| NEW YORK--Medis
Technologies Ltd. (NASDAQ:MDTL) announced today that it has been advised
by the Underwriters’ Laboratories (UL) that it has successfully completed
the initial production inspection of its fully automated production line
located in Galway, Ireland and is authorized to apply the UL mark to the
Power Pack products produced on that line.
“Successfully completing the UL initial
production inspection of our automated line and the right to attach the
UL mark to Power Packs produced on that line is a major step in our production
and sales program.” said Robert K. Lifton, Chairman & CEO of Medis
Technologies. “Our production line is established and ready for commercial
production. Now we are in position to ramp up production and start delivery
of our Power Packs to our distributors and other customers. We offer our
congratulations and appreciation to all who are associated with us in creating
and operating this automated line. Particular thanks go to our contract
manufacturer, Celestica, which played such an important role in helping
us develop and operate the line, and Komax (formerly Ismeca) which constructed
the line, as well as to our vendors. I personally congratulate the personnel
of our subsidiary More Energy, which under the leadership of our CTO Gennadi
Finkelshtain brought about this success.
On November 21st, Celestica and Medis
plans to inaugurate the line with a celebration to which it has invited
a number of leading Irish political figures. Our program calls for production
to start to build for shipment to our distributors and other customers
who want to receive shipments starting in the first quarter of 2008.”
Medis Technologies’ primary focus
is on its fuel cell technology. Its business strategy is to sell its products
to end users through branded OEM partnerships, retail outlets, service
providers and to the military and other markets. Medis’ wholly-owned subsidiary,
Cell Kinetics Ltd., is engaged in the development and commercialization
of the CKChip, a unique cell carrier platform intended for simultaneous
fluoroscopic monitoring and analysis of thousands of individual living
cells over time. |