| NEW YORK--Medis
Technologies Ltd. (NASDAQ: MDTL) ("Medis") announced today that it has
received a $500,000 order from General Dynamics C4 Systems to develop a
20 Watt fuel cell power pack in support of the US Department of Defense
(DoD) Wearable Power Competition. The goal of the DoD competition is to
"provide superior technical solutions for the individual energy needs of
Soldiers, Marines, Airmen and Sailors in the field. The DoD seek(s) a wearable
power system that lasts four days and reduces the weight of the battery
load typically carried by those in the field."
The top three competitors that demonstrate
a wearable system that produces 20 watts average power for 96 hours at
a weight of no more than 4 kilograms will win one of three 3 prizes of
$1 million, $500,000 and $250,000, respectively.
General Dynamics C4 Systems (Scottsdale,
Ariz.) will support Medis throughout this competition with its expertise
in providing the DoD with lightweight mobile computing devices.
"This competition provides an opportunity
to showcase the development of advanced technological solutions for powering
mobile devices. Equipment being used by today's warfighter has enhanced
capabilities that consume more power than ever before," said Mike DiBiase,
vice president of the Computing Technologies Division at General Dynamics
C4 Systems. "Developing a power system that meets the requirements of this
competition could help dismounted warfighters to accomplish critical missions.
We look forward to working with Medis and bringing a successful power system
to the competition."
General Dynamics C4 Systems will
be the exclusive supplier of Medis Technologies' 20 Watt fuel cell power
packs and fuel cartridges sold to the U.S. military and homeland security
markets.
"We, at Medis, are excited to team
with C4 Systems on this DoD Competition. A lightweight 20 Watt Fuel Cell
System for military applications can address many mission opportunities,
both in the military and commercial arenas," said Robert K. Lifton, Chairman
and CEO of Medis Technologies. "The military market for our fuel cell technology
represents a highly important business program for Medis. Many of the products
being developed for military use, like this lightweight wearable fuel cell
power source, lend themselves to the commercial markets, as well. This
opportunity is another step in the development of a significant military
presence for our technology. Successful conclusion of this development
will expand our fuel cell power capabilities from the present level of
cell phones, smart phones, Mp3 players, and PDAs, to encompass the power
needs of various platforms, including tablet and laptop computers and products
falling into similar categories of power requirements. In these and other
new products under development, we plan to take advantage of important
advances in our technology including significant advances in our proprietary
fuel reflected in new patents applications we have recently filed."
Medis Technologies' primary focus
is on direct fuel cell technology. Its business strategy is to sell its
products to end users through retail outlets, service providers and to
the military and other markets. Medis' product pipeline includes other
technologies, in varying stages of development.
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