The deal grants Jadoo the rights to make and market products using Millennium’s Hydrogen on Demand technology.Millennium Cell (Nasdaq: MCEL), which develops hydrogen battery technology, has entered into a strategic agreement with Jadoo Power Systems of Folsom, Calif. The agreement grants Jadoo the rights to design, make and market products using Eatontown-based Millennium Cell’s Hydrogen on Demand technology. The pact allows Jadoo to offer a cost-effective high energy-density fuel cartridge through its product line.
Meanwhile, Adam Briggs, Millennium CellÂs president, said the agreement broadens his companyÂs access to military and commercial portable power markets. Jadoo was the first to develop products and market channels for portable fuel cells. The company recently moved to expand its focus to first responders and portable office users.
Shares of Millennium Cell were up $0.04 to $1.52 this afternoon.