4,000 hours, about eight times longer than the norm, and each cartridge would run a notebook PC for up to 10 hours.

``People will also be able to recharge their handset batteries with fuel cells as they now do at home or in the office with power plugs. One cartridge would allow them to recharge a cell phone hundreds of times,’’ Kim said.

At a size of 17.2 centimeters by 10.6 centimeters, the fuel cell is 5.4 centimeters thick and weighs 1.5 kilometers, a little too big to carry.

``We will halve the size and weight of the product before its commercial launch late this year while doubling the amount of electricity it can generate. A fuel cell will retail at about 500,000 won and a cartridge would sell for thousands of won,’’ Lee said.

LG Chem’s chief technology officer Yeo Jong-kee expects the market for fuel cells will open up soon, thus enhancing the company’s footing.

``Our fuel cell, which has durability and reliability, provides us a great opportunity to outpace competitors and to gain a strong presence in the global market,’’ Lee said.

``Once the global codes and standards for portable fuel cells are prepared this year, we will start commercialization by meeting growing demands in such areas as laptops, mobile handsets and portable electronic devices for the military.’’

Lee expects the global demand for portable fuel cells will expand 28.3 percent each year for the next five years from $600 million next year to $1.9 billion in 2010.